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IL boosts program to help vets buy houses

Mon, 12 Nov 2012 17:25:25 CST
By: AP / Charlie Schlenker

State officials have beefed up a program that helps members of the military in Illinois buy their first home. Gov. Pat Quinn quoted Abraham Lincoln as he announced an additional $5 million for the program.

The money comes from a capital fund and is estimated to help 500 families buy homes. Those who qualify for the ``Welcome Home Heroes'' program get a $10,000 forgiveable loan, low interest rate on a 30-year mortgage and help with closing costs. Army Sgt. 1st Class Eric Sereda (suhr-EE'-dah) and his wife, Sharon, were able to purchase a three-bedroom home in the Chicago suburb of Westchester. The newlyweds say the program let them have extra money for their wedding and to start their new life together.

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