Housing expo this Saturday in Joliet
Brock A. Stein | 9/6/2017, 11:16 a.m.
Hundreds of prospective homeowners are expected to attend this year’s Joliet Housing Expo which will take place Saturday from 9 to noon at Bicentennial Park, 201 W. Jefferson St.
Professionals in real estate as well as those able to answer questions ranging from legal concerns, to financing to home inspections will be there to meet with the public.
Gideon Blustein of The Three Rivers Association of Realtors which represents over 1000 professional home brokers in the Joliet area said that the event is being organized in conjunction with the Will County Center for Community Concerns as well as First Midwest Bank.
First Midwest Bank vice president Cornell Lurry said that the event is a “showcase for what a great place Joliet is to live” and gives potential home buyers information on the type of assistance available to them.
“We encourage renters to become homeowners and commuters to become residents,” he said.
Lurry said that in addition there will be over 40 vendors in attendance to help showcase the amenities in the area including representatives from area school districts, the YMCA and the Rialto Square Theater among others. He said that last year’s event attracted over 250 people and he hopes that this year there will be more that will come out to the free event.
The city has committed $300,000 this year for the Joliet Down Payment Assistance Program to help low-income home buyers looking to purchase a home within the city limits.
The program helps families with assistance on their overall, long term payments for a home and includes loan forgiveness options that last 5, 10, and sometimes 15 years, depending on the amount of the loan.
First-time home buyers can get down payment assistance ranging from a $1,000 minimum to a maximum based on 17% of a home’s total price.
A home buyer is required to contribute $2,500 of their own funds toward the purchase.