Current single-family program rates as low as 3.750 percent. See
Homeownership for more info.
IHDA Loan Officer of the Month
LoanOfficer
IHDA's Homeownership Department recognizes Joy Shadden, Mortgage Banker at Command Capital Mortgage Services as its "Loan Officer of the Month." Joy specializes in mortgages for first-time homebuyers and offers expert knowledge on IHDA's current loan programs. She continues to be educated in new and upcoming products and with 11 year in the mortgage industry, Joy can find the best loan program for her clients. Thanks, Joy!
IHDA Upcoming Dates


UpcomingDates
Illinois Association of Realtors Fall Conference & Expo
September 4-6
Hyatt Regency McCormick Place
2233 S. Dr. Martin Luther King Jr Drive
Chicago, IL 60616
September 6
9 a.m. - 1 p.m.
Triton College
2000 5th Ave, Building B
River Grove, IL 60171
For more immediate updates, please join us on IHDA's Facebook page and follow us on Twitter:

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Act Now to Take Advantage of $7,500 in Down Payment Assistance and Record Low Interest Rates
 WHI
IHDA Program News
In just four months since Governor Quinn launched Welcome Home Illinois in April 2014, more than 5,200 first-time home buyers have reserved $667 million in mortgage financing through the program to buy their first home, already surpassing the year-end total for IHDA's entire catalog of homeownership programs in 2013.

Young families and first-time buyers have always been important to the housing market, adding to housing demand and allowing existing homeowners to sell and move up. But compared with a decade ago, today's first-time buyers face a much different set of challenges, including steadily rising interest rates, tight credit, stagnant incomes and student loan debt that continues to deter or delay would-be buyers.

Despite these challenges, people are still interested in owning and continue to see homeownership as a tool to build household wealth. Lenders, Realtors and home buyers should act now, while Welcome Home Illinois is still available, and apply for this mortgage program today. With $7,500 in down-payment assistance, a minimum credit score requirement of 640 and interest rates as low as 3.750 percent for a 30-year fixed-rate mortgage, Welcome Home Illinois can help first-time buyers while ensuring it is a great financial fit as well. 
 
Visit WelcomeHomeIllinois.gov for local IHDA-approved lenders, current interest rates, income limits and information on IHDA's many homeownership programs.
Governor Quinn Celebrates Milestone on Chicago's West Side
 Humboldt
Governor Pat Quinn joined the Children's Place Association, Congressman Danny K. Davis, Senator Patricia Van Pelt and other elected officials from federal, state and city governments on July 25 to celebrate the groundbreaking of West Humboldt Place, a 13-unit rental building that will bring urgently needed housing to Chicago's Humboldt Park neighborhood.

The new three story building will provide housing for families with histories of homelessness in which the head of the household, or other family member, suffers from a disability such as HIV/AIDS or other life changing health condition.

In addition to the 13 apartments on the upper two floors, the ground floor will provide services and amenities for tenants and the larger community. Services will include case management, mental health counseling, job training, financial literacy and educational programs for young children.

Under Governor Quinn's administration, the state has made tremendous progress to provide more housing for persons with disabilities, keeping them out of institutions and creating opportunities that enable them to live independently in the community of their choice. Since 2009, IHDA has financed more than 2,235 units of new permanent supportive housing across the state.

Pictured from left: State Representative Greg Harris (13th District), State Senator Patricia Van Pelt (5th District), Chicago Alderman Walter Burnett (27th Ward), Illinois Governor Pat Quinn, Children's Place Association CEO Cathy Krieger, IHDA Executive Director Mary R. Kenney, U.S. Congressman Danny K. Davis (Illinois 7th District)
Third Round of the Illinois Foreclosure Prevention Program Underway
 IFPN
IHDA Program News
The third round of the Illinois Foreclosure Prevention Program (FPP) kicked off on August 1, funding 49 housing counseling agencies working out of nearly 100 office locations across the state to provide free foreclosure counseling and other help for Illinois homeowners.

