The Illinois Housing Development Authority is requesting applications for its Illinois Homeowner Assistance Fund (ILHAF) Program.
Donor Name: Illinois Housing Development Authority
State: Illinois
County: All Counties
Type of Grant: Grant
Deadline: 01/31/2023
Size of the Grant: $60,000
Details:
The American Rescue Plan Act passed by Congress in March of 2021 provided Illinois with funds to help homeowners at risk of default, foreclosure, and displacement as a result of the COVID-19 pandemic. Illinois homeowners experiencing financial hardship associated with the COVID-19 pandemic can apply for a housing assistance grant of up to $60,000. The program is administered by the Illinois Housing Development Authority (IHDA).
Assistance will be paid directly to the mortgagor’s loan servicer, taxing body, or other approved entity on behalf of the homeowner. Homeowners that have been disproportionately impacted by the pandemic will be prioritized in the distribution of funds.
Funding Information
Eligible applicants may apply for the amount that they are behind on mortgage and non-mortgage housing costs and/or mortgage forward payments up to a maximum of $60,000.
Who is eligible to apply?
- The Program will accept applications from eligible, Illinois homeowners who meet the following criteria:
- Homeowner owns and occupies the property as their primary residence
- Property is in Illinois
- Properties that are eligible for ILHAF are dwellings located in Illinois that are one- to four-unit residential properties, specifically: Single-family/row home (attached or detached properties); condominium units; cooperatives; and manufactured/mobile homes.
- Homeowner has experienced a financial hardship as a result of the COVID-19 pandemic since January 21, 2020 and is seeking assistance with past due mortgage and housing-related expenses. This can include a qualified financial hardship that began before January 21, 2020, and continued after that date.
- Homeowner is at least 30 days past due on the mortgage payments and/or housing-related expenses for which they are requesting ILHAF assistance.
- Household income is equal to or less than 150% area median income (AMI). Click here to determine your income eligibility for ILHAF.
- Homeowner’s first mortgage is a conforming loan and meets the federal limits for the year in which the loan was taken.
- Homeowner cannot receive the same assistance for mortgage payment, mortgage reinstatement, property charges, property taxes, etc. from another federal, state, local, nonprofit, or tribal source.
For more information, visit Illinois Housing Development Authority.