@HomeIllinois - First Time Buyer
< IHDA Home
Congratulations on the decision to buy your first home. With interest rates at historical lows and rents at an all-time high, there’s no better time to buy a home than now.
The @HomeIllinois mortgage is a safe, 30-year, fixed rate mortgage. That means your interest rate will never change. Are you concerned about saving for the down payment? With @HomeIllinois, the buyer contribution is $1,000 or 1 percent of the purchase price, whichever is greater. So for as little as $1,000 out of pocket, you can get into your first home.
@HomeIllinois is a 30-year fixed rate mortgage with a variety of options to choose from. The options you choose will determine the interest rate for your loan.
$5,000 down payment or closing cost assistance
Federal tax credit certificate
Lender paid mortgage insurance
Choice of FHA, VA, USDA or Conventional loan type
Contribute $1,000 or 1% of the purchase price, whichever is greater
Meet the income and purchase price limits
Meet the credit requirement
Live in the home as your primary residence
Complete homeownership counseling (online and in-person options available)
Ready to get started? Contact the First Northern Mortgage Team and they will guide you through the quick and easy process!
(888) 328-8677, extension 505 | firstname.lastname@example.org
Have additional questions? Visit the FAQ page of the @HomeIllinois website.