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News Thursday February 13th, 2014, 3:58pm

Program To Help Vets, Servicemembers Buy Homes Gets $5 Million Boost

A state program to assist veterans and servicemembers in home buying is getting a $5 million boost. The additional funds to the Welcome Home Heroes program will come from state capital funds, according to Gov. Pat Quinn. The governor says an additional 500 families will be assisted by the cash infusion.

“We have a duty of permanent gratitude to make sure our men and women in uniform, when they come home, they come back to civilian life, we take good care of their education, their health care, their opportunity to get a job and also an opportunity to buy a home,” Quinn said Wednesday, according to the State Journal-Register.

The program assists first-time homebuyers that are veterans or active servicemembers, giving them up to $10,000 towards a down payment. The Welcome Home Heroes program also provides vets and those on active duty with a mortgage tax credit of up to $20,000 for the life of the loan and a 30-year mortgage at an affordable rate.

Sources

  • State Journal-Register

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Tags

  • budget
  • Capital Funds
  • Home Ownership
  • Illinois
  • Illinois budget
  • Military
  • State budget
  • State funding
  • Veterans

Public figures

  • Pat Quinn

Level of gov't

  • State of Illinois

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