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IHDA-Illinois Housing
Development Authority First Time Home Buyer Program
Highlights-IHDA-Illinois Housing Development Authority I-Loan Mortgage
Program
- Program offers 30 year fixed mortgage at rate approximately 1/2% below
market
- Available to all counties
- Fixed rates and buydowns available
- Loans are reserved and and an interest rate is locked at time of
reservation. The lock is good for up to 6 months on existing properties and
up to 9 months for new construction
- No recapture tax or repayment
Current rates
| Rate |
Points |
APR |
| 6.10% |
0 |
6.13% |
| 5.95% |
1.00 |
6.07% |
Targeted Areas Income Limits
|
County |
Household of 1 or 2 |
Household of 3 or more |
|
McLean |
$88,200 |
$102,900 |
|
Cook, Kane, Lake, Will |
$86,880 |
$101,360 |
|
Dekalb |
$83,280 |
$97,160 |
|
St. Clair, Madison |
$79,920 |
$93,240 |
|
All other counties with Targeted areas* |
$79,920 |
$93,240 |
Targeted Areas Purchase Price Limits
|
County |
New
Construction 1 unit |
New
Construction 2 unit |
1 unit
|
2 units |
3 units |
4 units |
|
McLean |
$289,700 |
$370,880 |
$289,700 |
$370,880 |
$448,310 |
$557,140 |
|
Cook, Kane, Lake, Will |
$398,310 |
$448,620 |
$398,310 |
$448,620 |
$545,060 |
$628,910 |
|
Dekalb |
$398,310 |
$448,620 |
$398,310 |
$448,620 |
$545,060 |
$628,910 |
|
St. Clair, Madison |
$309,370 |
$370,880 |
$309,370 |
$370,880 |
$448,310 |
$557,140 |
|
All other counties with Targeted areas* |
$289,700 |
$370,880 |
$289,700 |
$370,880 |
$448,310 |
$557,140 |
*ALL OTHER COUNTIES WITH TARGETED
AREAS: Adams, Alexander, Champaign, Crawford, Franklin, Greene, Jackson,
Jefferson, Kankakee, La Salle, McDonough, Macon, Marion, Mercer, Morgan,
Peoria, Pulaski, Rock Island, Saline, Sangamon, Stephenson, Tazewell, Vermilion,
White, Winnebago.
Non-Targeted Areas Income Limits
| County |
Household of 1 or 2 |
Household of 3 or more |
| Cook,
DuPage, Kane, Kendall, Lake, McHenry, Will |
$72,400 |
$83,260 |
| Dekalb |
$69,400 |
$79,810 |
| Grundy |
$72,800 |
$83,720 |
| McLean |
$73,500 |
$84,525 |
| St. Clair, Clinton, Jersey,
Madison, Monroe, Bond, Calhoun, Macoupin |
$66,600 |
$76,590 |
| All Other Counties |
$66,600 |
$76,590 |
Non-Targeted Areas Purchase Price Limits
| County |
New
Construction 1 unit |
1 unit |
2 units |
3 units |
4 units |
| Cook,
DuPage, Kane, Kendall, Lake, McHenry, Will |
$325,890 |
$325,890 |
$367,060 |
$445,960 |
$514,570 |
| Dekalb |
$325,890 |
$325,890 |
$367,060 |
$445,960 |
$514,570 |
| Grundy |
$325,890 |
$325,890 |
$367,060 |
$445,960 |
$514,570 |
| McLean |
$237,030 |
$237,030 |
$303,450 |
$366,800 |
$455,840 |
| St. Clair, Clinton, Jersey,
Madison, Monroe, Bond, Calhoun, Macoupin |
$253,120 |
$253,120 |
$303,450 |
$366,800 |
$455,840 |
| All Other Counties |
$237,030 |
$237,030 |
$303,450 |
$366,800 |
$455,840 |
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