IHDA Awards $2.8 Million To Illinois First-Time Homebuyers Funds will assist with down payment, closing costs, subordinate financing and homebuyer education

CHICAGO , IL – July 12, 2010 – (RealEstateRama) — The Illinois Housing Development Authority (IHDA) today announced the award of $2.8 million in grants and loans to 436 first-time homebuyers to assist in the purchase of a new home. The funds will be allocated to nine agencies for disbursement to Illinois residents to assist with down payment and closing costs, subordinate loans and homebuyer education to income-eligible homebuyers.