Through IHDA’s network of 180 participating lenders, $1.5 billion in loans were made to 12,200 families, generating 6,100 jobs and infusing $297.6 million into Illinois’ economy. FY2015 was IHDA’s biggest year in over 30 years of mortgage lending and the most productive year in HFA history.
When 24-year-old Abbie Sundberg’s mother lost her battle with cancer, the dedicated single mom was determined to find a stable home to raise her two young children and three siblings. “I wanted to have enough living space for everyone.”
Finding a large enough home wasn’t the only challenge – saving for the large down payment could take years. In December 2014, IHDA’s Welcome Home Illinois program provided the answer to her dreams with $7,500 in down payment assistance and a below-market interest rate.
IHDA introduces programs to help interested and qualified homebuyers enter the marketplace, including Welcome Home Illinois focusing on first-time buyers.