Free Seminars: Community Bank Offers "Welcome Home Heroes" Financing Package

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By Community Editor

Two free seminars about the “Welcome Home Heroes” financing package will take place on Thursday, February 29. These seminars are for veterans and active military personnel who are interested in taking advantage of the “Welcome Home Heroes” financing package offered at Community Bank of Oak Park River Forest through the Illinois Housing Development Authority. The first seminar is from 4 p.m. to 5 p.m., and the second seminar is from 6 p.m. to 7 p.m. Each seminar is open to the public, and guests are invited to attend which ever seminar fits their schedule. The seminars will be held at the offices of Operation Uplift, 104 South 5th Avenue, Maywood, IL. Guests can register by calling (708) 660-7031, or emailing frankf@cboprf.com.

Community Bank of Oak Park River Forest is a proud provider of the Illinois Housing Development Authority’s “Welcome Home Heroes” mortgage financing package. The “Welcome Home Heroes” package focuses on providing financial assistance to all qualified first-time homebuyers who are reservists, military personnel and members of the Illinois National Guard. Veterans can also participate in this program, and they do not need to be first-time homebuyers in order to qualify.

Bernard D. Headley II, Community Lending Specialist for Community Bank, said “Community Bank’s mission is to make homeownership a reality for veterans in Maywood and nearby communities, which is something we share with Operation Uplift. Their Passport to Learning project calls for providing referral resources for veterans, and Community Bank is honored to be a trusted partner.” Qualified first-time home buyers looking to purchase a home, but who need additional funds to make the down payment and pay closing costs, can use the “Welcome Home Heroes” package to obtain a grant towards making a down payment. Those military families needing down payment and closing cost assistance can apply for home financing at Community Bank of Oak Park River Forest, and need to meet the Bank’s credit underwriting standards.

The “Welcome Home Heroes” financing package applies to 1-2 unit residential properties located in Illinois that are purchased as a primary residence. Community Bank will apply for the grant on behalf of the borrower, as borrowers cannot apply for the grant directly. Borrowers must also receive home ownership education to help ensure that they understand the home buying process as well as the financial responsibilities of home ownership. Bernard D. Headley II said, “Military families deserve our thanks and gratitude for their service. This program invests in their future, and will help many military families throughout Maywood and nearby areas achieve their dream of home ownership.”

In addition to veteran assistance, Community Bank offers options for non-veterans with the IHDA SmartMove program, which provides down payment assistance for qualified borrowers. For questions and further details about the “Welcome Home Heroes” package or the SmartMove program, call Bernard at (708) 660-7049, or email him at bernardd@cboprf.com.

Community Bank has been a frequent facilitator of financial literacy events, and during its fifteen year history, Community Bank has donated over $2 million to various local civic and charitable organizations. Community Bank of Oak Park River Forest was organized in 1996 as a locally owned bank focused on creating financial solutions for individuals, professionals, owners of closely-held businesses and nonprofit organizations. Community Bank, which had assets of $351 million as of December 31, 2010, has two locations: 1001 Lake Street, Oak Park and 7777 Lake Street, River Forest. Member FDIC | Equal Housing Lender

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