Illinois program provides grant to military veterans

Welcome Home Heroes – IHDA

The Illinois Welcome Home Heroes program provides critical financial support to men and women who have honorably served in our armed forces.

Welcome Home Heroes offers:

• $10,000 cash assistance to cover down payment and closing costs
• 30-year fixed rate mortgage with a competitive interest rate
• Federal tax credit that reduces the federal income tax liability by up to $18,000 over the loan life*
• Variety of loan options to choose from, including FHA, Conventional, VA, and USDA

* based on a 30-year, $128,000 loan with a 4 percent interest rate

Eligibility:

• Veterans (need not be first-time homebuyers)
• Active military personnel, reservists and Illinois National Guard members (must be first-time homebuyers)

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

10,000 for Veterans

Bart Basinski

Thanks for reading our Orland Park  Real Estate Blog!
Posted By: Bart Basinki – Orland Park Real Estate Agent – Team Baz
TeamBaz is a super team of Keller Williams Preferred Realty
specializing in Orland Park Real Estate and Chicago Suburban Real Estate
(708) 277-9229

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