Illinois REALTORS® President Matt Difanis speaks with state Treasurer Michael Frerichs at an event in Alton on Tuesday promoting a package of rural investment programs. Illinois REALTORS® were on hand with the treasurer at a number of stops across the state, including Moline, Peoria, Quincy and Murphysboro. Photo: Ron Deedrick.


Peoria REALTORS® joined state Treasurer Michael Frerichs at an event in Peoria on Monday. Pictured are, left to right, Frerichs, Mary Ann Ladendorf, Peoria Area Association of REALTORS® president and Bill McCarthy, PAAR past president. Photo Kristie Engerman.

Illinois REALTORS® were on hand for a series of events this week relaunching a package of investment programs which targets rural businesses and homeowners.

Called the Invest in Rural Illinois Programs, the effort includes the Treasurer’s Finally Home initiative which works with lenders to provide assistance for qualified potential homebuyers in rural areas.

REALTORS® attended announcements by state Treasurer Michael Frerichs in Moline, Peoria, Quincy, Murphysboro and Alton. Last week, REALTORS® were at a press conference in Champaign. The programs total $500 million in potential rural investment, and the Treasurer’s Office is working with financial institutions statewide to get the funds where they are most needed.

Attending the events was Illinois REALTORS® President Matt Difanis.

Those living in rural areas statistically have a harder time obtaining financing for a home purchase. Rural areas often have less in the way of housing stock, and the cost of housing is high relative to income levels. That can make it hard for homebuyers and others to get the loans they need to stay in rural communities.

The Treasurer’s office has a webpage with all the program information.

As reported in the Alton Daily Telegraph:

“These funds are highly targeted, where the transaction makes a difference” in whether he or she can obtain a home loan or refinance a current mortgage because of a marginal credit score, Difanis said. “Many of these communities have a very long and proud history, and without home loan money, they would see their communities deteriorate.”