The HERO Fund Assisted Housing  Program provides eligible Chicago Bread and Wendy’s of Chicago employees with education and counseling on buying a home in the Metro Chicago area and, if approved for home purchase, a $3,000 5-year forgivable loan towards the down payment.

The HERO Fund offers this program in partnership with the Northside Community Development Corporation (NCDC) to educate and prepare all participants for home ownership, as well as connect employees with available city, county and state funding and referrals to real estate agents in order to make home ownership a reality.

 

The NCDC offers eligible employees with the following:

  • Home buying education and counseling to empower employees to make an informed purchase
  • Connections with down payment assistance and other programs to help with home purchases
  • Referrals to real estate professionals
  • 5 years of assistance and support for employees who take part in the program


Eligibility Requirements
for taking advantage of this program

An employee must meet the following criteria to be eligible for the HERO Assisted Housing program loan:

  • Be a full time employee of Chicago Bread or Wendy’s of Chicago
  • Have completed 1 year of satisfactory service with Chicago Bread or Wendy’s of Chicago and any probationary conditions of employment
  • Be an employee in “good standing” and with prospects of continued full time employment.
  • Purchase a home (as primary residence) within the Metro Chicago Area
  • Attend a Homebuyer Education and Counseling session (8 hours) conducted by our non-profit partners (NCDC) and demonstrate commitment to working with NCDC by meeting pertinent conditions stipulated by lenders, including but not limited to credit counseling, home buying education, and filling out employer assisted housing reports as required.
  • Able and willing to contribute at least $1,000 of the purchase price from their own savings towards their home purchase (actual minimum contribution amount will depend on loan requirements of the mortgage lender)

 

For more information and to participate in this program, contact Vyckie Kranz at the Northside Community Development Corporation.

Vyctoria (Vyckie) Kranz,

EAH Coordinator (NCDC)

Phone: 773.262.2290 ext. 14

Emailvyckie@northsidecr.org

Website:  http://www.northsidecdc.org/

 

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