Illinois Access Repayable
Illinois Housing Development Authority offers Access Repayable to home buyers in Illinois: the cap is $10,000, with up to 10% of the price available, as a repayable loan.
- Amount
- The cap is $10,000, with up to 10% of the price available.
- What help is provided
- Loan you repay
- Only first-time buyers
- No
- Your credit score
- At least 640
What's the repayment process for Illinois Access Repayable?
Monthly payments over 10 years pay off this repayable loan, and it charges no interest.
This repayable loan acts as a small second mortgage that you pay off monthly, usually combined with your main home loan payment.
Who can qualify for Illinois Access Repayable?
- The limit depends on the county (targeted and non-targeted areas have separate limits).
- Being a first-time buyer isn't required.
- Your credit score must be at least 640.
- Take a homebuyer education course before you buy a home.
- You get it alongside a fixed rate IHDA 30-year loan: FHA, VA, USDA, FNMA HFA Preferred or FHLMC HFA Advantage.
Your county and household size set your exact income limit; see the agency's income chart. Use our HUD income limits tool to see the median income in your area.
Applying for Illinois Access Repayable
- Because the Illinois Housing Development Authority sends this help through its approved lenders, you apply with one of them alongside your home loan application.
- After checking the home, your credit and your income against the program's rules, the lender sets the money aside for you.
- At closing, the help goes toward your closing costs and down payment.
For the full rules and to see whether applications are open, go to Illinois Housing Development Authority's page for Access Repayable, or find a lender through the agency's list of participating lenders.
Talk to a lender about Illinois Access Repayable
Tell us where you're buying and a lender that works with Illinois's programs can tell you whether Illinois Access Repayable fits you, and what you could combine with it.
Prefer not to call? Share your details and the lender will get in touch.
More first-time buyer programs in Illinois
- Illinois Access Home:
Deferred loan: as much as 6% of the price, no more than $15,000.
- Illinois Access Forgivable:
Forgivable loan: as much as 4% of the price, no more than $6,000.
- Illinois Access Deferred:
Deferred loan: as much as 5% of the price, capped at $7,500.
- 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