Written by Delgado Staff Monday, 27 July 2009 07:46
SPRINGFIELD, IL—Illinois State Senator William Delgado (D-Chicago) wants to let his constituents know there are new loans available to help first-time homebuyers with their down payment.
“With the falling housing market, it is a good time for first time homebuyers to take advantage of lower home prices,” said Delgado. “We need to do everything we can to help people become homeowners.”
First-time homebuyers in Illinois are now able to take advantage of the Illinois Home Start Loan Program which allows hundreds of residents to achieve the dream of homeownership through a new 30-year fixed rate loan, and an advance loan on the federal tax credit created by the American Recovery and Reinvestment Act of 2009.
This program will offer a 30-year fixed rate loan insured by the Federal Housing Administration for first-time homebuyers, and gives them the option to use a second loan for down payment assistance. People can then use their Federal tax credit to repay the loan.
Homebuyers interested in applying for the Home Start Loan Program should contact an IHDA partner lender or visit www.ihda.org.
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Senator Delgado Menu
2nd District
Years served: 1999 - 2006 (House); 2006 - Present (Senate)
Committee assignments: Human Services; Appropriations I; Public Health (Chairperson); Consumer Protection (Vice-Chairperson); Executive Appointments; Committee of the Whole; Joint Comm. on Government Reform; Subcommittee on Amendments.
Biography: Full-time state legislator; born in Newark, NJ.; B.A. in Criminal Justice from Northeastern University; Leadership Chairman of the 2nd Legislative District's Volunteer Political Organization; married (wife, Iris), has two children.
