Forgivable Home Grants in Lake of the Woods Illinois
Home Buyer Grants in Lake of the Woods 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 Lake of the Woods, 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 Lake of the Woods 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.
Lake of the Woods (French: lac des Bois) is a lake occupying parts of the Canadian provinces of Ontario and Manitoba and the U.S. state of Minnesota.[2] It separates a small land area of Minnesota from the rest of the United States. The Northwest Angle and the town of Angle Township can be reached from the rest of Minnesota only by crossing the lake or by traveling through Canada. The Northwest Angle is the northernmost part of the contiguous United States. Its “northwesternmost point” served as a problematic landmark in treaties defining the international border.
Lake of the Woods is fed by the Rainy River, Shoal Lake, Kakagi Lake and other smaller rivers. The lake drains into the Winnipeg River and then into Lake Winnipeg. Ultimately, its outflow goes north through the Nelson River to Hudson Bay.