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. 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. 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

Contact information for each organization is available on IHDA’s website. 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.