CHICAGO, Ill. (WTVO) — Illinois has introduced a taxpayer-funded program that will give eligible first-time homeowners up to $15,000 as a down payment or closing cost assistance to purchase a new home.
The Illinois Housing Development Authority (IDHA) launched IHDAccess Home on Wednesday, expanding access to the IDHA’s mortgage assistance program.
Gov. JB Pritzker‘s proposed Fiscal Year 2027 budget includes the Building Up Illinois Developments (BUILD) housing initiative, which includes legislative reforms, capital investment, and financial tools to help families afford homes. The funding includes existing resources, including reallocating funds from prior down payment assistance programs, excess Single-Family indenture liquidity, and bond proceeds from future revenue bond debt issuances, according to a press release…