The State of Illinois is launching two new homebuyer assistance programs.
The Illinois Housing Development Authority's Javier Gumucio says the first one is called "Smart Buy" and includes an affordable 30-year fixed rate mortgage and a payment of five thousand dollars for a down payment or closing costs that will be paid back later.
"The really neat part about the "Smart Buy" program is the student loan assistance, or debt relief, which will provide 15% of the purchase price up to $40,000 to pay off all those student loans."
The second program is "Opening Doors" and is aimed at low to moderate-income homebuyers. It also offers a 30-year mortgage and six thousand dollars for a down payment that is forgiven after five years.
Get all the details here.
