Income & Purchase Price Limits* – Effective 8/1/16
|Maximum Income Limits||Maximum Purchase Price Limits*|
|Location of Home||Household of 2 or Less||Household of 3 or More||Newly Constructed Home||Existing Home||Two-unit Property|
*Price limits refer to the appraised value of the existing home in case of refinance.
**All other counties includes the following eighty-five (85) counties: Adams, Alexander, Bond, Brown, Bureau, Calhoun, Carroll, Cass, Christian, Clark, Clay, Clinton, Coles, Crawford, Cumberland, De Witt, Douglas, Edgar, Edwards, Effingham, Fayette, Franklin, Fulton, Gallatin, Greene, Hamilton, Hancock, Hardin, Henderson, Henry, Iroquois, Jackson, Jasper, Jefferson, Jersey, Jo Daviess, Johnson, Kankakee, Knox, La Salle, Lawrence, Lee, Livingston, Logan, Macon, Macoupin, Madison, Marion, Marshall, Mason, Massac, McDonough, Mercer, Monroe, Montgomery, Morgan, Moultrie, Ogle, Peoria, Perry, Pike, Pope, Pulaski, Putnam, Randolph, Richland, Rock Island, Saline, Schuyler, Scott, Shelby, St. Clair, Stark, Stephenson, Tazewell, Union, Vermillion, Wabash, Warren, Washington, Wayne, White, Whiteside, Williamson, Woodford.
The income calculation includes all income generated by persons 18 years of age or older who will live in the household, regardless of who is actually on the title (for more information, see the Household Income section on page 10 of the IHDA Procedural Guide.)
• Some of these limits have been determined by a Private Letter Ruling issued by the IRS to the Authority.
|Cook, DuPage, Kane, Lake, McHenry, Will||$79,432||$91,347||$344,819||$344,819||$441,419|
|Champaign, Ford, Piatt||$72,500||$83,375||$255,573||$255,573||$327,186|
|*All Other Counties||$72,300||$83,145||$255,573||$255,573||$327,186|
IHDA's First-Time Home Buyer Program
Having the opportunity to get that assistance really allowed us to do a lot of the things that we wanted to do immediately. You can see the things that we've been able to put in because of the assistance that IHDA gave us... It's a great investment and I would not take anything backPatrick Yocum