Rural Development’s direct home loan program remains the best financing option for low income home buyers in rural Illinois. Direct loans for homes in communities with up to 20,000 residents do not require a down payment or monthly mortgage insurance. These loans also offer subsidized interest rates for up to a 38 year term. Call for a list of homes and Lenders.

 NEW LISTINGS;

Rare opportunity here ! Side by side properties, perfect for families or friends who enjoy wildlife, morels, wild berries, woods , 4 wheelers and land.Both homes sit on 10 wooded acres EACH.

CLICK ON EITHER ADDRESS BELOW FOR PHOTOS, INFO AND VISUAL TOURS.

3498 N Farwell Bridge Rd, Rock City IL

3456 N Farwell Bridge Rd, Rock City IL

Six tips for negotiating the best price on a home.

Illinois Hardest Hit Program; 

The U.S. Department of Treasury designated the Illinois Housing Development Authority as the administrator of the Hardest Hit Fund Program for the State of Illinois. Approximately $445.6 million in program funds have been allocated to develop and implement innovative housing initiatives to help prevent foreclosures and stabilize housing markets.

The Illinois Hardest Hit Program offers mortgage payment assistance to borrowers who have experienced an unemployment or underemployment event due to no fault of their own.  The program aims to reduce the number of foreclosures caused specifically by a substantial loss of income. The assistance allows eligible households to maintain their home while they work to regain employment and financial stability.  Illinois Hardest Hit Program offers two types of assistance. For more info, click IDHA flyer.

Thinking of renting ? Consider the long term benefits of buying vs renting first:

Compliments of the KCM Blog

The PRICE is the same but the COST is less :

There is more and more research coming out showing that it makes great financial sense to purchase a home today . Whether it be rent vs. buy ratios, income-to-price ratios or income-to-mortgage payment ratios, purchasing a home right now is a bargain compared to historic norms. Now we want to look at the COST of a home today compared to pre-peak prices.

According to the most recent S&P Case Shiller price index, residential real estate values have returned to 2003 1Q PRICEs. That, in itself, says something. However, when you factor in mortgage rates, the case for buying a home today becomes even more compelling.

In 2003, 30 year mortgage rates stood at 5.88%. Today, they are 4%. How does that impact the actual COST of a home? On a home purchased for $250,000, here is the difference in monthly cost:

 That means you save $285.30 a month, $3,423.60 a year and $102,708 over the life of a 30 year mortgage! You buy the home for the same PRICE but the COST is over $100,000 less.

Bottom Line

This is why so many financial advisors are saying that this may be one of the greatest times in history to purchase a home.