CHICAGO: HOW & WHERE TO GET FIRST TIME BUYER GRANTS...
I have to say, number 1 is having a great Realtor that is knowledgeable is the first step to finding out any information in that particular housing market. As a Realtor my job is to research and find out all I can to help my clients buy a home they love but also can afford.
Grants are available in certain municipal areas. And as you well know, HUD and FHA information changes so quickly it's almost too overwhelming ! Everyone has a different answer and sometimes you don't know how to phrase the question to get the right answer.
There is a lot of hear-say out there and not a lot of facts. It always takes time for the market and government programs to catch up to each other and finally trickle down to the consumer.
#1) RESEARCH. I start at the municipal level and I know exactly who to talk to for answers. Phone calls are useless unless you get to the right person right off the bat, but typically you get no answer or are transferred umteen times.
#2) TRY THE TOWN WEBSITE. Start at the local level of interst, If you are looking to buy in a visibly depressed town, call the village. The Town of Cicero is one example HUD's Neighborhood Stabilzation Program http://www.thetownofcicero.com
#3) TRY THE COUNTY WEBSITE: The county website has more information on areas that are funded by the different government grants.
HUD has all the information you need to get the answers. Here is the link to the different programs and grants available: http://www.hud.gov/offices/cpd/communitydevelopment/programs/neighborhoodspg
Start here: Click to look on the HUD website that will take you to a map of the United States, click on the state to get Illinois grant information and counties involved.
LIST OF GRANT MONIES THE STATE OF ILLINOIS IS ALLOCATED FOR HOUSING STABILIZATION:
| State | Community | NSP Allocation | Local Foreclosure Rate | Local Abandonment Risk | Statewide Foreclosure Rate | Statewide Abandonment Risk |
| IL | ILLINOIS STATE PROGRAM | $53,113,044 | 4.3% | Medium | 5.1% | High |
| IL | AURORA | $3,083,568 | 6.1% | Medium | 5.1% | High |
| IL | CHICAGO | $55,238,017 | 6.4% | High | 5.1% | High |
| IL | CICERO | $2,078,351 | 8.6% | High | 5.1% | High |
| IL | COOK COUNTY | $28,156,321 | 5.9% | Medium | 5.1% | High |
| IL | DU PAGE COUNTY | $5,176,438 | 3.7% | Low | 5.1% | High |
| IL | ELGIN | $2,159,623 | 6.2% | Medium | 5.1% | High |
| IL | JOLIET | $3,531,810 | 7.2% | High | 5.1% | High |
| IL | KANE COUNTY | $2,576,369 | 3.9% | Low | 5.1% | High |
| IL | LAKE COUNTY | $4,600,800 | 3.5% | Low | 5.1% | High |
| IL | MCHENRY COUNTY | $3,085,695 | 4.0% | Medium | 5.1% | High |
| IL | ROCKFORD | $2,287,004 | 7.2% | High | 5.1% | High |
| IL | ST CLAIR COUNTY | $2,262,015 | 5.1% | Medium | 5.1% | High |
| IL | WILL COUNTY | $5,160,424 | 5.0% | Low | 5.1% | High |
If you need home buying representation and someone on your side to help purchase your rehab, getting grant money, funding or lender referrals, call me today to discuss your options (708)369-8094.
This valuable information provided by Christine Moscinski, Broker Associate at GOBBER GMAC Real Estate and market expert in Chicago's Western Suburbs.
Call her today to find your next home or investment property at 708/369-8094 - you'll be glad you did !
http://www.ehousehuntonline.com