The new HOME ADVANTAGE mortgage rehab program, financed by the Illinois Housing Development Authority (IHDA) and administered by ShoreBank, was created in partnership with Congressman Danny K. Davis, SANKOFA, a non-profit community group based on Chicago’s West Side, and the Community Ventures Investment Corp. (CVIC) development company. HOME ADVANTAGE is the first and only available IHDA program that rolls the purchase and renovation costs into one loan.

The HOME ADVANTAGE mortgage is a pilot program designed to preserve existing affordable housing. Preservation of existing affordable housing is a key component of Gov. Blagojevich’s vision for affordable housing in Illinois and is an essential part of Illinois’ first comprehensive housing plan Building For Success. This working plan outlines Gov. Blagojevich’s housing goals and includes specific strategies to effectively use state resources to best meet the affordable housing needs of Illinois residents.

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