Illinois Access Deferred

Illinois Housing Development Authority offers Access Deferred to home buyers in Illinois: as much as 5% of the price, but no more than $7,500, as a deferred loan.

Amount: As much as 5% of the price, but no more than $7,500
What kind of help: Loan you repay later
Must be a first-time buyer: No
Your credit score: At least 640

Paying back Illinois Access Deferred: how does it work?

This 0% loan is deferred: you repay it when you sell, refinance or pay the mortgage off.

If you sell, refinance or finish paying the first mortgage, a deferred loan must be repaid in full; until then it costs nothing monthly.

Illinois Access Deferred: who can qualify?

It depends on the county (targeted and non-targeted areas have their own limits).
Being a first-time buyer isn't required.
Your credit score must be at least 640.
You must take a homebuyer education course before buying.
This help is tied to an IHDA 30-year fixed-rate loan of one of these kinds: FHA, VA, USDA, FNMA HFA Preferred or FHLMC HFA Advantage.

Check the agency income chart for your exact income limit by county and household size. Use our HUD income limits tool to find the median income in your area.

Illinois Access Deferred: how to apply

This help reaches you from the Illinois Housing Development Authority via approved lenders; apply with one of them as part of your home loan.
The lender compares the program's rules with your credit, your income and the property, then sets the money aside for you.
When you close, the help is paid toward your closing costs and down payment.

See the full rules and if applications are open at Illinois Housing Development Authority's page for Access Deferred. You can also pick a lender from the agency's participating lender list.

Talk to a lender about Illinois Access Deferred

Tell us where you're buying and a lender that works with Illinois's programs can tell you whether Illinois Access Deferred fits you, and what you could combine with it.

Call 866-602-7460

Prefer not to phone? If you send your details, the lender will get in touch.

More first-time buyer programs in Illinois

Illinois Access Home:
Deferred loan of up to 6% of the price, no more than $15,000.
Illinois Access Forgivable:
Forgivable loan worth up to 4% of the price, capped at $6,000.
Illinois Access Repayable:
Repayable loan of up to 10% of the price, with a $10,000 maximum.
Illinois Opening Doors (Abriendo Puertas):
Forgivable loan of up to $6,000.

Every Illinois first-time home buyer program · Down payment help in every state