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.
- $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
- 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!
Brian Nygard, Chicago REALTOR®
Chicago Real Estate Broker
Berkshire Hathaway HomeServices
KoenigRubloff Realty Group: Gold Coast
900 N Michigan Ave #800 Chicago, IL 60611
Realty Resources LLC