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Buying a Home Has Never Been Easier for Illinois’ Veterans

Posted By admin on April 16, 2009

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The Illinois Housing Development Authority is willing to help any armed service person to purchase a home if he or she has one thousand dollars in saving to apply towards the purchase of a home.

The program is called “G-I Loans for Heroes”.  The serviceperson would, however, have to have two mortgages.  

The first mortgage will have a low interest for eighty percent of the purchase price.  The second mortgage has an interest rate of zero for the remaining twenty percent of the purchase price up to $40,000.  The serviceperson will also receive a grant of up to two thousand five hundred towards closing cost.  In addition, the serviceperson would have to attend homeownership counseling.

To qualify you must be:

  • an honorable discharged veteran
  • currently in the armed services and a first time home buyer
  • a first time home buyer in the reserve and currently on active duty

The serviceperson can purchase a single family home, condominium, or duplex. 

For further information contact the Illinois Housing Department Authority at http:www.ihda.org or call them toll free at 800 942 8439 or 312 836 5244.


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About the author

admin

Serena Brown is broker and owner of Taylor-Brown Real Estate. She is the author of this blog. She has also co-authored a book entitled Should I Short Sale My Home. She has authored a e-book How to Sell My Home. She will be authoring a book on real estate investing by April of 2010 and several reports. She has dual degrees in Business Administration and Electronic Engineering Technology. She prides herself on being up to date on all trends, news, and education related to real estate to include short sale, loan modification, etc. She also makes sure her clients are abreast of how these changes will affect them financial. Therefore, stay tuned for great information in 2010.

Comments

6 Responses to “Buying a Home Has Never Been Easier for Illinois’ Veterans”


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"Welcome to Taylor-Brown Real Estate Talks"

Taylor-Brown Real Estate Talks' goal is to empower the consumer with education about real estate, insurance, and mortgage trends, news, terms, etc., so that the consumer can achieve financial wealth through listing and selling real estate.


About the author

admin

Serena Brown is broker and owner of Taylor-Brown Real Estate. She is the author of this blog. She has also co-authored a book entitled Should I Short Sale My Home. She has authored a e-book How to Sell My Home. She will be authoring a book on real estate investing by April of 2010 and several reports. She has dual degrees in Business Administration and Electronic Engineering Technology. She prides herself on being up to date on all trends, news, and education related to real estate to include short sale, loan modification, etc. She also makes sure her clients are abreast of how these changes will affect them financial. Therefore, stay tuned for great information in 2010.

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