First time homebuyers get help from the state

By WEEK Producer

First time homebuyers get help from the state

April 1, 2014 Updated Apr 1, 2014 at 8:56 PM CDT

SPRINGFIELD, Ill -- First-time homebuyers are getting some added help from the state.

Governor Quinn announced a new program today that helps homebuyers get $7,500 in down payment help on a 30-year-fixed-rate mortgage.

A Illinois Housing Development Authority spokeswoman says
"Welcome Home Illinois" offers better interest rates and more down payment help than what was available.

The money comes from state capital funds set aside for affordable housing.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.