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Honoring veterans through mortgage assistance

 
 

IllinoisHomebuyer program(s): In addition to the SmartMove Trio program, which offers first-time buyers “an affordable” 30-year fixed-rate mortgage, up to $6,000 for down payment and closing cost assistance, and a federal tax credit, Illinois’s Welcome Home Heroes program offers veterans up to $10,000 in down payment and closing cost assistance, a 30-year fixed-rate mortgage (including FHA, Conventional, VA, and USDA) with a “competitive” interest rate, and a federal tax credit which can reduce the federal tax liability by up to $18,000 over the life of the loan.

Veteran population: 764,203

Notable military bases in state: Scott AFB, Rock Island Arsenal (Army base), Great Lakes Training Center (Navy)

Average home price: $130,710

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