Par for the Fed, Birdie for Buyers: Do Rates Hold ? Illinois Reopens the Doors on $9,000

It’s Fed Day, and the market is pricing in a 92% chance that the Fed keeps its benchmark rate unchanged. Tony Perri Jr. is flying solo to explain what a Fed hold does and does not mean for mortgage rates. Then, he breaks down the bigger news for Illinois homebuyers: Illinois Housing is bringing back its popular Opening Doors program. Here’s what buyers need to know: 🏡 $9,000 toward down payment and closing costs, regardless of the home’s purchase price 💰 A flat $9,000, not a percentage of the purchase price with a lower assistance cap 📉 No interest accrues on the assistance lien ⏳ The lien is forgiven over five years, compared with the 10- to 30-year terms of many current programs ✅ Available with conventional, FHA, VA, and USDA financing 🔑 No first-time homebuyer requirement 📍 Income limits vary by county and census tract The official launch date has not been announced. Like most Illinois Housing programs, Opening Doors will only be available while funding lasts. Getting pre-qualified and prepared before it opens could make all the difference. Want to know if you may qualify? Start at applywithjr.com. Tony Perri Jr. | Branch Manager Novus Home Mortgage | NMLS #52423 Division of Ixonia Bank #mortgage #mortgagetips #mortgagerates #homebuyers