IHDA offers several program incentives available to both first-time and repeat borrowers throughout Illinois. Coupled with FHA, Conventional, VA, and USDA loan programs, borrowers can receive up to $10,000 in assistance with a minimal investment of their own funds.

• Minimum 640 credit score
• Borrower income limit of $143,880 annually (Cook, DuPage, Kane, Lake, McHenry, and Will Counties), $142,560 annually (Grundy and McLean Counties), $158,880 annually (Kendall County), $133,680 annually (Calhoun, Clinton, Jersey, Madison, Monroe, and St. Clair Counties), $137,640 annually (Menard and Sangamon Counties), and $132,120 (all other counties)
• Purchase price limit of $644,232 for 1 unit property and $796,816 for a 2-unit\property (all counties)

Qualifying borrowers can receive a forgivable grant up to $10,000. Coupled with FHA, Conventional, VA, USDA, and IHDA loan programs, FHLBC Downpayment Plus® is available to both first-time and repeat buyers.

• Minimum borrower contribution $1,000
• Income limits based on total household size
• May contain limited funds or a limited time frame and may not be available at the time of application, and may carry first-time homebuyer education restrictions and/or require homebuyer education
• Available in Illinois, Wisconsin, Michigan (Allegan, Kent, or Ottawa County), Indiana (Lake, Porter County), California (Los Angeles, Orange, Riverside, San Bernardino, Ventura County), Florida (Collier, Lee County) and specific counties in Iowa and Minnesota

This program offers $2,000 to qualifying borrowers purchasing a home as a primary residence and can be paired with federal, state, and local grants or loans.

• Grant up to $2,000 per household
• Grant is forgiven immediately at closing
• All borrowers must be first-time homebuyers
• Borrower must occupy property
• Income limits based on total household size
• Purchase Price Limits: 1-Unit $270,000, 2-Units $400,000
• Minimum borrower contribution $1,000 
• Eligible in the following counties:
  • Illinois: Cook, DuPage, Kane, Lake, Winnebago, McHenry, and Will  
  • Wisconsin: Dane, Jefferson, Kenosha, Milwaukee, Ozaukee, Racine, Rock,
  • Walworth, Washington, and Waukesha
  • Indiana: Lake (partial County)
  • Florida: Collier, Lee (partial County)

Available in the city limits of Chicago, qualifying borrowers will receive an income tax credit of 25% of the annual mortgage interest paid a year (up to $2,000) for the life of the loan. TaxSmart cannot be coupled with IHDA loan programs.

When you partner with Wintrust Mortgage, our experts will guide you every step of the way.

Whether you are buying, selling, or refinancing, it’s important to have an experienced mortgage professional to help you analyze your financing options and make sure the closing goes smoothly. As a loan officer with Wintrust Mortgage, Chanon has the expertise and experience to get you the right mortgage and to handle your transaction professionally. With his experience—and our rates and programs—you’re sure to get the mortgage that’s right for you.