Illinois beefs up home program for military

Published: Monday, Nov. 12, 2012 11:27 a.m.CDT

WESTCHESTER – State officials have beefed up a program that helps members of the military in Illinois buy their first home.

Gov. Pat Quinn announced an additional $5 million for the program on Monday, when Veterans Day is observed.

The money comes from a capital fund and is estimated to help 500 families buy homes.

Those who qualify for the "Welcome Home Heroes" program get a $10,000 forgiveable loan, low interest rate on a 30-year mortgage and help with closing costs.

Army Sgt. 1st Class Eric Sereda and his wife, Shanon, were able to purchase a three-bedroom home in the Chicago suburb of Westchester. The newlyweds say the program let them have extra money for their wedding and to start their new life together.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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