City of Naperville Announces Two First-Time Home Buyer Programs

In an effort to support Naperville home purchases the City of Naperville is now participating in two home buyer incentive programs.

The Illinois Housing Development Authority (IHDA) has partnered with Naperville to qualify first time buyers with a dollar-for-dollar reduction in their annual federal income tax equal to 20% of the mortgage interest paid each year. Homebuyers are responsible to apply for the federal tax credit through an IHDA approved lender at the time of their purchase.

The second program is through the Assist Program, a first time home buyer down payment program that is coordinated by Stern Brothers & Co. in cooperation with participating communities. This program can assist the buyer with their down payment or closing costs.

For more information please go to the City of Naperville's home page at: http://www.naperville.il.us/.