Chicago public school teachers
who are first-time homebuyers in Chicago!
The two programs described below will help you save money now – at
the time of your home purchase – and save money later, every year
for the duration of your mortgage!
Save Money Now – with closing cost and down-payment assistance:
The CPS Teacher Homebuyer Assistance program provides financial assistance to
highly qualified Chicago public school teachers who are first-time homebuyers
in Chicago to purchase homes and continue teaching for the Chicago Public
Schools (CPS). The forgivable loan granted for each qualifying CPS teacher –
funded by CPS, provides a $3,000 per teacher in closing cost and
Save Money Later through "Tax Smart" – with additional federal income tax reduction:
By combining our Teacher Homebuyer Assistance with TaxSmart, another first-time
homebuyer program, participating teachers can save even more money over the
life of their mortgages. TaxSmart enables participants to save up to $2,000 in
federal income tax reductions each year of they pay on their mortgages.
Contact any of these Teacher Housing Lender Partners to benefit from both