@HomeIllinois Program Launches for Home Owners and Buyers

TWL_2015_mar_blog10After shutting down several of its most popular mortgage assistance programs, the Illinois Housing Development Authority (IHDA) is finally launching a new consolidated program that benefits both first-time home buyers and existing homeowners who are looking to refinance their current mortgage or move to a different home. The income-based program will offer 30-year fixed rate mortgages along with a host of other buyer-friendly incentives such as down payment assistance of up to $5,000, attractive interest rates, and more relaxed credit score requirements. To qualify for the @HomeIllinois program, applicants’ income cannot exceed $94,500 for households of one or two or $108,675 for households with three or more people.

To learn more about the program, visit athomeillinois.gov.

Image Source: Hesperian