1ST-GENERATION HOMEBUYER LOANS

Illinois General Assembly - Full Text of HB4283

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HB4283 - 104th General Assembly

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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB4283

Introduced 1/14/2026, by Rep. Michael Crawford

SYNOPSIS AS INTRODUCED:

20 ILCS 3805/7.34 new
30 ILCS 105/5.1038 new

Amends the Illinois Housing Development Act. Requires the Illinois
Housing Development Authority (Authority) to establish and administer a
First-Generation Homebuyer Down Payment Assistance Program to provide
targeted assistance to eligible first-generation homebuyers throughout the
State for the purchase of a single-family or non-commercial multi-family
residence. Sets forth eligibility requirements. Permits the Authority to
prioritize assistance to applicants purchasing homes in designated
community priority areas, applicants with household income below 80%, and
applicants purchasing homes in areas with low homeownership rates, high
housing costs burdens, or limited access to affordable mortgage credit.
Provides that assistance under the program shall be provided as a
forgivable loan to be forgiven pro rata on a monthly basis over a 5-year
period of continuous owner-occupancy. Sets forth the available loan
amounts and provides that assistance funds may be used for down payments,
closing costs, mortgage insurance, interest rate buydowns, or principal
reduction. Permits the Authority to waive repayment in cases of documented
financial hardship that is beyond the control of the homebuyer. Permits
the Authority to adopt rules to implement and administer the program.
Effective July 1, 2026.
LRB104 16472 KTG 29867 b

A BILL FOR

HB4283
LRB104 16472 KTG 29867 b
1

AN ACT concerning State government.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 5.
The Illinois Housing Development Act is amended
5
by adding Section 7.34 as follows:

6

(20 ILCS 3805/7.34 new)
7

Sec. 7.34.
First-Generation Homebuyer Down Payment
8
Assistance Program.

9

(a) The General Assembly finds that:

10

(1) Homeownership remains one of the strongest
11

pathways to long-term financial stability.

12

(2) First-generation buyers face additional barriers
13

including lack of family homeownership history, limited
14

intergenerational financial support, and higher upfront
15

cost burdens.
16

(3) Illinois currently offers down payment assistance
17

but does not have a program specifically tailored to
18

first-generation homebuyers.

19

(b) The Authority shall establish and administer a
20
First-Generation Homebuyer Down Payment Assistance Program.
21
The Authority shall use moneys in the First-Generation
22
Homebuyer Down Payment Assistance Fund, a special fund created
23
in the State treasury, and any other funds appropriated for

HB4283
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LRB104 16472 KTG 29867 b
1
this purpose, to provide targeted assistance to eligible
2
first-generation homebuyers throughout the State.
3

(c) For purposes of this Section, "eligible
4
first-generation homebuyer" means an individual:

5

(1) who has resided in Illinois for at least one year
6

immediately preceding his or her application for
7

assistance;
8

(2) whose household income is at or below 120% of the
9

area median income at the time of purchase;

10

(3) who meets the following criteria:
11

(A) has never owned a home or has not owned a home
12

in the last 3 years;

13

(B)(i) has parents or prior legal guardians who
14

have never owned a home, or (ii) was previously placed
15

in foster care, kinship care, or institutional care
16

prior to attaining the age of 18;

17

(4) if applicable, has a spouse or partner who also
18

meets the requirements under paragraph (3);
19

(5) who completes a homebuyer education course
20

approved by the U.S. Department of Housing and Urban
21

Development or the Authority; and
22

(6) who plans on occupying the home as a primary
23

residence. For purposes of this paragraph, "home" includes
24

any non-commercial multi-family residence.

25

(d) The Authority may prioritize assistance applications
26
from:

HB4283
- 3 -
LRB104 16472 KTG 29867 b
1

(1) applicants purchasing homes in designated
2

community priority areas, as defined by the Authority;

3

(2) applicants with household income below 80% of the
4

area median income;

5

(3) applicants purchasing homes in areas with low
6

homeownership rates; and
7

(4) applicants purchasing homes in areas with high
8

housing costs burdens or limited access to affordable
9

mortgage credit.

10

(e) Assistance under this Section shall be provided as a
11
forgivable loan. Eligible first-generation homebuyers may use
12
assistance funds to purchase a single-family or non-commercial
13
multi-family residence. The Authority may provide: (i)
14
standard assistance that is the greater of 10% of the purchase
15
price of a home or $20,000 per eligible first-generation
16
homebuyer household; or (ii) community priority area
17
assistance that is the greater of 15% of the purchase price of
18
the home or $30,000 per eligible first-generation homebuyer
19
household. The amount of assistance may be adjusted for market
20
conditions over time at the discretion of the Authority. The
21
assistance may be used for down payments, closing costs,
22
mortgage insurance, interest-rate buydowns, or principal
23
reduction.

24

(f) A forgivable loan provided under the Section shall be
25
forgiven pro rata on a monthly basis over a 5-year period of
26
continuous owner-occupancy. The Authority, in its discretion,

HB4283
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LRB104 16472 KTG 29867 b
1
may waive repayment in cases of documented financial hardship
2
due to loss of income, disability, natural disaster, or some
3
other circumstance beyond the control of the eligible
4
first-generation homebuyer.

5

(g) The Authority shall do the following in furtherance of
6
its administration of the program:

7

(1) Establish documentation and verification processes
8

(including self-attestation under penalty of perjury for
9

parental homeownership history) and fraud prevention
10

measures.
11

(2) Conduct outreach to prospective buyers statewide.
12

(3) Provide multilingual information and homebuyer
13

workshops.
14

(4) Issue an annual public report, to be posted on its
15

official website, that provides data and information on
16

assistance applicants, outcomes, assistance amounts, and
17

home retention rates.

18

(h) The Authority may adopt any rules necessary to
19
implement and administer the program.

20

Section 10.
The State Finance Act is amended by adding
21
Section 5.1038 as follows:

22

(30 ILCS 105/5.1038 new)
23

Sec. 5.1038.
The First-Generation Homebuyers Down Payment
24
Assistance Fund.

HB4283
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LRB104 16472 KTG 29867 b
1

Section 99.
Effective date.
This Act takes effect July 1,
2
2026.

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