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."