Forgivable Home Grants in Oak Forest Illinois
Home Buyer Grants in Oak Forest Illinois
Do you meet the general criteria for a home loan but lack the down payment? Because this happens far too often Smart Mortgage Centers has created forgivable grant programs in Oak Forest, IL that provide down payment and closing cost assistance for borrowers who would otherwise qualify for a mortgage.
Smart Mortgage Centers offers Homebuyer Grants. To qualify the mortgage will be completed by Smart Mortgage Centers. Grant programs in Oak Forest are not limited to First Time Homebuyers.
- 580 Credit Score Required
- Grant is completely forgiven – no repayment required!
- Grant can be used for down payment and/or closing costs
- Seller Credit of 6% is allowed
- Gift funds are allowed!
- Borrower(s) not required to be First Time Homebuyers.
- Income limit is based on qualifying income used for transaction, not household income.
Oak Forest is a suburban city about 24 miles (39 km) south-southwest of downtown Chicago in Bremen Township in Cook County, Illinois, United States. The population was 27,962 at the 2010 census.[4]
The origins of present-day Oak Forest begins with a railroad whistle stop on the Chicago, Rock Island and Pacific Railroad 1 block south of the intersection of 167th street and Central Avenue which primarily served area dairy farmers. This stop was located in a largely forested area of what was previously known as the Cooper’s Grove Stand of Timber. By the 1880s this particular area of timber was being referred to as the “Oak Forest” due to its abundance of oak trees. A section of the former “Cooper’s Grove Road” paralleling the railroad track from 66th Court to 167th Street in Tinley Park became known as “Oak Forest Avenue,” because it was the road from the Village of Bremen/New Bremen (now Tinley Park) that lead to this “Oak Forest.”