The FPP is part of the Illinois Foreclosure Prevention Network (IFPN), a network created by Governor Pat Quinn to bring together services and resources to help guide homeowners through the process that could save their home. Counselors help homeowners weigh their options, communicate with mortgage lenders on their behalf and help them find legal representation if necessary.

Early intervention is important, as borrowers who receive counseling in the early stages of default - or even before - are far more likely to keep their homes than those who wait until they are seriously delinquent. 

If you or someone you know is facing the challenge of mortgage delinquency, don't wait. Visit KeepYourHomeIllinois.org or call 1-855-KEEP-411 (1-855-533-7411) today to find a counselor near you.
IHDA Realtor of the Month - Synthia Noble
Congratulations to Synthia Noble of RE/MAX 2000 for winning IHDA's first-ever Realtor of the Month contest!

Synthia has been a licensed real estate broker and a valued member of RE/MAX 2000 in south suburban Crete, Illinois for almost ten years.

Primarily working with first-time home buyers, she knows that education is the key to help young families find their new home and works with her clients to explore every option that can help them become homeowners with less money out of their own pocket.

Synthia also knows that it is a great time to buy - when it is often cheaper to own a home than to rent - and makes sure her buyers connect with a lender who can help them apply for an IHDA loan.

Visit her website or contact her at synthianoble@gmail.com to find your first home today.
Time is Running Out to Vote for the 2014 AHF Readers' Choice Awards
 AHF
IHDA Awards & RecognitionWith less than one day remaining, time is running out to support IHDA's development partners by selecting four Illinois nominations as the nation's best developments of 2013 and 2014. Subscribers to Affordable Housing Finance are eligible to participate before voting closes on Monday, August 11, 2014. Visit Affordable Housing Finance to vote for your favorite IHDA-financed developments today!

Master Planned/Mixed Use - The Grant at Woodlawn Park
At the invitation of the property's residents, the Preservation of Affordable Housing (POAH) acquired and replaced the distressed and obsolete buildings of the Grove Parc Apartments with a successful mixed-income model.

Preservation - Pullman Wheelworks
Mercy Housing Lakefront and the National Housing Trust/Enterprise Preservation Corp. launched a "rolling rehab" of the historic factory-turned apartment development, preserving the affordability of 210 units while allowing nearly every resident to stay on site during construction.

Located in rural Stephenson County, The Laubacher Co.'s Heritage Woods was designed to provide seniors in the area with an affordable alternative to nursing-home care. Prior to the development, many local seniors did not have access to affordable services and support, either relying on neighbors or traveling to the nearest large city 35 miles away.

Special Needs - Buffett Place
Brinshore Development and Thresholds transformed a troubled SRO hotel into a model supportive housing development for people with disabilities, mental illness or who are at risk for homelessness. In addition to mental health and educational services, the ground floor features a Thresholds-owned flower shop that serves as an on-site training program.
Chicago Neighborhood Development Award Applications Now Being Accepted
 CNDA
IHDA Awards & Recognition Applications for the 21st annual Chicago Neighborhood Development Awards (CNDA) and the Richard H. Driehaus Foundation Award for Architectural Excellence in Community Design are now being accepted.

Established in 1995, the CNDA Awards recognize the essential role that both non-profit and for-profit developers play in building communities in Chicago-area neighborhoods. The Awards recognize outstanding achievement in neighborhood real estate development, community engagement and community building, while the Driehaus Foundation Award recognizes best practices in community design, landscape design and architecture.
 
To apply online or for more details on the awards, click here. Applications are due on September 11, 2014. 
IHDA Executive Director Discusses Foreclosures, Home Sales and the Changing Role of HFAs
 DailyWhale
State Housing Finance Agencies play a pivotal role in affordable housing development. As the housing market continues its rebound, IHDA has emerged as a critical driver of both home sales and the rental market, providing credit and support through even the most difficult market conditions.

IHDA Executive Director Mary R. Kenney joined the Daily Whale on July 21 to talk about IHDA's evolving role in this changing economic landscape, including the state's response to the foreclosure crisis, the lingering effects of the housing-market crash on today's economy and the efforts of Governor Quinn to ease the cost of housing for working families throughout the state.
 
Visit the Daily Whale to read the full interview.
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 In The News