Illinois Housing Development Authority Invests $6 Million to Strengthen Housing Counseling and Grow Pathways to Sustainable Homeownership
CHICAGO – The Illinois Housing Development Authority (IHDA) announced that 30 housing counseling agencies will receive $6 million in grant funding to expand financial education, pre-purchase homebuyer education, and foreclosure prevention counseling services for thousands of Illinois families.
“Behind every home is a story, a family working hard to put down roots, a parent striving to give their children stability, or a first-time buyer dreaming of a place to call their own,” said IHDA Executive Director Kristin Faust. “This investment from FHLBank Chicago ensures that more Illinoisans, especially those historically locked out of the housing market, will have the tools, guidance, and support they need to succeed. Homeownership should not be out of reach for anyone willing to work toward it, and together we are breaking down barriers to make that dream possible.”
The Federal Home Loan Bank of Chicago (FHLBank Chicago) created and funded the Housing Counseling Resource Program (HCRP) to expand capacity for housing counseling services to serve traditionally low- to moderate-income and underrepresented households. IHDA administers the program on behalf of the State of Illinois and, since launching in 2022, HCRP has assisted 37,000 Illinois households, including more than 3,500 first-time homebuyers successfully purchase a home.
“Together with IHDA, we’re expanding pathways to successful and sustainable homeownership across Illinois,” said Katie Naftzger, Senior Vice President and Community Investment Officer at FHLBank Chicago. “Housing counseling provides families with the knowledge and confidence to make informed decisions and create stability that lasts.”
HCRP grantee agencies are available virtually throughout Illinois and can provide in-person counseling in more than 40 counties across the state. This grant allows the housing counseling agencies to better equip Illinoisans with the practical tools to:
- Build credit readiness and financial literacy
- Access down payment assistance and affordable mortgage programs
- Understand property taxes and insurance and gather helpful tips on maintaining your home
- Protect their homes through foreclosure prevention counseling
“The Housing Counseling Resource Program has played a huge role in helping the Embarras River Basin Agency (ERBA) continue to support individuals and families looking for safe, stable, and affordable housing,” said Sandy Deters, Housing Counseling Coordinator at ERBA. “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. This funding will allow us to deepen our impact over the next two years, reaching more households and strengthening the communities we serve. Additionally, because of the HCRP grant, we were able to leverage these funds as a match to secure two additional grants bringing $130,000 in home repair assistance to families in our area.”
Should an HCRP participant be ready to become a homeowner, the counseling agencies will educate them on the IHDA Access Mortgage programs that are available to both first-time and repeat homebuyers. Available statewide, each mortgage option comes with an affordable, fixed interest rate and up to $10,000 to assist eligible borrowers with their down payment and closing costs for the purchase of a new or existing home. These programs not only increase affordability but also help buyers enter the market sooner and build equity faster.
Contact information for each organization is available on IHDA’s website here. If you or someone you know is looking to buy a home in Illinois or struggling with their mortgage payment, contact an HCRP grantee to receive assistance today.
Housing Counseling Resource Program Grantees
| Housing Counseling Agency | Service Area |
| Brighton Park Neighborhood Council | Cook County |
| CEDA | Cook County |
| Chicago Urban League | Chicago |
| Chinese American Service League | Chicago |
| Community Investment Corporation of Decatur, Inc. | Decatur, Macon, Christian, and Logan County |
| Community Partners for Affordable Housing | Lake County and Northern Cook County |
| Consumer Credit Counseling Service of Northern Illinois, Inc. | Cook, Kane, Lake, McHenry, Will, Winnebago, Boone, DeKalb, and DuPage County |
| Embarras River Basin Agency Inc. | Clark, Coles, Crawford, Cumberland, Douglas, Edgar, Jasper, Lawrence, and Richland County |
| Far South Community Development Corporation | Chicago and St. Clair County |
| GLCU Foundation for Financial Empowerment | Chicago |
| Greater Southwest Development Corporation | Chicago |
| HOME DuPage | DuPage County |
| Justine PETERSEN | Champaign, Madison, and St. Clair County |
| Lake County Housing Authority | Cook, Lake, and McHenry Counties |
| LUCHA | Chicago |
| METEC | Peoria, Tazewell, Woodford, Stark, Knox, Fulton, and Mason County |
| Mid Central Community Action | McLean and Livingston Counties |
| Navicore | Peoria County (All IL Counties virtually) |
| Neighborhood Housing Services of Chicago, Inc. | Cook County |
| Northside Community Development Corporation | Cook County, DuPage, Lake, Will, and Kane County |
| Northwest Side Housing Center | Cook County |
| Open Communities | Northern Cook County |
| Region 1 Planning Council | Stephenson, Winnebago, and Boone County |
| Restoration America Inc. | Kane and McHenry County |
| Rock Island Economic Growth Corporation | Rock Island County, Mercer County, Whiteside County, Carroll County, Jo Daviess County, Ogle County, and Sangamon County |
| South Suburban Housing Center | SW Cook, Will, and Kankakee Counties |
| Spanish Coalition for Housing | Cook, Lake, McHenry, Kane, DuPage, Will, Kankakee, Winnebago, and Marion County |
| The Neighbor Project | Kane, Kendall, and Will County |
| The Resurrection Project | Cook DuPage, and Lake County |
| Will County Center for Community Concerns | Will, LaSalle, Gundy, and Kankakee County |
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About the Illinois Housing Development Authority
IHDA is a self-supporting and mission-driven state agency dedicated to financing the creation and preservation of affordable housing in Illinois. IHDA offers affordable mortgages and down payment assistance for homebuyers, provides financing for the development of affordable rental housing, and manages a variety of assistance programs to create communities where all Illinoisans can live, work, and thrive. Since it was established in 1967, IHDA has delivered more than $29 billion in state, federal, and leveraged financing to make possible the purchase, development, or rehabilitation of 335,750 homes and apartments for low- and middle-income households. For more information on IHDA programs, visit www.ihda.org.
About the Federal Home Loan Bank of Chicago
FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members’ customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit fhlbc.com.
