The spring homebuying season is upon us and there are a number of Illinois homebuyer assistance and mortgage financing programs available that could help get your buyers into a new home. From programs geared toward first-time buyers or veterans to federal loans for consumers buying in rural Illinois communities, there might be a financing option that fits your buyer.
This federal program through the U.S. Department of Agriculture (USDA) assists low to moderate income consumers buying homes in eligible rural areas, including many counties in Illinois.
A 30-year fixed-rate loan with 100 percent financing, no monthly mortgage insurance and doesn’t require a down payment. A one-time guarantee fee applies, but can be rolled into the loan amount. Eligible closing costs and lender fees may also be rolled into the loan or paid by the borrower.
Borrowers who are buying a property in an eligible rural area and have a household income that does not exceed the income guidelines established for a particular county. There are flexible credit guidelines so those with non-traditional credit histories can apply and the program is not limited to first-time buyers. Buyers may have an income of up to 115 percent the median income for the area.
Eligible properties include existing homes, new construction, modular homes, eligible condominiums, new manufactured homes and Planned Unit Developments (PUDs). There is no maximum purchase price; qualifying ratios are determined between a borrowers income and housing affordability.
Learn more: www.rurdev.usda.gov/HAD-Guaranteed_Housing_Loans 
Source: U.S. Department of Agriculture
A loan program offered by the Illinois Housing Development Authority (IHDA). The new @HomeIllinois is a safe, 30-year fixed rate mortgage with a suite of a la carte options so first-time buyers, repeat buyers or homeowners looking to refinance can customize the loan to fit their individual need. The options you choose will determine the interest rate for your loan.
@HomeIllinois options include:
@HomeIllinois program requirements:
Learn more and get started today at: www.athomeillinois.gov 
Source: Illinois Housing Development Authority
A mortgage guarantee program offered through the Illinois State Treasurer’s Office offers borrowers a 10 percent mortgage guarantee to help them qualify for an affordable and sustainable loan.
For eligible borrowers, the program guarantees up to 10 percent of their qualifying loans. The goal is to help Illinois residents avoid predatory lenders and obtain affordable mortgages to purchase or refinance a home.
Low- to moderate-income Illinois residents who otherwise might not be able to obtain a conventional mortgage. Borrowers must be documented Illinois income taxpayers. The homes being purchased or refinanced must be in Illinois.
Learn more: http://treasurer.il.gov/programs/finally-home/finally-home.aspx 
Source: Illinois State Treasurer’s Office