Resources: Chapter 8

LOCAL LINKS

ACCION Chicago
An alternative lending organization dedicated to providing credit and other business services to small business owners who do not have access to traditional sources of financing.

Bickerdike Redevelopment Corporation
A member-based, nonprofit community redevelopment corporation working for communities on the northwest side of Chicago.

Chicago Area Housing (CAH)
A region-wide project hosted by the Northeastern Illinois Planning Commission (NIPC).

Chicago Department of Housing
Offers programs to assist area residents with the purchase and renovation of residential property.

Chicago Partnership for Affordable Neighborhoods
Affordable condos and single-family homes in market-rate developments, particularly in appreciating neighborhoods, through two steps: developer write-down and possible purchase price assistance to homebuyers.

Chicago Urban League Development Corporation
Focused in on education, economic development,and community empowerment.to eliminate racial discrimination and segregation.

Claretian Associates
Expands housing options for South Chicago residents. Offers credit counseling referrals and financial education.

Community Bank of Lawndale
Offers personal and business loans, as well as loans to nonprofits.

Community Development Venture Capital Alliance
Venture investors who focus on community development.

Community Investment Corporation
Nonprofit mortgage lender that provides financing to buy and rehab multifamily apartment buildings. With funds from the city CIC, it can provide aid of up to $10,000 per unit.

First Bank
Provides housing and facility development loans, as well as small business loans to the Pilsen, Little Village and Back of the Yards neighborhoods.

First Time Homebuyer Program (MRB)
Sponsored by the Illinois Housing Development Authority, the MRB prgram offers 30-year fixed-rate-mortgages at below market interest rates.

Freddie Mac
To stabilize the nation's mortgage market, purchases single-family/multifamily mortages and mortgage-related securities.

Historic Chicago Bungalow Initiative
Benefits for new Bungalow buyers and Bungalow owners.

Illinois Department of Aging
State agency that offers assistance programs, including real estate, repair and renovation loans, to seniors.

Illinois Division of Banks and Realtors (OBRE)
Protects and educates the public on matters associated with the banking and real estate industries. Oversees the regulation and licensure of state-chartered banks and other agencies.

Illinois Facilities Fund (IFF)
Provides loans to nonprofits in Illinois, as well as assistance with facility planning and development.

Illinois State Treasurer
Offers assistance programs and information on finances and taxes for businesses and nonprofits.

Near Northwest Neighborhood Network
Develops the community through institutional partnerships, which work through issue-driven action teams.

Neighborhood Housing Services
Home ownership education classes offered at several neighborhood locations, including NeighborWorks Homeownership Center. Provides classes in purchasing, rehabbing, insuring, and maintaining a home, in both Spanish and English.

Neighborhood Housing Services of Chicago, Inc.
Provides mortgage loans for single-family homes and residential properties with up to four flats.

Nobel Neighbors
Community-based membership organization to enhance the quality of life in West Humboldt Park.

Partners in Charity
Nonprofit that will pay the three percent down payment on an FHA loan as a grant.

Shorebank Corporation
Provides loans for housing and facility development, as well as loans to small businesses and nonprofits in Chicago and select markets nationwide.

TaxSmart Mortgage Credit Certificate
First-time home buyers can save additional money in federal income taxes owed by applying for the TaxSmart Mortgage Credit Certificate at the same time as when applying for their first mortgage.

UCAN
Real estate consulting company.

West Cook Community Development Corporation
Provides loans for small businesses.

Women's Business Development Center
Provides counseling services to small businesses as well as small business loans.

INTERNATIONAL LINKS

AmeriDream
Nonprofit organization that offers gift assistance programs to buyers of single-family homes valued up to $322,700, and multi-family homes up to $620,500.

ArtSpace USA
America's leading nonprofit real estate developer for the arts. Creates, fosters and preserves affordable space for artists and arts organizations.

Association for Enterprise Opportunity
National organization of micro enterprise lenders, whose membership provides micro loans to small businesses.

CDS Grants
Provides home buyers with assistance through a private gift trust fund.

Dream Maker Program
Sponsored by International Housing Programs. Helps cash-strapped buyers with free gift money for down payments and closing costs.

Fannie Mae
Offers mortgages to the public beyond traditional government loan limits to low, moderate, and middle-income households.

Gift America Program (GAP)
Requires the seller to pay the amount of the gift plus 7.5 percent, based on the sales price of the house after settlement. Buyers must be approved by lenders who allow gift assistance.

Golden Feather Realty
Specializes in the management and disposition of single-family homes.

Habitat for Humanity
Provides no-interest mortgages to qualified individuals who can make a $1,000 down payment and invest a required number of sweat-equity hours in building their spaces.

HomeGrantsUSA.org
Sponsored by the New Home Gallery, this is a traditional down payment assistance program.

Homes for All Program
No geographic restrictions or limits on buyers' income or assets. As with other gift assistance programs, the home buyer does not repay the funds, and the seller pays in the amount of the gift plus a processing fee.

Jewish Council on Community Affairs
Provides loans for affordable housing and economic development projects.

Local Initiatives Support Group (LISC)
Provides loans for the development of affordable housing and facilities.

Location Efficient Mortgage (LEM)
A mortgage that helps people become homeowners in location-efficient communities.

Lumity a Nonprofit Resource Service
Consulting group that catalyzes the nonprofit community to do more good work by increasing the capacity of charitable organizations to more effectively fulfill their missions.

NAREB Housing America Fund
ATruCharitySM down payment assistance gift fund program that complies with FHA guidelines.

National Community Capital Association
Invests in small businesses, quality affordable housing, and vital community services that benefit economically disadvantaged people and communities.

National Congress for Community Economic Development
An organization of more than 700 community development corporations and groups that participate in community development activities, including lending.

National Equity Fund, Inc.
Provides loans for affordable housing development.

National Federation of Community Development Credit Unions
Dedicated to community development.

Nehemiah Program
One of the oldest organizations offering down payment gift assistance to home buyers. Rules and restrictions are similar to other down payment gift programs. Follows HUD's guidelines.

Neighborhood Assistance Corporation of America (NACA)
A nonprofit organization that provides loans to low- and moderate-income people and sub-prime borrowers. Also provides workshops on homeownership and credit counseling.

Neighborhood Gold Downpayment Assistance Program
Provider of down payment assistance grants from The Buyer's Fund. Its grants can be used on any home, and with conventional or sub-prime loans.

Nonprofit Finance Fund
Serves nonprofit organizations through financing and advisory services.

Purchasing Space: Information from ArtistLink
From the Massachusetts based Website. Some informative pages about purchasing your own space.

RealtyAmerica.org
A nonprofit that collects the gift amount from sellers plus a 7.5 percent fee that goes into a pool of funds from which gifts are paid.

Self Help Credit Union
A community development lender that has provided over $3.9 billion in financing to individual, under-served home buyers, small businesses and nonprofits nationwide.

Seniors Real Estate Specialists
These real estate agents have received special training to assist seniors in finding spaces that meet their unique lifestyle choices, housing issues and needs.

Teacher Next Door Program (TND)
Designed to further the goals of HUD by encouraging teachers to buy homes in low- and moderate-income neighborhoods.

U.S. Department of Housing and Urban Development (HUD)
Creates, rehabilitates and maintains the nation's affordable housing, enforces the nation's fair-housing laws, helps the homeless, and helps local communities meet their development needs.

U.S. Small Business Administration
Free resources and advice for starting and growing a small business.

Women's Self-Employment Project
Provides micro loans to women-owned businesses, as well as professional development workshops. Also provides free assistance with tax preparation.