Chicago Area Housing Website - Assistance Program Types


Program Type:	Employer Assisted Housing

Intended for:	Employees of companies or organizations that provide assistance for housing

Description:	Employer Assisted Housing is an employer provided benefit with the intention of assisting employees become homeowners. EAH programs can include grants for down payment assistance, low interest loans, matched dollar savings plans, credit counseling, homebuyer education, and much more.

For more information:
http://www.metroplanning.org/ourwork/articleDetail.asp?pageID=3&objectID=1041&categoryID=2
http://www.efanniemae.com/hcd/single_family/init_partner/eah.html
http://www.fanniemae.com/housingcommdev/solutions/eah.jhtml?p=Affordable+Housing+%26+Commu

Programs of this type:
Chicago Police Officer Homeownership Incentive
Chicago Police Officers are eligible for a maximum of $5,000 in assistance in purchasing a home. The purpose of this program is to encourage police officers to purchase homes in low-income neighborhoods and to enhance neighborhood revitalization efforts. The deferred loan is available for a maximum of $5,000 per household. The loan may be used for the following eligible mortgage expenses: title insurance; credit reports; recording fees; appraisals; points; transfer stamps; third-party property inspection fees; first year's payment of mortgage insurance; and other customary bank related closing charges. This loan will be forgiven if the officer lives...
see url (below) for program requirements

Regional Employer-Assisted Collaboration for Housing (REACH)
Employer-assisted housing programs are a great way to help workers find and finance housing closer to work. By working with the Regional Employer-Assisted Collaboration for Housing (REACH), a network of nonprofit housing experts around the six-county region, a company does not have to administer its program in-house. REACH Partners work directly with homebuyers, providing credit counseling and other assistance through the home buying process, to save the employer the administrative costs.
call the Metropolitain Planning Council 6

HODC- Employer Assisted Housing
Housing Opportunity Development Corporation partners with local employers to develop an employer-assisted housing program that promotes affordable housing options near jobs and helps employers retain workers. Services in northeastern Cook and southeastern Lake counties.
See URL for details