Gov. Pat Quinn launched the program, Welcome Home Heroes Illinois, on Dec. 14 to provide those Illinois men and women in the service with some help with the down payment, closing costs and up to $21,000 in a mortgage credit certificate. A mortgage credit certificate allows the buyer to use 20 percent of the their annual mortgage interest as a direct federal tax credit that results in a dollar-for-dollar reduction in their annual federal income tax liability. For more information, visit the Illinois Housing Development Authority website.
For more on home loan benefits for servicemembers and veterans, visit the Military.com VA Home Loan Center.
