Academy Mortgage is approved to do loans with the Illinois Housing Development Authority (IHDA) there are several new down payment assistance programs to help first-time homebuyers and veterans. 

Many of these programs also offer below-market interest rates to help make monthly mortgage payments even more affordable. 

Whether you are a first-time homebuyer or a repeat buyer, Academy Mortgage Corporation and the Illinois Housing Development Authority may have the product for you. IHDA’s Grant programs have a variety of options and grant amounts to help customize a product that fits your needs.

FIRST-TIME BUYER AND REPEAT BUYER PROGRAMS

 

Pre-Qualify Now

Let's take the first step together.

Requirements:

  • Contribute $1,000 or 1 percent of the purchase price, whichever is greater.
  • Meet the income and purchase price limits.
  • Meet the credit requirements.
  • Live in the home as your primary residence.
  • Complete homeownership counseling (online and in-person options available).
  • FHA, VA, USDA and Conventional loan options available.

Have additional questions? Email erich.stonewall@academymortgage.com

Erich Stonewall

Branch Manager, Producing | NMLS# 207386

Direct: (815) 312-5825

Mobile: (815) 252-2939

Email: erich.stonewall@academymortgage.com

 

420 Financial Court, Suite #110

Rockford, IL 61107

 


REQUEST DOWN PAYMENT

ASSISTANCE INFORMATION

Illinois Down Payment Assistance Programs

Congratulations on the decision to buy your first home
With interest rates still low and rents at an all-time high, there’s no better time to buy a home than now.
Website

Corp NMLS #3113

www.nmlsconsumeraccess.org

Equal Housing Lender

MAC1119-1467030

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The $7,500 available with 1st Home Illinois is a forgivable loan. The borrower does not need to pay it back, as long as they live in the home for five years. If they sell or refinance the home within the first five years, a portion of the down payment will need to be paid back to IHDA.

The 4% up to $6,000 available with Access Forgivable is a forgivable loan. The borrower does not need to pay it back, as long as they live in the home for ten years. If they sell or refinance the home within the first ten years, a portion of the down payment will need to be paid back to IHDA.

The 5% up to $7,500 available with Access Deferred is a deferred loan. The borrower will be required to repay the funds at maturity of the 1st mortgage, unless repaid sooner, or in the event of a refinance or sale.

 The 10% up to $10,000 available with Access Repayable is a repayable loan. The borrower will be required to repay the funds. The payment terms are 0 percent interest, repaid over 10 years.

Illinois Down

 Payment Assistance

 Programs