![]() Is there home purchase assistance available?The City of Chicago and HCBA have teamed up to bring TaxSmart and City Mortgage savings to Bungalow owners.![]() |
![]() Bungalow TaxSmartTaxSmart is a mortgage program that provides a federal income tax credit to qualified homebuyers. A tax credit is a direct reduction of taxes due. Under the program, a homebuyer would receive a credit to reduce income taxes by an amount equal to 20% of the interest paid on a mortgage. The tax credit may be claimed each year the homebuyer continues to live in a home financed under this program. Eligible borrowers must have the certified Historic Chicago Bungalow as a primary residence and be first time homebuyers.Benefits of Bungalow TaxSmart:
Important InformationTaxSmart application must be secured before purchase is complete.Eligible borrowers must have the certified Historic Chicago Bungalow as a primary residence and be first time homebuyers. Download a TaxSmart brochure. For more information and complete income limits and requirements, click here. |