Saving for a down payment is a crucial first step for your clients to afford their dream home. For many people, however, this is still not within their grasp — that is, until now. You can help your clients find their dream home thanks to a new down payment assistance program created to help first-time buyers looking to purchase a home within the Chicago city limits. This program provides up to 7% of the loan as a grant, so all your homebuyer needs to contribute is 1% of the home price or $1,000.
The program is open to families or individuals who are first-time buyers interested in a single-family, townhome, condominium or multi-unit property. It is also available to clients looking to refinance a mortgage. This program is available through Key Mortgage Services, who has partnered with the City of Chicago and Chicago Infrastructure Trust to help buyers realize their dream of homeownership.
Contact your Key Mortgage Services loan officer today to learn more about this exciting opportunity.