CHICAGO – Governor J-B Pritzker and the Illinois Housing Development Authority have launched a new program called IHDAccess Home to make homeownership more accessible for first-time buyers across the state.
The initiative offers eligible first-time homebuyers up to $15,000 in assistance for down payments and closing costs.
“Homeownership is the cornerstone of the American Dream and a vital engine for building generational wealth—but high entry costs have locked too many working families out of the market,” Pritzker said.
The assistance is structured as a zero-percent interest second mortgage, with repayment deferred for up to 30 years unless the home is sold or refinanced earlier.
The program combines an affordable, fixed-rate 30-year mortgage with the assistance for both current and new-construction homes.
Eligibility for IHDAccess Home is based on the borrower’s credit profile, household income, and the purchase price of the home. Prospective buyers are also required to complete pre-purchase homeownership counseling.
The governor has also proposed an additional $50 million in BUILD Illinois funds in his FY27 budget specifically for down payment assistance programs like this one.
Income limits apply and vary by county. Interested buyers can find a participating lender and learn more at IHDA Mortgage.
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