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Current program rates as low as 3.25 percent for Homeownership and
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Congratulations to Ed Hinsberger
on receiving the 2013 Illinois Champion of Affordable Housing Award for his energy, creativity and dedication to the development of affordable housing. His career at the U.S. Department of Housing and Urban Development (HUD) spanned 25 years and covered all areas of affordable housing. Known among developers, owners and neighborhood groups as an expert in the development process, there was no one more deserving of this recognition.
Congratulations, Ed!
Please see the news release for a complete list of the State's 2013 Affordable Housing Champion Awards.
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IHDA's Homeownership Department would like to recognize John Meile, Vice President and Sales Manager at First Integrity Mortgage Services as its "Loan Officer of the Month." John is always accessible to his customers, works with them closely through the entire loan process and was named the #1 Lender in the State in 2011 for his commitment to connect buyers with IHDA's loan programs.
Thanks, John!
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Federal Home Loan Bank of Chicago's Affordable Housing Program Application Training
Comprehensive Housing Event for Homebuyers and Homeowners
May 18, 9 a.m. - 2 p.m.
Peoria Civic Center
201 SW Jefferson Ave.
Peoria
Comprehensive Housing Event for Homebuyers and Homeowners
July 13, 9 a.m. - 2 p.m.
Giovanni's Restaurant & Convention Center
610 N. Bell Rd.
Rockford
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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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Event for Homebuyers and Homeowners on May 18 in Peoria
Governor Pat Quinn will be hosting a comprehensive housing event at the Peoria Civic Center, 201 SW Jefferson Avenue, Peoria, IL 61602. Held from 9 a.m. to 2 p.m., homebuyers and homeowners can connect with lenders, housing counselors and financial assistance.
For Homebuyers:
At the second state-sponsored Homebuyer Expo on May 18 in Peoria, buyers can be pre-approved for any of IHDA's loan programs that combine affordable mortgages with up to $10,000 cash for down payment and closing costs.
For Homeowners:
On May 18 in Peoria, the Illinois Foreclosure Prevention Network will connect homeowners struggling to pay their mortgage with one-on-one counseling, legal advice, and financial assistance to save their homes.
Registration is not required.
The next housing event will be held July 13 at Giovanni's Restaurant & Convention Center, 610 N. Bell Road in Rockford. Look for more details in next month's newsletter.
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2013 Illinois Governor's Conference on Affordable Housing
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Courtesy of the State of Illinois
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More than 600 housing developers, legislators, bankers, service providers and not-for-profit organizations dedicated to the success of affordable housing in Illinois were present at this year's two-day conference at the UIC Forum in Chicago.
Co-sponsored by the Illinois Housing Development Authority and the Illinois Housing Council, the conference featured panel discussions, keynote addresses and awards to honor the efforts of IHDA's partners to create and sustain affordable housing for families, Veterans, seniors and people with disabilities.
The conference was highlighted by keynotes from Governor Quinn and Counselor to the Secretary of the Treasury for Housing Finance Policy Michael Stegman, as well as an unprecedented discussion led by former Senate Majority Leader George J. Mitchell on the Bipartisan Policy Commission's landmark report on our nation's urgent housing issues.
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New Financing Available to Create Supportive Housing
IHDA is now accepting applications from property owners for a portion of up to $10 million in Long Term Operating Support (LTOS) Special Demonstration Program grant funding.
Up to $10 million will be made available over 15 years to eligible landlords to help subsidize rents for up to 150 households headed by a person with a disability.
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New Funding for Housing Counseling
Studies by Neighborworks America show homeowners who undergo foreclosure prevention counseling are twice as likely to obtain a mortgage modification and at least 67 percent more likely to remain current on their mortgage.
IHDA recently announced $3.4 million in new funding for community-based organizations to provide guidance on buying a home, foreclosure prevention and credit issues. This new round of funding will ensure homeowners and homebuyers in Illinois can access free counseling through the state's network of 80 trusted counseling agencies in every county of the state.
IHDA also received two new grants totaling $3 million from the National Foreclosure Mitigation Counseling Program and the U.S. Department of the Treasury. These grants will allow 10,000 additional families to access free foreclosure prevention counseling under the Illinois Foreclosure Prevention Network. No Illinois homeowner should ever pay for housing counseling.
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New Supportive Housing for Veterans with Families
Governor Quinn was joined by the Volunteers of America of Illinois and the Chicago Housing Authority to break ground on Hope Manor II Apartments - one of the first large-scale housing developments in the nation designed to address the needs of Veterans with families at risk of homelessness.
The new community will provide 73 units of permanent supportive housing in a campus style community in Chicago's Englewood neighborhood. Residents will have access to the support they need to reintegrate into civilian life, including access to the True North Project which aids Veterans struggling with serious instability in their lives
The development is the second phase of the Volunteers of America's Hope Manor Project. After the opening of Hope Manor Apartments in 2012, a development that serves single Veterans, a community to serve families was a necessary next step.
Construction is expected to be complete by June 2014. Please see the news release for more details.
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Congratulations to our public-private partners on the following home rehabilitations:
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