State of Illinois launches assistance initiative to help first-time homebuyers

The Access Home program offers those who are eligible up to $15,000 for a down payment or closing cost assistance.
The State of Illinois is offering financial assistance to some first-time homebuyers through a new initiative. Photo credit gettyimages/gorodenkoff

The Access Home program offers those who are eligible up to $15,000 for a down payment or closing cost assistance.

The program is designed to help more working families buy homes amid rising housing costs.  In Cook County, Access Home is available for first-time homebuyers who earn up to $137,885--pending their household size.

The assistance is provided as a zero-percent second mortgage and repayment can be deferred up to 30 years unless the house is sold or refinanced.

More information can be found online at ihdamortgage.org.

Featured Image Photo Credit: gettyimages/gorodenkoff