Up to $6,000 available in Downpayment Assistance!
Do you feel that you’re ready to move into a larger home? Tired of paying your landlord’s mortgage? There are many reasons why people decide it could be time to buy a home.
Illinois Educators Credit Union’s top 3 reasons to buy a home include:
1. Financial Advantages – A home is an asset that should appreciate over time, providing wealth-building opportunities.
2. Pride of Ownership – As a homeowner, you control the environment in which you live.
3. Roots –There is a natural desire to be part of a community: to have a local coffee shop, dry cleaners, bar, park.
When buying a new home, coming up with cash for the down payment and closing costs is one of the biggest hurdles. Luckily, there are grants and loans available to help home shoppers become homeowners.
Through the Downpayment Plus® Program*, up to $6,000 may be available to eligible home buyers to use toward down payment and closing costs. Ask one of our loan officers today
about the Downpayment Plus Program to see if you are eligible.
Home buyers must meet income eligibility requirements and:
- Contribute at least $1,000 to the purchase of the home
- Complete pre-purchase home buyer education and counseling
- Live in the home as your primary residence
IECU is committed to helping our neighbors. We can help lower your borrowing costs if you qualify for the Downpayment Plus Program.
* Downpayment Plus is a program from the Federal Home Loan Bank of Chicago. Restrictions apply. Please see the Federal Home Loan Bank of Chicago’s website at www.fhlbc.com for complete requirements. “Downpayment Plus” is a registered trademark of the Federal Home Loan Bank of Chicago.
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