The IHDA I-REFI Program

PERSONAL SERVICE & ATTENTION RIGHT IN YOUR NEIGHBORHOOD

 

The new I-REFI program is designed to help homeowners who are current on their monthly payments but owe more than their home is worth.

Starting August 1, 2016, the Illinois Housing Development Authority (IHDA) will offer underwater homeowners up to $50,000 in federal assistance through the Hardest Hit Fund (HHF) to buy down their mortgage and refinance them into an affordable loan.

• Qualified homeowners may receive up to $50,000 in federal assistance forgiven after three years

• Applicants must be current on their mortgage for at least 12 months

• Homeowners must be within IHDA’s income, home price and credit score limits

• Pre-assistance combined home loan-to-value (LTV) must be greater than 110%

• Post-assistance loan-to-value will be 90-97%

• Homeownership counseling is required

Call 847-939-9500 Today for More Information on the I-Refi Program and to find your closest Wintrust Mortgage Loan Originator!

Program rates, terms, and conditions are subject to change at any time. All approvals are subject to underwriting guidelines. Wintrust Mortgage is a division of Barrington Bank & Trust Company, N.A., a Wintrust Community Bank, NMLS# 449042 © 2016 Wintrust Mortgage.