Make The City Of Chicago Pay Your Condo Closing CostsMarch 26th, 2007
You might be eligible for a little-known City of Chicago home buyer's program (the CitiMortgage Program) that will actually make the city government pay your closing costs.
Now, you'll need to check with a mortgage broker or your real estate agent to get the exact details...
However, this can be an awesome deal for you.
Imagine... Affordable downtown Chicago Condos.
This program gets you a competitive 30-year fixed-rate mortgage, AND...
4% of the mortgage amount ($12,000 cash in your pocket on a $300,000 home), to be used for your home or condominium down payment and closing costs.
You NEED to check out this program NOW! The funds available are limited ($100 million total, with only $10-15 million available at any given time), so youíve got to cash in before the money runs out.
Itís easy to qualify, too. If you...
- are a first-time home buyer (or if you buy in certain "target areas")
- can provide 3 years' tax returns and Verification of Rent from the last tax year up to your date of application for a CitiMortgage (if you're a first-time homebuyer)
- are not incredibly wealthy (you can make up to $105,560 a year), and
- the property youíre buying is within a certain price-range (up to $628,919 right now--price limits are adjusted periodically)...
Now, as we move into April, a lot of upheaval is going on in the Mortgage business so please check with a professional to get the latest details.
If you're at the financing stage of your condo search, shoot us an email and we'll get you the latest information.