7 Best IHDA Mortgage Lenders of 2020
IHDA loan programs make homeownership more affordable for Illinois residents. See our top picks for IHDA participating lenders.
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The Illinois Housing Development Authority, or IHDA, offers a variety of programs designed to help you buy a home.
To get an IHDA loan, and up to $10,000 in down payment and closing cost assistance, you’ll have to work with a participating lender. But with over 165 different participating lenders across the state of Illinois, which one should you choose?
NerdWallet can help you narrow it down. We looked at IHDA lenders, identifying the best ones for a variety of borrower needs. Start your search by comparing the lenders below.
The Illinois Housing Development Authority, or IHDA, offers a variety of programs designed to help you buy a home.
To get an IHDA loan, and up to $10,000 in down payment and closing cost assistance, you’ll have to work with a participating lender. But with over 165 different participating lenders across the state of Illinois, which one should you choose?
NerdWallet can help you narrow it down. We looked at IHDA lenders, identifying the best ones for a variety of borrower needs. Start your search by comparing the lenders below.
Best IHDA Mortgage Lenders
Lender | NerdWallet rating | Min. credit score | Min. down payment | Learn more |
---|---|---|---|---|
![]() New American Funding: NMLS#6606 Learn more at New American Funding | Best for borrowers with nontraditional credit histories | 620 | 3% | Learn more at New American Funding |
![]() Guaranteed Rate: NMLS#2611 Learn more at Guaranteed Rate | Best for mobile experience | 620 | 3% | Learn more at Guaranteed Rate |
![]() Fairway Independent Mortgage: NMLS#2289 Learn more at Fairway Independent Mortgage | Best for mobile experience | 620 | 3% | Learn more at Fairway Independent Mortgage |
![]() PNC: NMLS#446303 | Best for government loan programs + borrowers with nontraditional credit histories | 620 | 3% | Read review |
![]() loanDepot: NMLS#174457 | Best for government loan programs | 620 | 5% | Read review |
![]() Wintrust Mortgage: NMLS#449042 | Best for personal service | 620 | 3% | Read review |
![]() US Bank: NMLS#402761 | Best for personal service | 620 | 5% | Read review |

at New American Funding
New American Funding: NMLS#6606

Min. credit score
620Min. down payment
3%at New American Funding

at Guaranteed Rate
Guaranteed Rate: NMLS#2611

Min. credit score
620Min. down payment
3%at Guaranteed Rate

at Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289

Min. credit score
620Min. down payment
3%at Fairway Independent Mortgage
loanDepot: NMLS#174457

Min. credit score
620Min. down payment
5%Wintrust Mortgage: NMLS#449042

Min. credit score
620Min. down payment
3%US Bank: NMLS#402761

Min. credit score
620Min. down payment
5%More participating IHDA mortgage lenders
NerdWallet hasn’t reviewed the financial institutions below, but the IHDA lists them among its top participating lenders.
Offers FHA, VA and USDA loans.
Full online application and ability to request a call back from a loan officer.
A number of Illinois branch offices.
Online application and loan progress tracking.
Offers certified VA loan originators.
Limited number of Illinois branch offices.
Offers FHA, VA and USDA loans.
Provides a money-back guarantee on all mortgage preapprovals.
Branch offices in Illinois are limited but it offers an online loan application.
Offers FHA, VA and USDA loans.
Lending options for those who are self-employed or have past bankruptcy.
About 10 Illinois branch offices, no online application.
More from NerdWallet
Last updated on January 2, 2020
Methodology
To recap our selections...
NerdWallet's Best IHDA Mortgage Lenders of 2020
- New American Funding: Best for borrowers with nontraditional credit histories
- Guaranteed Rate: Best for mobile experience
- Fairway Independent Mortgage: Best for mobile experience
- PNC: Best for government loan programs + borrowers with nontraditional credit histories
- loanDepot: Best for government loan programs
- Wintrust Mortgage: Best for personal service
- US Bank: Best for personal service