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Current program rates as low as 3.5 percent for Homeownership, and
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Programs Director Tara Pavlik on receiving the 2013 Affordable Housing Leadership Award from the Illinois Mortgage Bankers Association. Great job, Tara!
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 IHDA's Homeownership Department would like to recognize Margie Catton, assistant vice president, mortgage loan originator at Busey Bank, as its "Loan Officer of the Month." Margie says connecting working families with IHDA's mortgage products and seeing the smiles on their faces when they are able to purchase their first home makes her job worthwhile.
Thanks, Margie!
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Illinois Governor's Conference on Affordable Housing
April 23-24
UIC Forum
725 W. Roosevelt Road
Chicago
Register at
Federal Home Loan Bank of Chicago's Affordable Housing Program Application Training
May 1
Register at
Illinois Foreclosure Prevention Network Workshop
9 a.m.-2 p.m.
May 18
Peoria Civic Center
201 SW Jefferson Ave.
Peoria
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Credit Advantage and Affordable Advantage are available now. Please see the
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For more immediate updates, please join us on IHDA's Facebook page: |
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Illinois Governor's Conference on Affordable Housing
Register today for the Illinois Governor's Conference on Affordable Housing to be held April 23-24 at the UIC Forum, 725 W. Roosevelt Road, Chicago. Session details are now available.
Join us on Tuesday, April 23 in honoring Ed Hinsberger, retiring Director of Multifamily Housing at the U.S. Department of Housing and Urban Development (HUD) Chicago office, for his longstanding commitment to affordable housing.
On Wednesday, April 24, Former Senate Majority Leader and Bi-Partisan Policy Council (BPC) Co-Chair George Mitchell, BPC Commissioners Robert M. Rozen and Ed Brady will lead a keynote presentation on the BPC Housing Commission's Report.
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Building Blocks Expansion
Governor Pat Quinn has expanded the Illinois Building Blocks program, supporting his proclamation of 2013 as the "Year of Homeownership." This innovative program creates affordable homeownership opportunities for buyers of vacant homes and helps revitalize communities.
Homebuyers in 10 additional municipalities can qualify for $10,000 in down payment and closing cost assistance as part of the Illinois Building Blocks program. The program is now available in 15 Illinois communities.
Belleville, Blue Island, Champaign, Cicero, Crest Hill, Joliet, Lockport, Lynwood, Melrose Park and Peoria now join the existing Illinois Building Blocks communities of Berwyn, Chicago Heights, Maywood, Park Forest and South Holland.
Administered by IHDA, the program uses a comprehensive strategy to continue addressing the foreclosure crisis in communities in need. The program encourages the reuse of vacant single-family properties and enables more working families to access currently low housing prices by making homeownership safe and affordable.
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Illinois Foreclosure Prevention Network
On Saturday, May 18, the next Illinois Foreclosure Prevention Network (IFPN) workshop for homeowners will be held from 9 a.m.-2 p.m. at the Peoria Civic Center, 201 SW Jefferson Ave., Peoria. Homeowners will have access to FREE face-to-face assistance from a trusted source.
If you would like event flyers, please email Marketing Coordinator Maxwell Mueller or call (312) 836-7425.
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Illinois Hardest Hit Increase
Households can now qualify for $35,000 in mortgage assistance through the Illinois Hardest Hit program, the flagship program under Governor Quinn's Illinois Foreclosure Prevention Network (IFPN). This marks a $10,000 increase in assistance to help struggling homeowners maintain their mortgage payments.
With the increase, an additional 500 working families will be immediately assisted, and IHDA expects an additional 100 families per month to be eligible for mortgage payment support.
Governor Quinn also announced that Illinois Hardest Hit reached a milestone, helping its 7,000th homeowner keep their home.
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Hundreds of potential buyers flocked to the State of Illinois Homebuyer Expo on March 23 to meet with lenders and access IHDA's affordable mortgage products featuring up to $10,000 in down payment assistance.
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Approximately 130 families who attended the first-ever State of Illinois Homebuyer Expo on March 23 are now on the path to homeownership. The event was hosted March 23 by IHDA at the Illinois Institute of Technology in Chicago.
After pre-qualifying for safe and affordable mortgage products featuring thousands of dollars in down payment and closing cost assistance, the next step for these families is to find their dream home.
Sponsored as part of Governor Pat Quinn's proclamation of the "Year of Homeownership," the Expo connected these hard working families to lenders who pre-qualified them for a fixed-rate 30-year mortgage and up to $10,000 in financial assistance available through the Illinois Housing Development Authority (IHDA). An additional 130 families were connected to counseling to prepare for homeownership.
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Weinberg Foundation Grant
Thanks to a new $1 million grant from a Maryland foundation, the State of Illinois can ensure more extremely low-income people with disabilities can live independently in community-based rental housing.
The Harry and Jeanette Weinberg Foundation, based in Owings Mills, Md., awarded the grant to IHDA to create more permanent supportive housing opportunities for people with disabilities. Rents for up to 10 targeted units will be written down from 60 percent of the area median income to 20 percent, or $10,320 for a one-person household in the Chicago area.
IHDA is reviewing its portfolio of rental properties to determine where this generous Weinberg Foundation grant will have the most immediate impact. Tenants will be chosen through the State Referral Network.
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Governor Pat Quinn has appointed Harlan Karp as the newest member of the Board of Directors. IHDA is pleased to welcome such a distinguished member whose vast financial and real estate experience will be an asset.
Mr. Karp is the president and managing director of the SouthBlock Group, a commercial and residential real estate development and asset management company. Mr. Karp formerly served as a lead advisor for Mergers and Acquisitions for KPMG and PricewaterhouseCoopers and spent a decade consulting companies around the world such as UPS, Deutsche Bank, Credit Suisse, Aflac and GE Power Systems. A graduate of the University of Wisconsin-Madison, he is a Certified Public Accountant.
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 Congratulations to our public-private partners on the following ribbon cutting:
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