Grant Now Available To Area Home Buyers!
Heartland Bank and Trust Company is participating in a statewide affordable housing program known as the Downpayment Plus® Program . This program assists low and moderate income homebuyers in Illinois with down payment and closing costs. As a Downpayment Plus® participating institution, Heartland Bank is excited about its potential and looks forward to expanding home owners hip opportunities in our market area. Qualified households are eligible to receive up to $6,000 in assistance for the purchase of owner-occupied single family homes!
The funds are provided as a five year forgivable grant. This means the funds do not have to be repaid if the owner remains in the home for five years. However, if the home is sold before the five year term ends, the owner is required to repay a prorated share of the grant.
Funds for the program are limited and will be awarded on first come-first served basis until all funds are depleted. The Downpayment Plus® Program uses funds set aside from Chicago Federal Home Loan Bank earnings. Participating banks apply for the grant on behalf of its borrowers. Borrowers cannot apply directly. Prospective borrowers should contact Heartland Bank Mortgage Specialists for more information or to apply. To locate an office near you, call 888-897-2276.