Chicago Bancorp and the City of Chicago Make The American Dream Come True for More Chicago Residents
Chicago Bancorp and the City of Chicago Make The American Dream Come True for More Chicago Residents
Chicago, IL (PRWEB) September 29, 2006
Chicago Bancorp and the City of Chicago expands its community lending initiative releasing $ 100 million in funds available for down payment assistance and mortgage credit certificates. Their mission is to make buying and owning a home in Chicago more affordable then ever before.
For many, The American Dream includes home ownership. There are many benefits to owning your home; financial security and tax savings just to mention a few. Chicago Bancorp’s community lending programs focus on assisting those in pursuit of this dream. In doing so, they have expanded their robust program offerings to include the City Mortgage and Tax Smart programs.
The City Mortgage Program offers qualified first-time homebuyers a gift of 4% to cover down payment and closing costs and 30-year, fixed-interest mortgages at competitive interest rates. When you find your dream home, this program will surely make it more affordable.
Tax Smart is a Mortgage Credit Certificate (MCC) program which entitles first-time home buyers to a federal income tax credit. A tax credit is a direct reduction of taxes due. Under the program, a home buyer would receive an MCC to reduce income taxes by an amount equal to 20% of the interest paid on a mortgage. The tax credit is available each year the home buyer continues to live in a home financed under this program.
“Our mission is to assist friends, family, neighbors, and our community in their pursuit of homeownership…and make it affordable for them at the same time” says Joe Hogan, Director of Specialized Lending. Chicago Bancorp truly is a different kind of mortgage bank focusing on the customer first by providing excellent service, mortgage banking expertise, and affordable solutions.
Partnering with the City of Chicago, Chicago Bancorp has become the place for consumers who seek affordable solutions, excellent service, and professional mortgage banker expertise. To make a reservation for one of these programs contact one of their Professional Mortgage Bankers at (312)855-5000 or logon today at http://www.chicagobancorp.com . Chicago Bancorp is an Illinois residential mortgage licensee.
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