| Loan | 30yr | 15yr | ARM |
| P&I | $981 | $1,446 | $864 |
| Total | $1,373 | $1,838 | $1,256 |
Pre-calculated monthly payments for average price† of a single family home ($231,842) within 60638 zip code area, 15% of down payment ($34,776) and monthly expenses including PMI ($102), property tax ($234) and hazard insurance ($56)
† on Jul 31st, 2010 4:51pm
In hopes of helping some Chicagoans with the recently issued 2008 second installment property tax bill increase, Mayor Daley has included a Property Tax Relief Program in the 2010 Budget Plan. The program provides a $25 - $200 grant to qualifying homeowners, based on income and amount of tax increase in their area.
The amount of the grant is dependent on how much your property taxes went up and what your income is. Chicago homeowners with a property tax increase of $50 or more and an income of $200,000 or less may be eligible for some relief. Basically, the more your taxes went up and the less you make, the more grant money you get.
Click here to see more information from the City of Chicago web site and find out if you qualify.
Download an Informational PDF (in English)
Download an Informational PDF (in Spanish)
