B.C.M.W. Community Services
serving Bond, Clinton, Marion and Washington counties
Homebuyer Program
The Homebuyer Program provides assistance with down payments and closing costs for the purchase of a new home. It also provides funds to rehabilitate the property to bring the dwelling up to Section 8 Housing Quality Standards. The actual mortgage for the home is financed through a financial institution.
The assistance for the down payment, closing costs and rehabilitation is in the form of a zero-interest, forgivable loan. Homebuyer applicants will be provided a mandatory workshop on the home selection, mortgage application, closing process, maintenance, budgets, and other related subjects.
Applicants must be at or below the 80% area median income level, complete a Homebuyers Workshop, have satisfactory credit and provide a mandatory $1,000 down payment.
Illinois Housing Development Authority is the program administrator and B.C.M.W. Community Services implements the program in Bond, Clinton, Jefferson, Marion and Washington countites.
