State, Federal Funds To Help Vets, Military Personnel Buy Homes

SPRINGFIELD, Ill. (CBS) — Gov. Pat Quinn says money from state and federal sources is now available to help veterans and active-duty military personnel purchase homes in Illinois.

As WBBM Newsradio’s Dave Marsett reports, the program, called Welcome Home Heroes, will provide grants of $10,000 for downpayment and closing costs, according to a news release.

LISTEN: WBBM Newsradio’s Dave Marsett reports

Applicants who qualify can also lock in low-interest loans at 4 percent for a 30-year mortgage, and receive a tax credit of $20,000 in addition, the the release said.

There are certain income and purchase price requirements. All participants must be qualified Illinois veterans or military personnel, and also must be first-time home buyers.

But the Chicago Tribune estimates that 1,000 vets will qualify for the program.

“Many National Guard, Reserve and active-duty Soldiers come back from deployment and face hard times,” Maj. Gen. William L. Enyart, the Adjutant General of the Illinois National Guard, said in the release. “Programs such as this homeownership initiative will go a long way toward helping these men and women achieve the American dream. They fought for it and they deserve it.”

For more information, click here.

  • Jim Hamilton

    Well I really hope they don’t mess up like I did and buy a home in Illinois now I’m stuck here can’t sell it because no one else wants to live in this Chicago ran cesspool

  • Wolf

    What funds…the federal and state and even local governments are broke…when will this irresponsible spending stop…we need massive downsizing and restructuring and reform of the fraudulent public sector multi-millionaire penesion scam…

  • Jim

    I say stop paying these incompetent politicians and give their pay to our soldiers. Soldiers do more in 1 day to help the people than politicians do their entire lifetime! Soldiers are willing to give up their lives for us while politicians just want to take your money and retire at 55 making $100k/year pensions…there is something seriously wrong with our country!

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