Local governments often ask IHDA to create homeownership programs in their community to help stimulate economic growth, to build more vibrant communities through homeownership, to help create affordable housing near jobs and support the businesses in the community, and for many other reasons.

Municipalities cede tax exempt bond volume cap to IHDA so that we can create a customized program for your community. The program can be tailored to address any specific population or concern for the community, and will likely contain most of these elements:

• Below market rate mortgages
• Closing cost and down payment assistance
• I-Loan Certificates that provide credit to federal income taxes

Municipalities can also access state and federal subsidy programs to help assist homebuyers. Please see our HOME Funds information page for more information on how municipalities can apply.