Forgivable Home Grants in Summit Illinois
Home Buyer Grants in Summit 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 Summit, 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 Summit 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.
A summit is a point on a surface that is higher in elevation than all points immediately adjacent to it. Mathematically, a summit is a local maximum in elevation. The topographic terms “acme”, “apex”, “peak”, and “zenith” are synonymous.
The term “top” is generally used only for a mountain peak that is located some distance from the nearest point of higher elevation. For example, a big massive rock next to the main summit of a mountain is not considered a summit. Summits near a higher peak, with some prominence or isolation, but not reaching a certain cutoff value for the quantities, are often considered subsummits (or subpeaks) of the higher peak, and are considered part of the same mountain. A pyramidal peak is an exaggerated form produced by ice erosion of a mountain top.
Summit may also refer to the highest point along a line, trail, or route.