Housing Development Authority

The Illinois Housing Development Authority (IHDA) finances the creation and preservation of affordable housing throughout the State of Illinois to increase the supply of decent and safe places for people of low and moderate means to live. IHDA is an independent, self-supporting state agency that issues bonds based on its own strong credit rating to raise private capital to finance affordable housing. In addition, IHDA oversees and allocates federal and state resources to community partners to offer affordable mortgages to homebuyers and construction loans and grants to developers of multifamily rental properties. Since its creation in 1967, IHDA has allocated more than $15 billion and financed approximately 250,000 affordable housing units for residents of Illinois