Home Ownership Program | Program Qualifications
All homes owned by the Foundation and sold to an employee have a one-year warranty. (Additional discounts may apply)
- Must be a full-time employee of SwedishAmerican Health System in "good standing."
- Purchased home must be within a certain radius of the main hospital campus
(Rural - North, Woodruff - South, Longwood/7th - West, Prospect/ Garnier/14th - East).
- Must be primary resident.
- Must stay in home for five years. Penalty is a 1/60th per month ($1,000 per year) return.
- Must obtain own financing.
- Jackson TIF homes are available to the general public. Qualifications do apply. However funds do not apply.
Down-payment is payable to Title Company at closing; no funds are given to individuals.
Down-payment is filed as earned income on employee's W2 ($1,000 per year for five years).
Homeownership educational classes through Rockford Housing Coalition are available to employees wishing to purchase a home within the Dual Track area. Upon completion, additional funds (employee match program) may be available.