CHAMPAIGN, Ill. (Chambana Today) — The Illinois Housing Development Authority (IDHA) allocated $2 million to Habitat for Humanity of Illinois (HFHIL) to administer a new round of the Community Impact Fund, a program that helps working families buy a home in Central and Southern Illinois. The program is expected to create 100 new homeowners across Illinois.
“Homeownership is the foundation of strong, stable communities, but too many hardworking families are shut out by rising costs and limited access to credit,” said IHDA executive director Kristin Faust. “By partnering with Habitat for Humanity of Illinois, IHDA is making sure that more families across our state can put down roots, build wealth, and create brighter futures. This investment is about more than homes; it’s about opportunity, stability, and hope.”
The fund provides down payment assistance in the form of forgivable grants. This reduces barriers that prevent many families from qualifying for traditional mortgages. Financing for the program comes from IDHA’s Illinois Affordable Housing Trust Fund.
Since the Community Impact Fund was created in 2014, HFHIL has helped 259 Illinois families become homeowners through more than $4.6 million in down payment assistance.
“Every family deserves a safe, affordable place to call home,” Chicagoland Habitat for Humanity chief executive officer Sarah Brachle Wagner stated. “The Community Impact Fund not only makes homeownership possible for families who thought it was out of reach but also gives them the chance to invest their time, energy, and pride through sweat equity by assisting their local Habitat for Humanity in creating additional housing opportunities. With IHDA’s continued support, we can expand this life-changing program and strengthen communities across Illinois – one home, one family at a time.”
According to the Federal Reserve, only thirty-five percent (35%) of adults with incomes below $50,000 own a home, compared with eighty-five percent (85%) of households earning $100,000 or more. Rising housing costs have widened this gap, leaving many younger adults unable to access stable housing. The Community Impact Fund directly addresses this challenge.
The Community Impact Fund is administered through the Chicagoland Habitat for Humanity. 31 Habitat affiliates, including Champaign, DuPage County, Fox Valley, Lake County, McLean County, Peoria, Rockford, and Will County have already used the Community Impact Fund to strengthen neighborhoods and open doors for working families.