IHDAccess Repayable

What is IHDAccess Repayable?

IHDAccess Repayable is a repayable second loan for homebuyers in Statewide, Illinois.

• IHDAccess Repayable provides 10% of the purchase price up to $10,000 as a 0% interest second mortgage repaid in equal monthly principal payments over 10 years. Provides the largest dollar assistance of the three IHDA DPA tiers in exchange for the borrower taking on a small amortizing second-mortgage payment. Paired with a 30-year fixed IHDA first mortgage (FHA/VA/USDA/Conventional). Available statewide to first-time and repeat homebuyers; 640 FICO minimum; 1% borrower contribution.
• 10% of the purchase price up to $10,000 in down payment and closing-cost assistance, structured as a 0% interest amortizing second mortgage repaid in equal monthly payments over a 10-year term. Paired with an IHDA 30-year fixed-rate first mortgage (FHA/VA/USDA/Conventional). Available to first-time AND repeat homebuyers in all 102 Illinois counties.
• Funding comes from State, HFA, and Bond.

How much assistance does it provide?

IHDAccess Repayable offers up to $10,000 in assistance.

• Buyer contribution: Borrower must contribute $1,000 or 1% of purchase price, whichever is greater.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

IHDAccess Repayable is a repayable second loan and is repaid under the terms set by the administering agency.

• Repayment is triggered by Equal monthly principal-only payments over 10-year term alongside primary mortgage and remaining balance due in full at sale, refinance, first-mortgage payoff, transfer of title, or non-owner-occupancy.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

IHDAccess Repayable is open to buyers who will live in the home as their primary residence.

What are the income limits?

IHDAccess Repayable limits household income to $158,880.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

IHDAccess Repayable caps the purchase price at $951,665.

• Eligible property types include Single-family detached, 1-4 unit (per first-mortgage product), condominium, townhouse, PUD.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

IHDAccess Repayable serves buyers purchasing in Statewide, Illinois.

• The program targets specific areas: IHDA designates federally qualified target areas with relaxed first-time-homebuyer rule and income limits.

How do you apply?

Applications for IHDAccess Repayable go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through IHDA-approved HUD-certified homebuyer education (online or in-person; required for first-time homebuyers)..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through IHDA-approved lender reserves funds via IHDA Mortgage's LOS at loan reservation; subject to program funding availability., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.