The state is relaunching the “Opening Doors” homebuyer program.
The program sets up eligible homebuyers with a 30-year, fixed interest rate mortgage and a $6,000 down payment. That down payment doesn’t have to be paid back if the purchaser stays in the home for at least five years. Illinois Housing Development Authority spokesperson Andrew Field says it’s aimed at low-income and minority borrowers.
“Certain communities in Illinois, especially LatinX and black communities have had increased barriers to home ownership. So what we are trying to do with the Governor’s directive is to break down these barriers and create new opportunities for everyone in the state.”
This latest round of assistance is expected to help more than 1,600 homebuyers. More information is available online at: ihdamortgage.org.
