@Home Illinois - Repeat Buyer
< IHDA Home
Are you looking to upgrade, downsize or simply change zip codes? The @HomeIllinois mortgage is the mortgage for you. For the first time ever, IHDA is offfering $5,000 in down payment or closing cost assistance to repeat buyers. With interest rates at historical lows, there's no better time to buy your next 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 next 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.
Options Include:
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$5,000 down payment or closing cost assistance
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Lender paid mortgage insurance
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Choice of FHA, VA, USDA or Conventional loan type
Requirements:
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Contribute $1,000 or 1% of the purchase price, whichever is greater
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Meet the income and purchase price limits
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Meet the credit requirements
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Live in the home as your primary residence
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Complete homeownership counseling (onine 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 | mortgagegroup@fncu.org
Have additional questions? Visit the FAQ page of the @HomeIllinois website.