Current single-family program rates as low as 3.75 percent. See
Homeownership for more info.
IHDA Loan Officer of the Month
LoanOfficer
IHDA's Homeownership Department recognizes Ronald Branch, Mortgage Loan Originator at U.S. Bank in Chicago as its "Loan Officer of the Month." When homebuyers ask how much house they can really afford or if there are special mortgage programs available, Ronald draws on his 19 years of experience to help them get the home they want with the right mortgage for their unique situation. Thanks, Ronald!
IHDA Awards & Recognition
Homers
Congratulations to the IHDA Homers on their 8-7 extra-inning victory in the 2014 Chicago Park District Grant Park Softball League season opener on May 6. After bringing home the trophy in the annual IHDA vs. Developers game last year, the team is looking forward to another big year. Remember to support the Homers at their next game on Tuesday, May 20 at 5:30 p.m.
IHDA Upcoming Dates


UpcomingDates
May 12 - 16
The University Conference Center
525 S. State St.
Chicago, IL 60605

 

May 17
9 a.m. - 1 p.m.
Hanover Park
Park District Community Center
1919 Walnut Ave.
Hanover Park, IL 60133
 
June 14
9 a.m. - 1 p.m.
Elgin Community College
1700 Spartan Dr.
Elgin, IL 60123
 
July 12
9 a.m. - 1 p.m.
Prisco Community Center
150 Illinois Ave.
Aurora, IL 60506
 
9% Tax Credit Application Deadline (LIHTC Round II - 2014)
July 21, 3 p.m.
See the Multifamily financing program calendar
For more immediate updates, please join us on IHDA's Facebook page and follow us on Twitter:

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Governor Quinn Urges Homebuyers to Act Now for $7,500 in Down Payment Assistance
 WHITour
IHDA Program News
Two weeks after launching the Welcome Home Illinois program, Governor Pat Quinn traveled to cities across the state to raise awareness of the state's new program for first-time homebuyers.
 
The Governor visited families, Realtors and lenders in Chicago, Rockford, the Quad Cities, Peoria, Marion and Collinsville last month to highlight the impact of first-time homebuyers on the state's economy and remind working families that money is available for those who qualify. Welcome Home Illinois offers $7,500 in down payment assistance and a 30-year fixed-rate mortgage at a below-market interest rate - currently at 3.75 percent - providing the financial boost many young families need to get a home and supporting crucial economic growth throughout the state.
 
The program is an investment in the economic health of Illinois with every home sold generating two jobs and $60,000 in ripple effects. And while the financial benefits are welcomed throughout the state, the true value has been recognized by the 956 homebuyers who have reserved $117 million in financing to make homeownership possible.
 
Please see the news release for more details. 
Welcome Home Illinois Program Fuels a Record Month for IHDA Loan Originations
 RecordMonth
IHDA Program News
After an especially rough winter, there is a pent up demand from aspiring homebuyers across the state.
 
Sixty percent of all homes are bought and sold between May and August, but higher mortgage costs and tougher credit standards have forced many potential buyers to stop looking. There is an opportunity for Realtors to expand the pool of qualified homebuyers by connecting their clients with one of the 140 lenders participating in IHDA's homeownership network.
 
A record 812 buyers reserved $96 million in mortgage financing and down payment assistance through IHDA's homeownership programs in April, driven by the Governor's new Welcome Home Illinois Program. IHDA's down payment assistance and below-market interest rates provide safe and competitive solutions for customers who need an extra boost, and homeowners are quickly recognizing these benefits as the home buying cycle takes off.
 
Visit WelcomeHomeIllinois.gov for more details or call (877) 456-2656 to become an IHDA-approved lender.
New $7.2 Million Investment Helps Local Governments Address Issues Caused by Vacant Homes
APP 
IHDA Program News Governor Quinn announced on May 1 a $7.2 million investment to help local governments across Illinois secure abandoned properties, clear blight and stabilize neighborhoods. 
 
A total of 53 municipalities, counties and land banks have been approved for funding under the first round of IHDA's Abandoned Property Program (APP). Local governments can use the grants of up to $75,000 to maintain weeds and grass, trim trees and bushes, install fencing to protect the public and repair or demolish abandoned homes.
 
Funding for the program comes from Senate Bill 16, a landmark law sponsored by Senators Jacqueline Collins and John Mulroe that requires banks which foreclose on homes to pay a fee of up to $500, depending on the number of foreclosures the institution files.
 
Please see IHDA's APP page for more details.
Governor Quinn's Mortgage Relief Project Helps Illinois Homeowners Stay at Home
MRP
IHDA Program News Working in partnership with state agencies and local officials, the Kane County Foreclosure Task Force will host Mortgage Relief Project events at Elgin Community College on June 14 and Aurora's Prisco Community Center on July 12.
 
The Mortgage Relief Project is an effort under the Illinois Foreclosure Prevention Network, established by Governor Quinn, to connect homeowners with the resources that will help them avoid foreclosure.
 
Homeowners will receive helpful advice about mortgage refinancing, foreclosure prevention, legal rights, credit counseling and avoiding scam artists. Homeowners will also receive private, one-on-one housing counseling with HUD-certified counselors.
 
Visit www.KeepYourHomeIllinois.org or call (800) 532-8785 for more information.
Funding Available: The 2014 Competitive Affordable Housing Program Round is Now Open
AHP 
The Federal Home Loan Bank of Chicago opened its 2014 competitive Affordable Housing Program (AHP) round on April 21. The Bank will award $21.9 million to members and sponsors in support of homeownership and rental projects. The maximum award per-project is $850,000.
 
Applications must be submitted via AHP Online by 5 p.m. on Friday, June 20. A number of resources are available to help members and sponsors submit the most complete and competitive applications as possible, including an updated Guide for Member Applicants, an updated Guide for Sponsor Applicants and new video tutorials.
 
The Bank expects to make award announcements in early December.
Developers, Remember to Include IHDA When Planning Your Groundbreakings and Grand Openings
Events
Every new development provides a valuable platform to reach out to the communities we serve and showcase the work we do. Not only are these events important milestones, but they help to establish new partnerships that lead to more support for new developments in the future.

Please contact Samantha Slawinski in IHDA's Marketing & Communications Department when you start planning for your next event. She will be able to help identify the best dates, times, speakers and media opportunities that make these events a success. 
 
We look forward to hearing from you!

IHDA New Developments
 
NewDevelopments
Congratulations to our public-private partners on the following grand opening:

(May 1, 2014)
(May 7, 2014) Lake County News-Sun
 
(May 6, 2014) Rockford Register Star
 
(May 5, 2014) Journal Gazette & Times Courier

 

(May 1, 2014) Jacksonville Journal Courier

 

(May 1, 2014) Alton Telegraph
 
(April 28, 2014) Belleville News-Democrat

 

(April 27, 2014) Alton Telegraph

 

(April 26, 2014) The Edwardsville Intelligencer

 

Want to buy a home for the first time?
(April 25, 2014) Lake County News-Sun

 


(April 22, 2014) Medill Reports: Chicago