$10,000 Down Payment Assistance Available at March 23rd Homebuyer Expo

The State of Illinois Homebuyer Expo will take place from 9 a.m. to 4 p.m. Saturday, March 23, at the Illinois Institute of Technology, 3241 S. Federal St. Chicago. Hosted by the Illinois Housing Development Authority (IHDA), the state’s housing finance agency, the event will offer a variety of loan programs that combine affordable mortgages with up to $10,000 cash for down payment and closing costs.

SmartMove Trio is IHDA’s latest offering and is one of the best packages eve offered in the agency’s history. Available for a limited time, SmartMove Trio offers first-time homebuyers that meet certain requirements an affordable 30-year fixed rate mortgage, up to $6,000 cash for down payment and closing costs, and a federal income tax credit worth up to $18,000 over the life of the loan.

Interested buyers can apply for IHDA’s mortgage programs, including SmartMove Trio, at the homebuyer expo. Lenders and housing counselors will be on hand to advise homebuyers of the best loan for them. Registration at www.ihda.org is required.

January 2013 home sales in Illinois were up 31 percent over last year, according to the Illinois Association of Realtors. When people buy homes, Illinois’ economic recovery advances. For example, the sale of 500 homes supports 250 full-time jobs and generates almost $20 million in economic activity.

“Governor Quinn has demonstrated strong leadership in sustaining homeownership in Illinois,” IHDA Executive Director Mary R. Kenney said. “Under his administration, IHDA has focused on foreclosure prevention to keep people in their homes, rehabilitating vacant properties to create valuable homebuyer opportunities, and is now increasing opportunities for homeownership.”

For those who have been considering buying a home, now is the perfect time to take action. Register for the Expo today at www.ihda.org.

About the Illinois Housing Development Authority

IHDA is a self-supporting state agency that finances the creation and the preservation of affordable housing across Illinois. Since its creation in 1967, IHDA has allocated more than $11.6 billion and financed approximately 225,000 affordable units across the state.