Village Housing Programs

Housing Programs

Single-Family Rehab Program  |  First-Time Homebuyer Program  |  Illinois Home Start Program  |  Mortgage Credit Certificate Program  | Multi-Family Housing  |   Federal Housing Programs


HOME ENERGY PROGRAM
For a limited time, the Village of Arlington Heights is offering eligbile homeowners a unique opportunity to learn about their home energy usage and steps they may wish to take in order to make their homes more energy efficient.

Applications are processed on a first-come, first-served basis.  This program is being provided by the Village with funding from the Department of Energy's Energy Efficiency and Conservation Block Grant (EECBG ) Program.

The Home Energy Program is composed of two parts:

               HOME ENERGY AUDIT MATCHING GRANT
Benefit:
The Village will provide grants to homeowners for 50% of the cost of home energy audits.

Eligibility Requirements:

• The home must be located within the corporate limits of the Village of Arlington Heights
• The home must have been constructed prior to 1980
• The home must be the principal residence of the homeowner
• The application must have owned the home for a minimum of 2 years

Grant Terms:

• The total cost of the home energy audit is $500 for a home up to 3,000 square feet and an additional $100 for up to each additional 1,000 square feet
• The VIllage will provide a limited number of grants for 50% of the total cost of the audit, or typically $250
• The homeowner's 50% share is paid by the homeowner to the energy auditor at the time the home energy audit is conducted
• Some low and moderate income homeowners (guidelines shown below) may be eligible for 100% grants for the cost of the home energy audit

                           Low and Moderate Income Guidelines

            Household Size                       Maximum Annual Household Income
                     1                                                             $42,100
                     2                                                             $48,100
                     3                                                             $54,100
                     4                                                             $60,100
                     5                                                             $64,950
                     6                                                             $69,750
                     7                                                             $74,550
                     8                                                             $79,350


                HOME ENERGY REHABILITATION MATCHING GRANTS
Benefit:
The Village will provide financing for a portion of the cost of eligible home energy improvements.

Eligibility Requirements:

• A home energy audit of the home must have been conducted under the Village's Home Energy Audit Matching Grant Program
• Eligible home improvements are those recommended in the home energy audit and approved by the Village
• Improvements must be made within 120 days of the date of the home energy audit
• Competitive bidding of the rehabilitation work is required
• Projects involving homes that are 50 years old and older may require approval by the Illinois Historic Preservation Agency
• Home appliances are not eligible
• Improvements made prior to the approval of the homeowner's loan by the Village are not eligible

Loan Terms:

• Village loans are made to finance up to 50% of the cost of the improvements up to a maximum of $3,000 per home
• Village loans are at 0% interest and are deferred until the home is sold
• The maximum loan to value ratio of the loans secured by the home, including the Home Energy Program loan, may not exceed 85% of the home's value

Visit our Document Center to access application forms.  For further information, email or call the Department of Planning & Community Development Department at 847-368-5200.

SINGLE-FAMILY REHABILITATION LOAN PROGRAM
0% interest home rehabilitation loans for low- and moderate-income homeowners.

Applicant Eligibility
An applicant’s adjusted gross annual household income must be at or below 80% of the area median income, adjusted of household size. Incomes of all household members who are 18 years of age and older will be taken into account when determining the household income. The home must be within the corporate limits of the Village of Arlington Heights. The homeowner must have owned and lived in the home for at least 2 years prior to participation in the program. 

Eligible Repairs
Financing is provided for basic repairs and maintenance such as roof replacement, plumbing, electric, etc. Modifications to make homes safer and more accessible for senior and disabled residents are also eligible.

Terms of Financing
Loans are at 0% interest and there are no monthly payments. Eligible low-income homeowners may qualify for loans for 100% of the cost of construction. Moderate-income homeowners may qualify for loans for 70% of the cost of construction. A $100 Village administrative fee is charged for each loan and is included in the loan amount. Loans are repaid when the owner ceases to be the full-time owner-occupant of the home. Most commonly, this is when the home is eventually sold. The maximum loan amount is $25,000. The Village loan, combined with other loans secured by the property, may not exceed 85% of the appraised value of the property. Each loan is secured by an Estoppel Agreement (similar to a second mortgage) that is recorded against the title of the property. 

Income Guidelines - 2010

Household Size	Low-Income at or below:	Moderate-Income at or below:
1	$26,300	$42,100
2	$30,050	$48,100
3	$33,800	$54,100
4	$37,550	$60,100
5	$40,600	$64,950
6	$43,600	$69,750
7	$46,600	$74,550
8	$49,600	$79,350

FIRST TIME HOME BUYER PROGRAM
From 1996 - 2009, through funding provided by the State of Illinois' Housing Development Authority, the Village of Arlington Heights provided down payment and closing cost assistance loans to low and moderate-income households enabling them to purchase their first homes in Arlington Heights.  Throughout the life of this program, the Village assisted 69 homebuyers.  This amounted to providing a total of over $900,000 in down payment and closing cost assistance funds toward the purchase of homes valued at a total of over $7,000,000.


