Current single-family program rates as low as 3.750 percent. See
Homeownership for more info.
IHDA Loan Officer of the Month
IHDA's Homeownership Department recognizes Julie Parrilli, Senior Mortgage Loan Originator with Cherry Creek Mortgage in Rochelle as its "Loan Officer of the Month." Julie educates, guides and supports her clients through the mortgage process, teaching them how to use their loan as a financial tool for both short and long term goals. With knowledge, professionalism and the help of IHDA's affordable loan products, her team works hard to give their borrowers the best experience possible. Thanks, Julie!
IHDA Awards & Recognition
Wintrust Mortgage stays in the lead as IHDA's top mortgage originator of 2014 with just one month to go.

Here are the top eight IHDA Lenders of 2014:
  1. Wintrust Mortgage
  2. Busey Bank
  3. Mortgage Services Ill, LLC.
  4. Inland Home Mortgage Co.
  5. Prospect Mortgage, LLC.
  6. Key Mortgage Services, Inc.
  7. Marine Bank
  8. Standard Bank & Trust Company
IHDA Upcoming Dates

December 19
5 p.m.

IHDA vs. Developers Bowling Tournament
January 16
6 p.m. - 9 p.m.
Fireside Bowl
2648 W. Fullerton Ave.
Chicago, IL 60647

Illinois Governor's Conference on Affordable Housing
April 1 - 2
Hyatt Regency Chicago
151 E. Upper Wacker Dr.
Chicago, IL 60601
For more immediate updates, please join us on IHDA's Facebook page and follow us on Twitter:

Like us on Facebook Follow us on Twitter

10,500 First-Time Home Buyers Access $1.3 Billion in Affordable Mortgages Through the Welcome Home Illinois Program
IHDA Program News
Faced with a tight credit market, millennials and first-time home buyers turned to the Welcome Home Illinois program in record numbers in 2014. The program fueled the most productive year in IHDA's 30 years of mortgage lending, connecting more than 10,500 first-time buyers in nearly every county of the state with $1.3 billion in affordable loans and down payment assistance. After an unprecedented eight months, IHDA closed the program on November 21.

Many states continue to miss first-time buyers as millennial households, hit particularly hard by the recession, find it difficult to save for the down payment necessary to qualify for a traditional mortgage. Despite a return of stability to the housing market, the national share of first-time buyers fell to 33 percent this year, the lowest share since 1987 and well below the historical norm of 40 percent.

But younger households have voiced their desire to break into the market in Illinois. IHDA's down payment assistance, lower credit score requirements, competitive interest rates and tax savings for first-time and repeat buyers offer creative solutions for lenders and Realtors across the state. While first-time buyers will continue to see obstacles in 2015, IHDA's remaining catalog of homeownership programs will be available to provide the extra boost they need to make their first purchase possible.

Visit IHDA's Homeownership page for more information.
Brinshore Development's Emerson Square Apts. in Evanston
2015 QAP Approved by the IHDA Board of Directors
IHDA Program News The IHDA Board of Directors approved revisions to the 2015 Low-Income Housing Tax Credit Qualified Allocation Plan (QAP) at its meeting on November 21. The updated Plan has been submitted to the Governor for final approval.

IHDA received many useful comments and suggestions during the 30-day public comment period to help improve the QAP, promote best practices and address common concerns under Illinois' LIHTC program. A summary of the comments received and the changes made to the QAP in response to those comments will be available soon in the QAP documents section of IHDA's Multifamily Developer page.
Please note the 2015 LIHTC Program application deadlines are below:

9% LIHTC Program Timeline
PPA (Round I - 2015)12/19/2014
PPA (Round II - 2015)3/27/2015
9% Tax Credit Application (Round I - 2015)3/27/2015
9% Tax Credit Application (Round II - 2015)7/24/2015

Visit IHDA's Multifamily Developer Page for the complete multifamily financing program calendar.
New Tools and Incentives Are Available for Developers in IHDA's Opportunity Areas
IHDA Program News The Board-approved 2015 QAP includes new incentives to develop housing in market areas that have low poverty, high access to jobs and low concentrations of existing affordable rental housing. Starting in Allocation Round I - 2015, developers can earn up to 10 points on a 100-point scoring scale for projects located in IHDA-defined Opportunity Areas.

The current IHDA Opportunity Areas and the metrics used to determine them are available in a fully searchable mapping tool posted on IHDA's Opportunity Areas page. A new list of Opportunity Areas will be published with every QAP and we encourage developers to use this tool as they prepare their Preliminary Project Assessments.

Visit IHDA's Opportunity Areas page for more information.
Metropolitan Planning Council Releases Employer-Assisted Housing Guidebook
IHDA Program News Many people would prefer to live near their workplace and most employers see the benefits of having a nearby workforce, yet down payment requirements and high housing costs in job-rich areas often prevent that from happening.

The Metropolitan Planning Council (MPC) has promoted Employer-Assisted Housing (EAH) since 2001 as a proven solution to extend housing affordability for employees while enhancing the competitiveness of a business. Their EAH Guidebook makes it easy for employers to offer EAH and to enjoy its benefits, including IHDA's 3 to 1 match to employer-funded down payment assistance up to $7,500.

This compilation of more than 13 years of experience answers frequently asked questions from employers about why they should offer EAH and how to best use the financial incentives available. Visit the MPC EAH Guidebook to learn more about administering a successful Employer-Assisted Housing benefit in Illinois.
Come Out for the First Annual IHDA vs. Developers Bowling Tournament
The first-ever IHDA vs. Developers bowling tournament will take place at the Fireside Bowl in Chicago on January 16. Following several delays due to rain and poor field conditions, the two teams were unable to play the annual softball game and will bowl for the 2014 title instead. 

Support both teams at the Fireside Bowl, 2648 W. Fullerton Ave. in Chicago on Friday, January 16 at 6 p.m.
Developers, Remember to Include IHDA When Planning Your Groundbreakings and Grand Openings
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 Max Mueller in IHDA's Marketing & Communications Department when you start planning for your next event. He will 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
Congratulations to our public-private partners on the following groundbreakings and grand openings:

Mount Prospect Senior Horizon Ribbon Cutting (The Alden Foundation)
(December 3, 2014)
The Locks Ribbon Cutting (Rock Island Economic Growth Corp.)
(November 17, 2014)

ThornCreek Senior Living Apartments Groundbreaking (Weiss Properties, Turnstone Development)
(November 6, 2014)

IHDA In The News
(December 1, 2014) The Times

(November 24, 2014) Affordable Housing Finance

(November 21, 2014) Chicago Tribune

(November 17, 2014) KFVS

(November 17, 2014) Quad City Times

(November 17, 2014) Quad-Cities Online

(November 11, 2014) Chicago Defender

(November 7, 2014) The Times of Northwest Indiana

(November 7, 2014)