Funds Dry Up for the Most Successful Homebuyer Assistance Program in Illinois History

twl_2014_nov_blog20Welcome Home Illinois, the state’s most successful assistance program for homebuyers, is ending this month. The $80 million budget set aside for the popular program has been depleted earlier than expected. The program, which started this spring, provided $7,500 in down payment assistance to more than 10,356 homebuyers–most of whom say they would not have been able to purchase their home without the program’s assistance. No immediate plans have been announced to replace the program, which was primarily tapped by millennials aged 34 and younger. The state will still offer homebuyer assistance programs for active military, veterans, and consumers looking to rehab vacant homes to use as their primary residence.

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