Illinois down payment assistance, deep-checked against current state program sources.
A current inventory of state-run and state-administered assistance in Illinois, plus national DPA options. Funding and rate sheets can still change after this review date.
Reviewed September 11, 2026 • Joshua Dobson, NMLS #190260
Quick comparison
| Program | Potential assistance | Published min. FICO | Repayment/Forgiveness | Biggest catch |
|---|---|---|---|---|
| IHDAccess Forgivable | 4% of purchase price, up to $6,000 | 640 | Second mortgage forgiven monthly over 10 years | Verify live funding and current lender matrix before relying on the program. |
| IHDAccess Deferred | 5% of purchase price, up to $7,500 | 640 | 0% deferred second; due at maturity/refi/sale or other trigger | Verify live funding and current lender matrix before relying on the program. |
| IHDAccess Repayable | 10% of purchase price, up to $10,000 | 640 | 0% second repaid monthly over 10 years | Verify live funding and current lender matrix before relying on the program. |
| IHDA SmartBuy | $5,000 DPA/closing-cost second + student-debt payoff up to 15% of purchase price, max $40,000 | program/first-mortgage specific | DPA second deferred; student-debt assistance forgiven monthly over 3 years under current IHDA FY2026 materials | Most of the headline benefit pays student debt, not cash to close; the $5,000 DPA is a separate repayable/deferred component. |
IHDAccess Forgivable
IHDAccess Forgivable is a current state-administered homebuyer assistance option. Mortgage Navigator uses the administering agency as the controlling source and avoids filling changing details with stale third-party numbers.
Published minimum FICO: 640
IHDAccess Deferred
IHDAccess Deferred is a current state-administered homebuyer assistance option. Mortgage Navigator uses the administering agency as the controlling source and avoids filling changing details with stale third-party numbers.
Published minimum FICO: 640
IHDAccess Repayable
IHDAccess Repayable is a current state-administered homebuyer assistance option. Mortgage Navigator uses the administering agency as the controlling source and avoids filling changing details with stale third-party numbers.
Published minimum FICO: 640
IHDA SmartBuy
IHDA SmartBuy is a current state-administered homebuyer assistance option. Mortgage Navigator uses the administering agency as the controlling source and avoids filling changing details with stale third-party numbers.
Published minimum FICO: program/first-mortgage specific
National programs Illinois buyers should also check
National Homebuyers Fund
NHF multi-state assistance may be available through participating lenders. Current lender/product terms control credit, pricing, assistance and repayment or forgiveness.
Published minimum FICO: product/lender specific
Chenoa Fund
Chenoa Fund provides FHA down-payment assistance through approved lender partners. Current matrices control credit, pricing and second-mortgage terms.
Published minimum FICO: product/lender specific
Illinois's biggest DPA lesson
Illinois has three core IHDAccess DPA structures plus SmartBuy, which combines a smaller DPA second with student-debt relief. V25 restores SmartBuy because IHDA’s FY2026 activity report confirms projected continued funding.
Let Josh compare the available programs.
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