- Illinois Housing Development Authority
- 111 E. Wacker Drive, Suite 1000
- Chicago, Illinois, 60601
- Phone: 1-877-456-2656
- Email: investments@ihda.org
- Website Link:
Purpose of the Program
Affordable Advantage provides permanent first mortgage financing for stabilized new construction, refinance, or acquisition/minimal rehabilitation of up to $10 million. Loans over $3 million will be insured by the Federal Housing Agency – Housing Finance Agency Multifamily Risk-Sharing program. Find more information in the Affordable Advantage Program Guidelines.
Who is Eligible
For more information, please contact IHDA at investments@ihda.org or visit IHDA’s website at https://www.ihda.org/developers/multifamily-financing-programs/first-mortgage-loan-programs/
Application Process
For more information, please contact IHDA at investments@ihda.org or visit IHDA’s website at https://www.ihda.org/developers/multifamily-financing-programs/first-mortgage-loan-programs/
How Funds are to be used
For more information, please contact IHDA at investments@ihda.org or visit IHDA’s website at https://www.ihda.org/developers/multifamily-financing-programs/first-mortgage-loan-programs/
Type of Assistance
Loans