Illinois Housing Development Authority Offering Funds For Mortgage Assistance | Chicago Association of REALTORS®

The Illinois Housing Development Authority (IHDA) received $250 million of federal funds to help homeowners who are still behind on their mortgage because of the COVID-19 pandemic.

An estimated 12,000 homes will be eligible to receive $30,000 in mortgage assistance. IHDA will open applications in April.

Homeowners that are interested in applying must:

  • Have an income less than 150% of the Area Median Income
  • Be primary residents of their properties
  • Be at least 30 days behind on mortgage or property tax payments
  • Have experienced a financial hardship directly related to COVID-19 that began, continued or worsened after January 21, 2020

For more information, including how to apply, what documents to have prepared and more, click here.