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CEFS Economic Opportunity Corporation

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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.

  • Income eligibility is based on upcoming 12 months annual gross income from all sources and must be less than or equal to 80% of the area median income.
  • Property to be purchased must be in the seven CEFS counties and must be occupied as a principal residence.
  • Applicants must attend each scheduled education and counseling workshop sponsored by CEFS.
  • Applicants must not have ownership interest in any real estate.
  • Applicants must supply CEFS with complete and accurate information required to complete the application.
  • Property must be purchased through a fee simple title.
  • Applicants must have satisfactory credit or financial standing.
  • Homebuyer must provide $1,000 toward the purchase price of the home as a down payment.
  • Property value and rehabilitation work must not exceed 95% of the median sales price for the area as reflected by HUD's Purchase Price/Value Limits (for 2008 this limit was $200,160)
Contact your local CEFS Outreach Office for further information or to make application.