Did you know Chicago has several different incentive programs and grants that help today’s buyers save thousands on home purchases? In some cases participants have seen as much as $60,000 – $80,000 in savings on their new condo, townhome or house. The city program called “Find Your Place in Chicago” is making homes more affordable through free upgrades, tax credits, down payment grants, money for closing costs and other special discounts on new and rehabbed residences in 22 different Chicago neighborhoods.
Find Your Place in Chicago is a partnership between the city and several residential developers. They are working together to provide great deals on quality homes in mixed-income neighborhoods throughout Chicago, including Beverly, Logan Square, Humboldt Park, Lawndale, South Shore, Oakland, Kenwood and Avondale. Supply is limited to around 200 properties in designated developments with listing prices ranging from $150,000 to $450,000.
Eligibility for program incentives is largely based on income. It is designed to give lower-income families more aid than higher-income households – but many of the lender and developer perks and tax breaks are widely available to buyers.
Contact your Dream Town consultant to learn more about money-saving opportunities coming your way in 2009!