Bootcamp For Buyers

First Time Homebuyer Programs in Illinois

Illinois offers a variety of programs through the Illinois Housing Development Authority (IHDA) to assist first-time homebuyers. These programs provide financial assistance, competitive loans, and unique incentives to make homeownership more attainable.

IHDAccess Forgivable

The IHDAccess Forgivable program provides down payment and closing cost assistance.

  • Offers up to 4% of the purchase price (maximum $6,000) as a forgivable loan.
  • Assistance is forgiven over 10 years of homeownership.
  • Available statewide through IHDA-approved lenders.

SmartBuy Program

The SmartBuy Program helps first-time buyers tackle student loan debt while purchasing a home.

  • Provides up to $40,000 in student loan debt relief.
  • Includes a 30-year fixed-rate mortgage with competitive rates.
  • Down payment assistance of $5,000 is also available.

IHDAccess Deferred

This program offers down payment assistance as a deferred loan with no monthly payments.

  • Provides up to 5% of the purchase price (maximum $7,500).
  • Repayment is deferred until the home is sold, refinanced, or paid off.
  • Can be combined with IHDA first mortgage loans.

Illinois’s first-time homebuyer programs are designed to provide the financial tools and support needed to make homeownership more accessible. Explore these options and take the first step toward owning your dream home in the Land of Lincoln.