Chicago Public Schools Teacher Housing: Home Buying

Sponsored by CPS Teacher Housing Resource Center
Qualified CPS teachers can now get up to $7,500 in homebuyer assistance
Each eligible CPS teacher must be:
  • A highly-qualified CPS teacher for at least one academic year
  • Committed to teach an additional 5 years at CPS
  • A first time homebuyer in Chicago with homeownership education certificate
The assistance is:
  • An interest-free loan forgiven at the end of the 5 th year
  • $7,500 to purchase/live in a new Plan for Transformation development
  • $3,000 to purchase/live anywhere else in the City
Mortgage must originate with 1 of 11 CPS’s 2008 Teacher Housing Lender Partners: Wells Fargo, Washington Mutual, Professional Mortgage Partners, National City Mortgage, Fifth Third, CitiMortgage Chase, Charter One, Bank or America, A & N Mortgage and the Chicago Municipal Employees Credit Union. Contact Lender Partner representatives identified on the CPS Teacher Housing “Lender Partner Referral List.”

For more information, visit the Teacher Housing Resource Center homepage at teacherhousing.cps.k12.il.us.