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In 1996, the Illinois Association of REALTORS? organized the Partnership for HomeOwnership, Inc. to help assist low-income rural Illinois residents achieve the dream of homeownership. The Partnership has administered several multi-million dollar mortgage programs (in excess of $130 million), provided pre-purchase homebuyer counseling to over 1,500 Illinois residents, and is a HUD approved housing counseling agency. The Partnership has completed phase 1 of the Quincy Project, which targeted very low-income urban residents of Quincy, Illinois. The Partnership also consults with cities and municipalities to assist with the development and funding of mortgage programs tailored to the needs of the community. The Partnership recently oversaw the re-development of the www.credit-power.org high school educational Web site at that is available both in English and in Spanish.
Partnership has moved it's headquarters! We are currently located at:
522 South Fifth Street
Springfield, Illinois 62701
IAR HomePower Mortgage Program's interest rate is currently 6.40% (This applies to NEW reservations only).
IHDA's interest rates for the Rural Guarantee Housing Initiative are 6.775% with $1,500 in closing cost assistance; 6.65% with $1,000 in closing cost assistance or 6.40% with no closing cost assistance. (This applies to NEW reservations only.)
LIHEAP (Low Income Home Energy Assistance Program) administered by CEDA for the state of Illinois will be taking applications for utility bill assistance from July 31 through August 18 on a first come-first serve basis. Funds will be available to seniors, people with disabilities, families with small children, and those with medical problems. Any one wishing to apply should call 800-252-8643 and press 0 for a representative or contact a local community action agency.