Teachers in Evanston public schools are eligible for a state-funded loan/grant program that can help them buy a home in Evanston.
The program, available to teachers in Districts 65 and 202, provides a second mortgage loan of up to $20,000 — with payments deferred for five years.
If the teacher is still with the district after the five year period, the loan is forgiven.
To be eligible for the program, the teacher’s household income can’t exceed 125 percent of the median household income in Evanston. The program is available to teachers who have an existing home to sell, as well as to first-time homebuyers.
In an effort to promote the program, the developers of the Church Street Village townhomes in Evanston are adding onto the program a $10,000 credit that teachers can use to upgrade their unit or further reduce the purchase price.
Walter Kihm, chairman of developer Cyrus Homes, says the development, at 1613 Church St., has units available starting at $367,000, and also offers low utility costs with geo-thermal heating and cooling systems.
The development includes two- and three-bedroom townhomes with a den or office, 2.5 baths and garage parking.
More information on the program is available by calling Michael Thomas at 847-322-6968.