The Homebuyer Program was created under Title II (the Home Investment Partnership Act) of the National Affordable Housing Act of 1990. The Illinois Housing Development Authority (IHDA) is the program administrator for the State of Illinois. CEFS Economic Opportunity Corporation is a sponsor for various HOME Program activities in Clay, Effingham, Fayette, Shelby, Moultrie, Montgomery, and Christian counties, and has been selected to implement the Homebuyer Program in our seven county area.
The Homebuyer Program provides assistance with down payments and closing costs. It may also provide funds for rehabilitation of the property in order to bring the dwelling up to Section 8 Housing Quality Standards. This assistance will be in the form of zero-interest, forgiveable loans. Homebuyer applicants will be provided workshops and one-on-one counseling. Topics will include selecting a home, the buying process and loan closing, hiring contractors, home maintenance, budgeting, and other related subjects.