SPRINGFIELD, Ill. (WTVO) — Illinois Governor JB Pritzker has unveiled a new home ownership program that is aimed to help those with low to moderate incomes.

Pritzker announced $15 million in funding for the program, which is called “HFA1.” It will provide $10,000 to be used for down payments, closing costs, or both.

The program will be administered by the Illinois Housing Development Authority, which said that it will offer a competitive rate and limit fees for borrowers.

“HFA1” is expected to help more than 1,500 new home buyers.