Housing Initiatives

Housing Initiatives are the primary conduit through which the Foundation accomplishes its mission. Through partnerships with federal, state and corporate entities as well as REALTORS, real estate agents, and lenders the Foundation has developed a model for success. Our goals of informing and educating potential homeowners are combined with down-payment assistance and affordable mortgages. The result is a program which targets the specific needs of lower income Illinois residents and ensures their success in achieving and maintaining the American dream of home ownership.

Potential homebuyers work with Foundation certified REALTORS, real estate agents and lenders who pre-qualify applicants for participation in the Housing Initiative. Qualified applicants are required to receive pre-purchase homebuyer counseling through the Partnership for HomeOwnership Foundation’s Housing Counseling Centers to access below market rate mortgage funds the Foundation administers on behalf of the Illinois Housing Development Authority. Mortgage funds for initiatives targeting rural areas have been guaranteed by the United States Department of Agriculture Rural Development.

Homebuyers

(Must work with a certified REALTOR, Real Estate Agent,

 or Lender to complete the application process).

• Pre-purchase homebuyer counseling schedule.

IAR HomePower Program

IAR HomePower Program's interest rate is currently 6.75%

(This applies to NEW reservations only).

• REALTOR HomePower Summary

• Realtor HomePower Spanish Summary - en Españoll

• HomePower Map -- Cook County!

• HomePower Certified Agents

• HomePower Lenders

• HomePower Legal Services - Discounted Rates!

Rural Development Program

IHDA's interest rates for the Rural Development Program are 7.10% with 1% in closing cost assistance or 6.75% with no closing cost assistance. 

(This applies to NEW reservations only.)

Currently, IHDA is requiring a 5% downpayment for this program.

Rural Guarantee Housing Initiative, Real Estate Agents & Lenders

• How do I become certified to participate?

Rural Guarantee Housing Initiative Downloads

(Microsoft Word formatted documents)

• Rural Housing Initiative Guidelines

• Application

• Approved Lenders

• Lender Guidelines

• Notice of Repairs

• Sample Advertisement

• Things To Know If You Are Building With Manufactured Housing 

  (A Supplement To The Rural Guarantee Housing Initiative)

• Manufactured Vs. Modular Homes

• USDA-RD Approved Manufactured Home Dealers/Contractors

• Site-Built, Modular and Manufactured Homes

Quincy Housing Initiative

• Quincy Initiative Guidelines

• Application

• 2008 Quincy New Construction Program

• Notice of Repairs