Affordability

Green Armitage has been shown by computer modeling to exceed the EPA's Energy Star standard by more than 90%. That equates to very low energy bills (assuming reasonable use). The high quality of construction needed to acheive this standard means you are purchasing a unit in a well-designed and durable building. This makes the cost of operating your home much lower than a comparable "conventional" property.

NCHAMP: National City Bank is has come on board as a prefered lender and offers the NCHAMP program. This program allows the lender to offer a 30-year fixed-rate mortgage at an interest rate 1.5 points below market rates on a conforming (non-jumbo) loan. Click here for more information.

Other programs that may increase the affordability of our units:

TaxSmart: Green Armitage is in a "targeted area" which means the low-to-moderate-income and first-time buyer exclusions don't apply for people obtaining this type of financing. Must be done through a participating lender.

CRA Incentives: CRA stands for “Community Reinvestment Act”. This law requires that banks lend equally in all areas of town. There are 2 ways a borrower can qualify for these incentives for their mortgage:

1) Buyer meets the low-to-moderate household income requirement or

2) The property is located within a CRA census tract.

These incentives vary depending on the loan amount and can change during the year. Green Armitage falls into an eligible census tract so buyers would be eligible to use this incentive toward their closing costs or to buy down their interest rate (or a combination of both). Must be done through a participating lender.

City of Chicago Employees: Check with your HR department for more housing assistance programs available to you.

For more information, please contact Celeste Karan at (773) 883-5709 or celeste@kw.com.