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SPC. Kristy Goodin is looking to buy a new home and will have a little help with down payment.
As a member of the Illinois National Guard, Goodin as well as active and reserve military personnel in Illinois may qualify for a loan “forgiven” for $ 10,000 for a 30-year mortgage loans, fixed-rate of new financing program that is paid by the State. Springfield residents say a new option has been given an extra incentive for his new family to buy a House.
“We’re really thankful for it because we are a young family in our early 20s with a 4-month son,” Goodin said.
Governor Pat Quinn launched Welcome Home Heroes program, Illinois, on December 14 to give their Illinois men and women in service to help with down payment, closing costs and up to $ 21,000 in mortgage credit certificates. Mortgage credit certificate allows the buyer to use 20 percent of their annual mortgage interest rates as the federal tax credit which resulted in a decrease in direct dollar for dollar annual federal income tax obligations. The remaining 80 percent will qualify as a tax deduction which is detailed.