Illinois Housing Development Authority Earns National Distinction from U.S. Bank

Illinois Housing Development Authority Earns National Distinction from U.S. Bank

CHICAGO – The Illinois Housing Development Authority (IHDA) was honored by U.S. Bank as one of the nation’s top housing finance agencies (HFA) for its leadership in advancing homeownership. The recognition, presented during the IHDA Board meeting, highlights the agency’s success in helping more than 5,000 Illinois households purchase homes last year alone, nearly 90% of whom were first-time buyers.

“Expanding equitable access to homeownership remains one of our most important priorities as housing continues to shape the financial security of families across Illinois,” said IHDA Executive Director Kristin Faust. “Owning a home is more than simply having a place to live; it’s a powerful tool for building generational wealth. We are proud of the impact our programs have in every corner of the state and grateful for partners like U.S. Bank who make this work possible.”

IHDA connects homebuyers with affordable financing and down payment assistance through a statewide network of more than 160 lenders. This includes the recently announced Access Home initiative that combines an affordable 30-year, fixed-rate mortgage with up to $15,000 for down payment and/or closing cost assistance for both current and new-construction homes. After a homeowner closes an IHDA loan, U.S. Bank purchases and services the loan, ensuring homeowners have long-term support and guidance throughout the life of their mortgage.

U.S. Bank partners with more than 40 state and local HFAs to originate and service these loans, stretching geographically from Alaska to major metro counties in Florida. Each year, U.S. Bank recognizes the HFAs that demonstrate leadership in advancing homeownership opportunities. The recognition today reflects IHDA’s continued impact in connecting families with the resources they need to purchase homes and build stronger communities across Illinois.

Prospective homebuyers interested in IHDA Mortgage programs can find a participating lender and learn more about available assistance at www.ihdamortgage.org.

IHDA is a self-supporting and mission-driven state agency dedicated to financing the creation and preservation of affordable housing in Illinois. IHDA offers affordable mortgages and down payment assistance for homebuyers, provides financing for the development of affordable rental housing, and manages a variety of assistance programs to create communities where all Illinoisans can live, work, and thrive. Since it was established in 1967, IHDA has delivered more than $29 billion in state, federal, and leveraged financing to make possible the purchase, development, or rehabilitation of 335,750 homes and apartments for low- and middle-income households. For more information on IHDA programs, visit www.ihda.org.

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