1. Habitat for Humanity Illinois’ Building Impact Program
Audra Hamernik
Executive Director, Illinois Housing Development Authority

2. New buyers struggling to gain a foothold in the housing market
Tight lending standards causing many lower-income borrowers to drop out of the market.
Rising land and construction costs make entry-level homes less attractive for builders, leaving fewer affordable homes for entry-level buyers.
Rising home prices hitting first-time and lower-income buyers the hardest.

3. Habitat for Humanity of Illinois’ Building Impact Program
Provided 45 families with down payment assistance during the first two rounds since the launch in 2014 with $700,000.
IHDA provided an additional $1,000,000 grant in June 2016
Expected to assist more than 50 families
Five-year forgivable loans
<80% AMI are eligible to receive up to $15,000
<50% AMI are eligible to receive up to $20,000

4. Habitat for Humanity of Illinois’ Building Impact Program
Grants may be used to:
Offset construction or rehabilitation costs over and above the appraised value of a home.
Buy down the sales price of a home to ensure the mortgage loan does not exceed 30% of a household’s gross monthly income.
Approved homeowners must contribute 250 hours of “sweat equity” into the construction or rehabilitation of their new home.

5. IHDA and Habitat for Humanity of Illinois
Common mission of building and preserving affordable housing throughout Illinois.
Emphasis on areas identified as high need in Central and South Central Illinois.
Habitat for Humanity of Illinois sub-grants funding through an application to its network of 51 affiliate agencies.
The Building Impact Program has been utilized by 14 affiliates working in underserved communities throughout the state.

6. The Gatson family
“Habitat is helping us, but also helping the community to be stronger. I am so proud to be able to help my children grow up and be motivated to do the right things in life.”

7. The Vanderbilt family
“I feel as if my life is turning a corner, by becoming a homeowner and sharing this with my extended family.”

8. Moving forward
Latest funding round will help an estimated 57 families across Illinois realize the American dream of owning their own home.
Families that would otherwise be unable to secure a traditional mortgage.
Habitat already has $250,000 committed – 25% of the total allocation – to 13 households under the new program.