The most prevalent housing challenges facing Illinois in Fiscal Year 2017 were homeowners still struggling to save their homes from foreclosure almost one decade after the economic crisis of 2008, recovery and revitalization needs at the local level, and the demand for more supportive housing for the state’s most vulnerable populations. IHDA met each of these challenges with tangible results.
In FY17, IHDA’s mortgage assistance and foreclosure mitigation programs provided $26.8 million to help 14,100 families save their home or find the best possible solution for their specific situation. FY17 also saw IHDA close over $800 million in loans with 5,900 homebuyers, the majority of which purchased their first home in a community targeted for revitalization. Finally, on the rental housing side of our business IHDA invested $632.4 million and leveraged $268.9 million to build or preserve 4,300 units in 48 developments, and launched a special financing round for properties serving supportive housing populations.