Illinois Down Payment Assistance
Illinois Down Payment Assistance Programs
A guide to current down payment assistance options in Illinois, including the state Housing Finance Agency, well-known city and county programs, and live DPA mortgage pricing for Illinois homebuyers.
Illinois Housing Finance Agency
Illinois Housing Development Authority (IHDA)
IHDA administers the primary DPA programs for Illinois. Program details below are current as of April 23, 2026 - confirm current terms directly with IHDA before applying.
Statewide DPA Programs in Illinois
Access Forgivable
IHDA
4% of purchase price up to $6,000 toward down payment and closing costs, forgiven monthly over 10 years.
Paired with: Conventional, FHA, VA, USDA
- Primary residence only
- Minimum FICO: 640
- Maximum DTI: 45%
- Income: IHDA county-based income limits apply.
- Homebuyer education required
30-year fixed-rate first mortgage required through an IHDA-approved lender.
Source: www.ihdamortgage.org
Access Deferred
IHDA
5% of purchase price up to $7,500 toward down payment and closing costs as an interest-free deferred second; repaid at sale, refinance, or payoff.
Paired with: Conventional, FHA, VA, USDA
- Primary residence only
- Minimum FICO: 640
- Maximum DTI: 45%
- Income: IHDA county-based income limits apply.
- Homebuyer education required
Source: www.ihdamortgage.org
Access Repayable
IHDA
10% of purchase price up to $10,000 toward down payment and closing costs as a 0% interest second repaid monthly over 10 years.
Paired with: Conventional, FHA, VA, USDA
- Primary residence only
- Minimum FICO: 640
- Maximum DTI: 45%
- Income: IHDA county-based income limits apply.
- Homebuyer education required
Source: www.ihdamortgage.org
IHDAccess Home
IHDA
Up to $15,000 in down payment and closing cost assistance, structured as a 0% interest second mortgage with repayment deferred up to 30 years unless the home is sold or refinanced earlier.
Paired with: Conventional, FHA, VA, USDA
- First-time homebuyer: Required
- Primary residence only
- Income: IHDA county-based income limits apply; check current published limits by county.
- Homebuyer education required
Launched by IHDA in March 2026. Delivered through a statewide network of approved lenders; may be combined with many local assistance programs.
Source: www.ihdamortgage.org
SmartBuy
IHDA
$5,000 in deferred down payment assistance plus up to 15% of purchase price (maximum $40,000) in student loan debt relief forgiven over 3 years.
Paired with: Conventional, FHA, VA, USDA
- Primary residence only
- Income: IHDA county-based income limits apply.
- Homebuyer education required
Applicant must have at least $1,000 in student loan debt and pay off the full remaining student loan balance at closing. Program funding cycles vary; confirm current status with IHDA before relying on availability.
Source: www.ihdamortgage.org
Opening Doors (Abriendo Puertas)
IHDA
$6,000 in down payment and/or closing cost assistance, forgiven after 5 years of owner occupancy.
Paired with: Conventional, FHA, VA, USDA
- Primary residence only
- Income: IHDA county-based income limits apply.
- Homebuyer education required
DACA recipients are eligible to apply. Funding cycles vary; confirm current status with IHDA.
Source: www.ihdamortgage.org
Major City & County Programs in Illinois
Chicago Home Buyer Assistance Program
City of Chicago Department of Housing · Chicago, IL
Down payment and closing cost assistance for income-eligible first-time homebuyers purchasing within Chicago city limits; assistance amount varies with loan size.
Administered through participating lenders. Income limits and current terms posted by the Department of Housing.
Source: www.chicago.gov
TaxSmart Mortgage Credit Certificate
City of Chicago Department of Housing · Chicago, IL
Federal income tax credit on a percentage of annual mortgage interest paid for qualified Chicago homebuyers.
Series issuance depends on available bond allocation; confirm current availability with the Department of Housing.
Source: www.chicago.gov
CHA Choose to Own Homeownership Program
Chicago Housing Authority · Chicago, IL
Eligible Housing Choice Voucher and Public Housing families may use their housing subsidy toward monthly mortgage payments.
Separate from traditional down payment assistance. Eligibility limited to qualifying CHA participants; pre- and post-purchase counseling required.
Source: www.thecha.org
Illinois Notes for Homebuyers
- Illinois imposes state and county real estate transfer taxes; some home-rule municipalities (including Chicago) add their own transfer tax.
2026 Loan Limits in Illinois
Conforming (Conventional)
$806,500 baseline
FHA
$524,225 floor
Most Illinois counties use the FHA floor limit.
Live DPA Pricing for Illinois
Pricing below is sourced live from hundreds of wholesale lenders for a Illinois scenario. Edit the inputs to match your situation.
FHA Down Payment Assistance
Up to 5% assistance; repayable second at first rate + 2% over 10 years
▸Program details
- ✓Minimum credit score: 580
- ✓Non-traditional credit also possible
- ✓Assistance up to 2.5%, 3.5%, or 5% of the lesser of purchase price or appraised value
- ✓Assistance can be used for down payment, closing costs, or both
- ✓Second lien: 10-year fixed, repayable
- ✓Second lien rate is 2% higher than the first mortgage rate
- ✓No first-time homebuyer requirement
- ✓No income cap
- ✓Purchase of primary residence only
- ✓Eligible properties: 1-unit residences, PUD, 2-4 units, FHA-approved condos, manufactured (single/double-wide)
- ✓DTI per AUS and FHA manual underwriting guidelines
- ✓First lien: FHA 30-year fixed
Assistance amount
Compare DPA options for Illinois with live pricing
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