08/17/2023
This week, I want to bring your attention to another downpayment assistance program that is back and better than ever — the IHDA Opening Doors program. With increased income and purchase price limits, this program can help even more borrowers get into a new home this year.
Here are some highlights:
Offers a flat $6,000 5-year forgivable second mortgage at 0% interest — no monthly payments
Minimum 3% downpayment required (only 1% coming from the borrower)
Increased income limits ranging from $132,360 in Cook, DuPage, Kane, Lake, McHenry, and Will to $136,920 in Kendall County; $123,960 in Grundy County; $122,280 in all others