As of March 2, homeownership in Illinois may be up to $15,000 closer for your buyers.
The Illinois Housing Development Authority (IHDA) has introduced IHDAccess Home: a downpayment assistance program designed specifically to make homeownership more affordable for first-time buyers across Illinois. Here’s what that means for your clients:
• They can save up to 6% of the purchase price
• Assistance is capped at $15,000
• Assistance can be used toward downpayment and/or closing costs
• Available on Conventional, FHA, and VA 30-year fixed mortgages
For many buyers, the monthly payment isn’t the only hurdle — it’s the upfront cash needed to get to the table. This program directly addresses that.
Why this matters in today’s market
We continue to see buyers re-enter the market as rates have stabilized near 6%. Inventory remains tight, and competition is real. The buyers who win right now are the ones who are fully underwritten, strategically structured, and confident in their numbers. Programs like IHDAccess Home help remove the cash barrier without sacrificing competitiveness.
This isn’t just about assistance — it’s about expanding your buyer pool and positioning more clients to write strong offers.
Who should you be thinking about?
As you consider who to reach out to from your sphere, a few examples of individuals who could benefit from this program include:
• Renters who assumed they needed 10–20% down.
• Buyers with high income but limited liquid savings.
• First-time buyers who paused last year due to affordability.
If you have a buyer who is close, but not quite there, connect them with your Key Mortgage loan officer today to see if IHDAccess Home or another IHDA program could help bridge the gap. Sometimes the difference between “looking” and “under contract” is simply knowing what’s available. And this one could be worth up to $15,000.