AHC Overview

AHC’s Mission
The Affordable Housing Corporation of Lake County is a nonprofit agency that increases and preserves affordable housing opportunities throughout Lake County via high-integrity, high-impact services and partnerships that protect and empower consumers and communities.

AHC’s Vision
To become Lake County’s most agile, responsive and impactful programming resource for affordable housing needs that are unmet by the private market.

History & Services
AHC grew out of the Affordable Housing Commission, a special task force created by the Lake County Board in 1991 for the purpose of understanding the affordable housing crisis and identifying solutions, especially for low- and moderate- income households. The Commission eventually realized that a nonprofit agency with full-time staff would be necessary to implement the programmatic solutions identified by the Commission. Thus, AHC was born, and was fully operational by 1995. The Commission still exists today as a public-private partnership that is authorized by special resolution of the County Board. It is administered by AHC, and is dedicated to furthering policy, tools and strategies that will increase and preserve affordable housing throughout the County. AHC has continued to grow programmatically since its inception. We have offered mortgage assistance programs since 1995. In 1998, we began offering homebuyer education classes and a homeowners rehab program. We added pre-purchase and financial counseling, along with foreclosure prevention services in 2000. These activities still form the core of our services, although our programs have been refined over time to better meet the changing needs of low-income homebuyers and homeowners. Since inception, we have helped more than 1,600 households purchase a home through our mortgage assistance programs; provided homebuyer education and counseling for more than 3,600 homebuyers; homeowner rehab services for more than 130 homeowners; and foreclosure prevention counseling for over 450 homeowners. We have operated as a loan originator and servicer since 1995, providing subordinate loans for both home purchase and home improvement. Our current portfolio is nearly $7.3 million, and our weighted portfolio at risk is 1.2%.

Reputable, Accountable and HUD-Certified
As a nonprofit HUD-certified agency housing agency, you can be sure you are receiving access to trustworthy services and trained housing professionals that put the consumer first. Our bottom line is furthering our mission versus generating a profit. AHC has monthly financial statements and an annual audit prepared by an independent accountant. As a recipient of government funding, we are accountable to and monitored by HUD, Lake County and the Illinois Housing Development Authority. As noted above, our $7.3 million loan portfolio has experienced very limited foreclosures, with a weighted portfolio-at-risk of only 1.2%. AHC has a national reputation for excellence, having received NeighborWorks of America Innovations in Homeownership award in 2008.

Annual Report
Click here to download our most recent annual report.