Illinois has launched a new program to give Veterans incentives to become home owners. The Welcome Home Heroes program includes a forgivable $10,000 down payment, a 4 percent interest rate on a 30-year fixed mortgage, and a mortgage credit certificate of up to $20,000.
Illinois Veterans do not need to be first-time home purchasers to qualify for the program, although they must qualify for the mortgage loan.
“We are compensating and rewarding veterans for putting themselves in harm’s way, ultimately offering the ultimate sacrifice to protect our freedoms,” said State Sen. Bill Brady. “So it’s a way to pay them back for what they’ve given to us.”