When Chicago residents first apply for a mortgage, lenders will run credit checks against data contained in a Chicago Work From Home Application (WHOA). This database contains data about employment, addresses, income and other personal information regarding an applicant’s home-based business. In order to qualify for a mortgage, the applicant will need to prove that he or she is indeed an authorized employee of an employer that serves Illinois residents. If you’re not sure whether or not you fit into this category, it’s a good idea to check your credit report for any negative or inaccurate information.
A Chicago Stay At Home Order can help homeowners obtain the necessary money to make their dreams come true by helping applicants submit a WHOA. A lender will review and approve a borrower only after they have provided proof of employment and other personal information regarding their homes. An application for a Chicago Stay At Home Order requires some basic information: your contact information, employment details, the name and address of your employer, and the name and address of your personal residence. Before submitting your CHOA, be sure to provide all the details you listed. This includes the employer’s name, address and phone number, the exact dates you started work and when your job ended, and the names and dates of all your monthly payments to your employer. You should also provide proof of your home-based business, if any.
Chicago residents who are receiving the most assistance through this program are homeowners who own a business. This is because these businesses are more likely to be seasonal and thus offer flexible working hours. Many small businesses in Chicago also work on weekends and holidays. The Stay At Home Order is not available for residents who work at home for a company or for more than six months in a year. It’s not valid if you work for a company for less than a year. If you’re currently working with an employer that’s willing to extend this eligibility period to you, contact the human resources department to find out if this program is available for your employer. Some businesses have been known to extend their stay at home program to employees who work part-time for them as well.