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Home Buying Programs

Buying a home can be an exciting and intimidating process. With IHDA MORTGAGE we strive to make the process as streamlined as possible so you can achieve your goal of homeownership! Through our network of trusted partners, you will have someone with you every step of the way to help you purchase your home. And by using an IHDA MORTGAGE product, we will ensure that you can afford the home you buy. Our programs offer safe, fixed interest loans at affordable rates. Qualified homebuyers can receive down payment and closing cost assistance.
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IHDA Mortgage Opening Doors, or Abriendo Puertas, is designed to provide a safe and affordable lending program that allows families across Illinois the opportunity to break the cycle of renting and achieve a path to homeownership. Opening Doors will provide:

  • a safe, affordable 30-year 1st mortgage with a fixed interest rate and

  • a 0% interest 2nd mortgage for $6,000 in down payment and/or closing cost assistance.

  • This 2nd loan is forgiven after five years.

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Borrowers may be first-time or non first-time homebuyers, live in any county statewide and DACA Recipients (Dreamers) are eligible!

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      • 4% of the purchase price up to $6,000 in assistance for down payment & closing costs, forgiven monthly over 10 years – it’s a loan that does not have to be repaid.

      • 30-year, fixed rate mortgage with an affordable interest rate

      • Available for all mortgage types, including FHA, VA, USDA, FNMA HFA Preferred and FHLMC HFA Advantage

      • Available to first-time and repeat homebuyer's statewide

 

Eligibility:

      • Household income and purchase price limits apply

      • Minimum credit score of 640 is required

      • Both new construction and existing homes are eligible

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      • 5% of the purchase price up to $7,500 in assistance for down payment & closing costs offered as an interest-free loan, deferred for the life of your mortgage – you don’t need to repay until you sell your house, refinance, or pay off your mortgage

      • 30-year, fixed rate mortgage with an affordable interest rate

      • Available for all mortgage types, including FHA, VA, USDA, FNMA HFA Preferred and FHLMC HFA Advantage

      • Available to first-time and repeat homebuyers statewide

 

Eligibility:

      • Household income and purchase price limits apply

      • Minimum credit score of 640 is required

      • Both new construction and existing homes are eligible

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      • 10% of the purchase price up to $10,000 in assistance for down payment & closing costs offered as an interest-free loan – repaid monthly over a 10 year period

      • 30-year, fixed rate mortgage with an affordable interest rate

      • Available for all mortgage types, including FHA, VA, USDA, FNMA HFA Preferred and FHLMC HFA Advantage

      • Available to first-time and repeat homebuyers statewide

 

Eligibility:

      • Household income and purchase price limits apply

      • Minimum credit score of 640 is required

      • Both new construction and existing homes are eligible

Finding A Lender

Now that you are familiar with IHDA’s programs, reach out to an IHDA-approved lender to discuss your unique circumstances, walk you through the process and help you apply.

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Contact Cucci Realty today by using the form below or calling 708-505-7088

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