CHICAGO — Gov. JB Pritzker said last Friday that 533 Illinois residents became homeowners through the second round of the state’s SmartBuy program, which provided $16 million in student loan debt relief over 12 weeks and offered affordable mortgage assistance. Launched in December 2024, the program combined a fixed-rate mortgage with up to $40,000 in student loan forgiveness and $5,000 in down payment or closing cost support. In total, SmartBuy has helped more than 1,160 Illinois households eliminate nearly $33 million in student loan debt while purchasing homes, reducing the average age of Illinois Housing Development Authority borrowers by almost a decade. Both rounds of SmartBuy were funded through Rebuild Illinois capital funds, though the program has closed as reservations exceeded available funding. IHDA’s Access Mortgage programs remain open statewide.
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