Illinois First-Time Home Buyer Programs of 2023

Abby Badach Doyle
By Abby Badach Doyle 
Updated
Edited by Johanna Arnone

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If you’re a first-time home buyer — or even a repeat buyer — in Illinois, the state’s housing development authority may help you clear the hurdles of buying a home through its down payment assistance and loan programs. Almost all of the programs offered by the Illinois Housing Development Authority, or IHDA, are valid in any county in Illinois.

IHDA highlights and eligibility requirements

Here are the home buying programs offered for Illinois residents. You'll find assistance for down payments and closing costs. 

Highlights

  • Assistance is available to apply to your down payment or closing costs.

  • One assistance program is structured as a loan that doesn’t have to be repaid.

  • 30-year fixed-rate loans are offered.

  • Government-backed loans are available.

Eligibility

  • Minimum credit score of 640 is generally required.

  • Contribute $1,000 or 1% of the purchase price, whichever is greater.

  • The home must be your primary residence.

  • You must complete homeownership counseling, either in person or online.

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Mortgage loans from our partners

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

NBKC - PURCHASE logo
Check Rate

on NBKC

NBKC

4.5

NerdWallet rating 
NBKC - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on NBKC

Prosperity Home Mortgage - PURCHASE logo
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on Prosperity Home Mortgage

Prosperity Home Mortgage

4.0

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Prosperity Home Mortgage - PURCHASE logo

4.0

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Min. credit score 
580

Min. down payment 

0%

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on Prosperity Home Mortgage