How to get FREE Money if you are a first-time home buyer from Illinois ($7500)

The Illinois Housing Development Authority (IHDA) has launched a new program that will provide down payments of $7,500 each to up to 4,000 first-time home buyers, veterans and others in 10 Illinois counties. 1stHomeIllinois loan program helps make home ownership a reality for first-time home buyers.

With the new 1STHomeIllinois loan program, first-time home buyers in Boone, Cook, DeKalb, Fulton, Kane, Marion, McHenry, St. Clair, Will or Winnebago counties can get $7,500 in down payment assistance with a competitive interest rate for a secure, 30-year fixed rate mortgage. Read the press release. It’s intended for those who haven’t owned a home in the last three years, but has borrower income limits of up to $106,400 for a family of three or more.

(ihda.org)

“1STHomeIllinois Offers:

  • $7,500 cash assistance for down payment and closing costs
  • 30-year, fixed-rate mortgage with a competitive interest rate
  • Choice of FHA, VA, USDA or Conventional loan type

Requirements:

  • Must be purchasing a one or two unit property in Boone, Cook, DeKalb, Fulton, Kane, Marion, McHenry, St. Clair, Will or Winnebago counties
  • First-time home buyer or anyone who has not owned a home in the last three years (Veterans are exempt) in one of the above 10 counties
  • Contribute $1,000 or 1 percent of the purchase price, whichever is greater
  • Meet the income and purchase price limits
  • Meet the credit requirements
  • Live in the home as primary residence
  • Complete home ownership counseling (online and in-person options available)
  • Property must be an existing residential dwelling (new construction excluded)”

Buying a home can be an exciting and intimidating process. Together with a knowledgeable REALTOR® (ME) and with an IHDA loan, we’ll strive to make the process as streamlined as possible so you can achieve your goal of home ownership.

I know I can help, so what are you waiting for!?! I’m looking forward to helping you navigate the process. I am an expert willing to help!

SINCERELY,

Brian Nygard, Chicago REALTOR®

Chicago Real Estate Broker

Berkshire Hathaway HomeServices

KoenigRubloff Realty Group: Gold Coast

900 N Michigan Ave #800 Chicago, IL 60611

bnygard@koenigrubloff.com

Office: 312–893–3579

Cell/Text: 312–217–8002

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