Al Rodriguez
Full-Time Broker / #1 Sales Agent for Beaulieu Real Estate







                  Illinois Buliding Blocks Pilot Program

 

                   Communities

 

                Down payment and closing cost assistance available for homebuyers purchasing vacant homes in Berwyn, Chicago Heights, Maywood, Park Forest, South Holland.

 

                      Features

 

  • $10,000 in down payment and closing costs assistance as a 2-year, 0-percent forgivable loan.
  • Maximum LTVs from 90 to 100 percent.
  • FHA/VA and conventional insured products available.
  • Fixed rate, 30-year term loan.
  • Reduced mortgage insurance requirements on conventional programs.     

 

                  Qualifications

 

  • Minimum credit score requirement (restrictions apply: 600 (FHA/VA loans), 660 (conventional loans)
  • Property must be vacant.
  • Maximum total debt (back end) ratio between 41-45 percent.
  • Buyer must contribute 1 percent or 1,000 of the purchase price, whichever is greater.
  • Household income and purchase price limits apply.
  • Homeownership counseling is required.    

 

                       For more information go to: www.ihda.org or call me at 773-573-9798

 

       " Buying a property now at low rates and low prices with down payment assistance is a great opportunity and a good investment for the future."