For the last 13 years, the Village of Romeoville, joining with 75 other municipalities and counties, have participated in the Assist First Time Home Buyers Program, which helps first time homebuyers who have a low to moderate income. The program provides them with a below-market, fixed-rate mortgage and a cash gift (4.25% of the loan amount) which is used to offset closing costs and as part of the down payment.
“Owning a home is a milestone in life,” said Mayor John Noak. “We’re thrilled that we as a community have been able to help people achieve that goal. This program could be the difference between a family moving to Romeoville or choosing a different community to live in.”
The bonds are not a debt of the village or any of the participating communities. Last year, 20 Romeoville residents purchased homes through the program. For more information on the program or to sign up, go to romeoville.org and search “Homebuyer Assistance”.