The mortgage approval process today faces more scrutiny than in the past, with lenders often requiring higher credit scores and larger down payments. Today’s standard 20-percent down payment requirement has proven difficult for many would-be first-time buyers in Illinois and across the nation. IHDA’s Welcome Home Illinois loan can help first-time buyers in Illinois who qualify by providing the down payment assistance they need to get into their first home, while helping to ensure it’s a great fit financially as well.

  • Welcome Home Illinois includes:
    • $7,500 cash assistance to cover down payment
    • 30-year fixed-rate mortgage with a below-market interest rate
    • Variety of loan options to choose from, including FHA, Conventional, VA, and USDA
  • Eligibility:
    • Buyers must be first-time homebuyers or anyone who has not owned a home in the last three years
  • Requirements:
    • Contribute one percent or $1,000 of the purchase price, whichever is greater
    • Purchase a one- or two- unit property within Illinois
    • Live in property as primary residence
  • Ready to get started?  Let our IHDA network of qualified lenders guide you through the quick and easy process.  Find a lender today!


Non-Targeted Areas Income & Purchase Price Limits

MRB/FHA AND MCC ATTACHMENT Maximum Household Income Limits Maximum Purchase Price Limits
County where Residence is Located Household of 1 or 2 Household of 3 or More New Construction1 Unit Existing Construction1 Unit Existing Construction2 Units
Some of these limits have been determined by a Private Letter Ruling issued by the IRS to the Authority. These limits may be used only in connection with Authority Programs. Effective 06/01/2014
Cook, Du Page, Kane, Lake, McHenry, Will  $88,320 $102,986 $357,750 $357,750  $457,973
Dekalb  $87,960 $102,620 $357,750 $357,750  $457,973
Grundy  $88,333 $101,583 $357,750 $357,750  $457,973
Kendall  $94,500 $108,675 $357,750 $357,750  $457,973
McLean  $84,200 $96,830 $265,158 $265,158  $339,456
Champaign, Ford, Piatt  $71,400 $82,110 $265,158 $265,158  $339,456
Bond, Calhoun, Clinton, Jersey, Macoupin, Madison, Monroe, St. Clair  $69,500 $79,925 $265,158 $265,158  $339,456
Ogle  $69,700 $80,155 $265,158 $265,158  $339,456
Putnam  $73,200 $84,180 $265,158 $265,158  $339,456
Boone, Winnebago  $73,320 $85,540 $331,875 $331,875  $424,858
All Other Counties  $69,500 $79,925 $265,158 $265,158  $339,456
  • IHDA's First-Time Home Buyer Program
  • Patrick Yocum

    Having the opportunity to get that assistance really allowed us to do a lot of the things that we wanted to do immediately. You can see the things that we've been able to put in because of the assistance that IHDA gave us... It's a great investment and I would not take anything back

    Patrick Yocum
  • IHDA has also been able to provide some direct sources to funds to homeowners in emergency situations. Those sources have really helped a lot of families keep their homes and work with us to be able to come up with some long term solutions

    Bob Campbell
    Deputy Director, Homestart Rockford
  • Because of IHDA I can know that my children are safe and they are stable and are going to grow up in a good neighborhood. I can relax and enjoy a place and not have to move out after one year, I can put up picture frames. This is what I've been waiting for; a place to call home.

    Bernadette McCahill