Home mortgage interest rates continue to provide borrowers with exceptional buying power in relation to their income. With a wide range of options available in the Chicago area at attractive prices, it’s a great time for people who’ve considered entering the housing market to dive in.
Even though the federal tax credit has expired, many resources are still available to help your clients buy a home. A number of benefit programs continue to offer assistance to first-time buyers. Among them is the State of Illinois HOME START Loan Program, which assists qualified state residents who need assistance with their down payment and closing costs.
Another option, for eligible Chicago city residents, is the city's Home Purchase Assistance Program, which also helps first-time homebuyers make down payment and closing costs.
Special neighborhood incentive programs are available with assistance for certain categories of buyers, like public school teachers, firefighters and police personnel in many communities.
If your clients are interested, encourgae them to research at the state, county and city levels for home buyer programs for which they may be eligible. It’s a great time to invest in a home and a family's future!