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Military, vets get home-buying help under state program

Military, vets get home-buying help under state program
Illinois Governor Pat Quinn spots 4-month-old Wyatt Zimerman with his mom Specialist Kristi Goodin and dad Specialist Zachary Zimerman at the Illinois National Guard facility in Chicago Wednesday. (Phil Velasquez/Chicago Tribune)

Gov.

Pat Quinn

today announced a program aimed at helping veterans and active duty military members purchase homes by providing $10,000 grants for down payment and closing costs.

Qualified applicants also will be able to lock in low-interest loans at 4 percent for a 30-year mortgage and receive an additional tax credit of up to $20,000 over that same time period.

The money comes from a combination of state and federal sources and is first-come, first-serve. It’s estimated that 1,000 veterans and service members will qualify for the program, dubbed Welcome Home Heroes.

“I don’t think there’s a better holiday present, Christmas present, that we can give our veterans than to help them get a home and be a homeowner,” Quinn said at the National Guard Armory on the city’s

Near South Side

.

Applicants must meet certain income and purchase price requirements depending on which area of the state they live. More information can be found at ihda.org.

Twitter @moniquegarcia

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