HOPE Fair Housing Center-Sponsored Homeownership Grants
Loans for Small Building Owner-Occupants
Through a contract with Austin Ascending, a new program of the Oak Park Regional Housing Center, HOPE is providing no-interest forgivable loans of up to $4,000 per unit for homeowners of 2-4 unit buildings for rehab costs, training on tenant selection and the rights and responsibilities of being a landlord, mentoring from experienced landlords, and membership in Greater Austin Development Association to network with other Austin property owners. Find out how property ownership can work for you!
Local contractors are also needed. If you are or know a local contractor who is interested in joining the program, or are an Austin resident who currently owns or is planning to purchase a 2-4 unit building, reach out to Austin Ascending by visiting http://www.oprhc.org/austinascending/ for grant or contractor applications, or call Jessica Hartshorn at 708-848-7150 x114.
Down Payment/Closing Cost Assistance for First-Time Home Buyers
HOPE has contracted with Neighborhood Housing Services of Chicago (NHS) to offer homeownership education, down payment and closing cost assistance to first-time homebuyers who wish to purchase a 1-4 unit property in Austin for owner-occupancy. NHS can also offer purchase/rehab loans and layer the down payment/closing cost assistance. This program can also be combined with funds from Austin Ascending.
Visit www.nhschicago.org or contact Robin Coffey at 773-329-4134 to get started.
Elgin Neighbors – Employer Assisted Housing
HOPE is teaming up with employers in Elgin to offer an innovative program providing no-interest, forgivable loans between $7,500 and $15,000 for people living or working in Elgin to purchase and rehab a home in Elgin.
You do not have to be a first-time homeowner, or fall within certain income limits to qualify. The property must be your primary residence and be in Elgin. The amount of the loan will vary with location and rehab needs, with higher loan amounts available when purchasing a targeted property or in a targeted neighborhood.
If your employer does not currently participate in the program, you are still potentially eligible for funds. Employees of non-profits and governments are also eligible. If your employment is in a community surrounding Elgin, you may also be eligible if you are purchasing a property in Elgin. Investment properties are not eligible.
Click here to view additional information on becoming an Elgin Neighbors partner, or contact Todd Fuller at firstname.lastname@example.org or 630-690-6500, ext. 115.