The Welcome Home Illinois Program

Helping Families. Supporting Communities. Empowering Individuals.

Name:

The Welcome Home Illinois Home Loand Program

Description:

The Welcome Home Illinois loan comes with down payment assistance that drastically reduces the total cost of your home and a below-market interest rate that saves you hundreds of dollars each month.

Welcome Home Illinois includes:

  • $7,500 cash assistance to cover down payment
  • 30-year fixed-rate mortgage with a below-market interest rate
  • Variety of loan options to choose from, including FHA, Conventional, VA, and USDA

Eligibility:

  • Buyers must be first-time homebuyers, anyone who has not owned a home in the last three years or qualified Veterans

Requirements:

  • Contribute one percent or $1,000 of the purchase price, whichever is greater
  • Purchase a one- or two- unit property within Illinois
  • Live in property as primary residence

Learn more about the new Welcome Home Illinois Home Loan Program today!

Link:

http://welcomehomeillinois.gov/