State Loan Programs

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State Housing Initiatives:

  • Illinois Building Blocks Pilot Program targets vacant and foreclosed properties in six Cook County communities. Read more.

  • The Illinois Foreclosure Prevention Network connects families facing foreclosure with resources to help keep their homes. Read more.

Welcome Home Heroes

Welcome Home Heroes aims at providing closing costs and downpayment assistance to Illinois Veterans and active military members. It is estimated that nearly 1,000 Illinois veterans and active duty military members will qualify for the $10,000 grants and other tax credit incentives. 

Illinois SmartMove Loan Program

Offers up to $6,000 for down payment and closing costs as a 10-year zero percent forgivable loan. The program is administered by the Illinois Housing Development Authority and targets borrowers who need extra flexibility on sources of income or who have limited funds for down payment and closing costs. SmartMove's features included: maximum loan-to-value (LTV) ratios from 96.5 to 100 percent; conventional, FHA, USDA products available; fixed-rate loans with up to 30-year terms; and mortgage insurance requirements at one-third less than other conventional products. Household income and purchase price limits apply.

Illinois Hardest Hit Program

The Illinois Housing Development Authority has partnered with the U.S. Department of Treasury to offer temporary mortgage payment assistance to households that are struggling with income loss due to unemployment or underemployment, but are working to regain sufficient income to keep their home.

The Illinois Hardest Hit Program offers two types of assistance:

1. Reinstatement assistance to pay mortgage arrearages, fees, and penalties in full, and

2. Monthly mortgage payment assistance to pay 100% of the mortgage payment owed to the servicer for up to 18 months while the household makes monthly contribution payments to the Illinois Housing Development Authority during their enrollment in the program. Maximum assistance is $25,000, depending on location.

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