IHDA Awards $6 Million to Strengthen Housing Counseling and Expand Pathways to Homeownership (Chicago, IL) – Thousands of Illinois families will gain expanded access to financial education, homebuyer counseling, and foreclosure prevention services thanks to a new $6 million investment from the Illinois Housing Development Authority (IHDA).
The funds, awarded to 30 housing counseling agencies across the state, aim to help residents build credit, understand the homebuying process, and maintain long-term financial stability. The initiative is part of the Housing Counseling Resource Program (HCRP), created and funded by the Federal Home Loan Bank of Chicago (FHLBank Chicago) and administered by IHDA.
“Behind every home is a story — a family working hard to put down roots or a first-time buyer dreaming of a place to call their own,” said IHDA Executive Director Kristin Faust. “This investment ensures that more Illinoisans, especially those historically locked out of the housing market, have the tools and guidance they need to succeed.”
Since launching in 2022, the HCRP has assisted more than 37,000 Illinois households, including over 3,500 first-time homebuyers who successfully purchased homes. The program’s focus is on expanding access for low- to moderate-income and underrepresented households across the state.
“Housing counseling provides families with the knowledge and confidence to make informed decisions and create stability that lasts,” said Katie Naftzger, Senior Vice President and Community Investment Officer at FHLBank Chicago. “Together with IHDA, we’re expanding pathways to successful and sustainable homeownership across Illinois.”
The grant will allow local agencies to continue offering personalized support — from credit readiness and financial literacy to foreclosure prevention — both in person and virtually. Agencies operate in more than 40 Illinois counties.
One of the recipients, the Embarras River Basin Agency (ERBA), says the program has already made a tangible difference.
“With IHDA’s support, we’ve been able to provide the kind of counseling that really makes a difference, helping people understand their options and make confident decisions about their housing,” said Sandy Deters, ERBA Housing Counseling Coordinator. “This funding will allow us to deepen our impact, reach more households, and strengthen the communities we serve.”
Through HCRP, participants ready to buy a home are also connected to IHDA’s Access Mortgage programs, which offer affordable, fixed-rate loans and up to $10,000 in down payment and closing cost assistance for eligible buyers. The programs are available to both first-time and repeat homebuyers statewide.
The 30 counseling agencies receiving funding include organizations serving Cook County, Chicago, and communities throughout Illinois — from Rock Island to Peoria, Champaign to DuPage, and beyond.
Residents seeking help with homebuying or mortgage issues can find contact information for participating agencies on IHDA’s website at www.ihda.org.
IHDA Awards $6 Million to Strengthen Housing Counseling and Expand Pathways to Homeownership
