City Lift Chicago - Homebuyer Down Payment Assistance

By
Real Estate Agent with Keller Williams Inspire

Chicago area home buyers will want to mark October 26th and 27th on their calendars. These are the dates for the Chicago City Lift event which is sponsored by Wells Fargo in collaboration with local non-profit organzations. Home buyers will be able to find out whether they qualify for the $15,000 City Lift down payment assistance program as well as reserve their funds for 60 days. These funds are being provided as part of the fair lending settlement between the Department of Justice, Attorney General Madigan's office and Wells Fargo. The down payment assistance funds will be forgiven if the home buyer remains in the home for at least five years. You will not need to have a home already picked out and your are not required to use Wells Fargo as your lender.

http://www.richard-seaman.com/USA/Cities/Chicago/Landmarks/ChicagoSkyline1.jpg

In order to use the City Lift down payment assistance funds home buyers must purchase homes in specific towns. The towns that are eligible to use the down payment assistance funds for are as follows:

Bedford Park, Bellwood, Berwyn, Blue Island, Calumet City, Chicago, Chicago Heights, Cicero, Country Club Hills, Dolton, Glenwood, Harvey, Hazel Crest, Homewood, Lansing, Markham, Matteson, Maywood, Oak Lawn, Park Forest, Richton Park, Riverdale, South Holland, Clearing, Forest View, Stickney, Ford Heights, Lynwood, South Chicago Heights, and Sauk Village.

 

For additional information and documentation requirements for the City Lift event go to www.wellsfargo.com/citylift

If you need assistance getting preapproved prior to the event visit my site at www.mortgagebyroy.com and complete my online application or call me at 815-899-3848/630-670-1594.

This is truly a great opportunity for home buyers to get assistance with the purchase of their first home.

 

 

Comments (2)

Joan Valverde
HomeSmart - Colorado Springs, CO
GRI,CDPE,CNE,MRP,SRES Colo Sprgs, Blk Forest, Monu

Roy,  I had not heard about this before.  Is this some thing just Chicago is doing?  Who and of where are the funds coming from?  Are there requirements for the homeowner as far as how long they have to live in the house?  Best to you!

Oct 11, 2012 01:59 PM
Roy Paeth
Keller Williams Inspire - Geneva, IL
Just a regular guy helping real people!

Joan, if you visit the link there is list of cities the funds are available in. The money is part of the National Mortgage Settlement and if the borrower stays in the house for 5 years then the down payment assistance is forgiven.

Oct 11, 2012 10:49 PM