The state is relaunching the “opening doors” homebuyer program. Opening doors is designed for lower-income borrowers and households of color, offering a 30-year mortgage with a fixed interest rate and a six thousand dollar down payment. Many won’t have to pay that back says Illinois Housing Development Authority Spokesperson Andrew Field.
“If you do apply and are accepted through this program and stay in the house for five years, that $6,000 does not have to be repaid to the state. Certain communities in Illinois have increased barriers to homeownership. What we are trying to do under the Governor’s direction is to try and break down these barriers and create new opportunities for everyone in the state.”
Those interested can find more information about the program and participating lenders online at: ihda mortgage dot org.
***Courtesy of the Illinois Department of Central Management Services***