ILLINOIS HOME START PROGRAM
FIrst time homebuyers may now utilize the Home Start Program provided by the State of Illinois through the Illinois Housing Development Authority.  The Illinois Home Start Program is designed to help first time home buyers achieve the dream of home ownership affordably.  The Program offers an affordable Home Start 30-year fixed rate loan and an optional Home Start Down Payment Assistance Loan.  The Home Start Down Payment Assistance Loan allows Illinois first time homebuyers to access additional funds upfront to help with the down payment.  The Down Payment Assistance Loan is a 10-year, 0% interest, non-amortizing, forgivable loan in the amount of 3% of the purchase price up to $6,000.  For more information go to The Illinois HOME START Program brochure, and for income and purchase price limits and to locate a particpating lender, go to www.ihda.org.

ASSIST PROGRAM
Temporarily suspended due to lack of funds.

Income Guidelines - 2009

• 1 – 2 person household: maximum income $71,600
• 3 or more person household: maximum income $82,340

To apply for this program, contact one of the programs participating lenders. A list of participating lenders may be obtained by e-mailing or calling the Department of Planning & Community Development at (847) 368-5200.  

 

MORTGAGE CREDIT CERTIFICATE PROGRAM
The Mortgage Credit Certificate program allows first-time homebuyers to take advantage of a special federal income tax credit. This program allows eligible homebuyers to reduce their federal tax liability by an amount tied to how much they pay in annual mortgage interest. For a homeowner with a MCC, this benefit is: 20% of your annual mortgage interest will be a direct federal tax credit, resulting in a dollar-for-dollar reduction of your annual federal income tax liability. The remaining 80% of your annual mortgage interest will continue to qualify as an itemized tax liability. The MCC remains in effect for the life of your mortgage loan, so long as the home remains your principal residence. MMCs are available only in certain communities, including the Village of Arlington Heights and there is a limit on the number/amount of MMCs available.

Income and Purchase Price Limits for the MCC Program

	Household of 1 or 2	Household of 3 or More
Cook County Income Llimits	$74,900	$86,135
	New Construction 1 Unit	Existing Construction 1 Unit                  2 Units
Purchase Price Limits	$349,020	$349,020             $446,800

How do I apply for the MCC Program?

To apply, contact an Illinois Housing Development Authority (IHDA) I-Loan Certificate (MCC) Lender. 

• A complete list of participating lenders is available on the IHDA website at www.ihda.org. 
• A complete list of participating lenders in Cook County is also available upon request from the Village of Arlington Heights, Department of Planning & Community Development, 33 S. Arlington Heights Rd., Arlington Heights, IL 60005, (847) 368-5200.

MULTI-FAMILY HOUSING
For-Sale Multi-Family Policy and Developer Toolkit
As stated in the Village's Comprehensive Plan, "The quality of life in Arlington Heights is the community's greatest asset and it is reinforced by the quality of the housing and character of the Village's neighborhoods."

It is the goal of the Village of Arlington Heights to maintain a vibrant community and support its economic base by offering residents a variety of housing types that provdie desirable housing for single individuals, families, elderly persons, and members of our community who have special housing needs.  A diversity of housing options, that includes affordable homes, enables young adults who grew up in Arlington Heights to return to their hometown to live and to raise their own families.  A variety of housing options gives "empty-nesters" and senior citizens the ability to downsize without leaving the community.  Affordable housing opportunities also enable entry level and lower wage workers to locate near their places of employment in and around Arlington Heights.  Workforce housing supports the local enconomy by providing an available workforce.

Developers of new and substantially altered multi-family for-sale residential developments are asked to explain how their project is responsive to the Village's affordable housing goals.  Developers are provided with guidelines and tools for including affordable housing units in their developments in the Village of Arlington Heights' Multi-Family Affordable Housing Toolkit.

Rental Housing Locator
The State of Illinois has created a website to assist renters in finding affordable and accessible properties.  This on-line service is FREE.  Searches may be done by location, rent amount, eligibility requirements, and more.  Landlords may advertise properties for FREE and may provide detailed information and photographs for properties for rent.  Fore more information go to the Rental Housing Locator Brochure or to www.ILHousingSearch.org, or call 1-877-428-8844.

Timber Court Condominiums/Affordable Home Ownership Opportunity
Applications are now being taken for the purchase of the remaining available new construction, permanently affordable, 1-bedroom condominiums in Buildings 1 & 2 at Timber Court Condominiums (3400 and 3402 N. Old Arlington Heights Road, Arlington Heights, IL).  Affordable units may only be purchased by households meeting the program income and asset guidelines.  For more information go to Timber Court Condominiums Information and the Timber Court Condominiums Application.               

Foreclosure Prevention
The Illinois Housing Development Authority has information for people who are currently behind on their mortgage payments or who anticipate problems with meeting future mortgage payments.  For more information go to www.ihda.org.  Also, free Foreclosure Avoidance Counseling is available from HUD approved housing counseling agencies.  To locate a HUD-approved housing counseling agency, go to www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm/.


FEDERAL HOUSING PROGRAMS

Federal Subsidized Housing in the Village of Arlington Heights
              

Linden Place:  110 units for low income senior citizens and 80 units for low income families. For more information, call Linden Place at (847) 228-1212.
Goedke House:  118 units for low income senior citizens. For more information, call Goedke House at (847) 253-5450.
Cedar Village of Arlington Heights:  80 units for low income senior citizens. For more information, call Cedar Village of Arlington Heights at (847) 506-1010.

All of these facilities have waiting lists. Linden Place and Cedar Village of Arlington Heights give preference on their waiting lists to current Arlington Heights residents. In some cases, preference is also given to family members of Arlington Heights residents.

Federal Section 8 Program