Glenwood, Illinois First Time Homebuyer
Ready to do this? We got your back!
Find a Glenwood, IL Mortgage Broker
24 Hour Live Mortgage Hotline
We are available to answer questions and ready to get you pre-approved. Connect with your own personal Mortgage Broker now. Glenwood, Illinois Mortgage Broker Hotline 888-882-1058.
Online Mortgage Application
Start your online mortgage now. Our easy home loan application can be completed in 10 minutes. Move along quickly with secure document uploads & electronic signatures. We will get you to the closing table quickly. START ONLINE APPLICATION.
HUNDREDS OF HAPPY CLIENTS SINCE 1997!
Google, Better Business Bureau, Yelp, Facebook and Zillow READ MORE
Homebuyer Options in Glenwood, Illinois
The Glenwood, Illinois FHA home loan allows for borrower’s to qualify with smaller down payments. Fico scores 580 and higher can qualify for a payment of 3.5% down. Fico scores between 500 – 579 can still qualify with 10% down. Pre-qualify for Glenwood, IL FHA mortgage financing 888-882-1058.
Grants for Glenwood, Illinois Homebuyers are available to assist with down payments and or closing costs. Grants at Smart Mortgage Centers are completely forgivable and you are not required to be a first time homebuyer. The Glenwood, IL grant program is only available to borrower’s applying for mortgage financing with Smart Mortgage Centers.
- 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.
Our licensed Mortgage Brokers are standing by to assist homebuyers with grant questions and pre-qualification. Apply for a Grant Now at 888-882-1058.
Home Possible® mortgages in Glenwood, Florida offer low down payments for low- to moderate-income homebuyers or buyers in high-cost or under served communities. Home Possible® offers two programs for homebuyers. Our Mortgage Brokers are standing by to explain Home Possible® and can answer any question you may have. Pre-Qualify now for Glenwood Home Possible® at 888-882-1058. Read more about the 3% Down option or the 5% down option. Glenwood, Florida Home Possible Advantage® 3% down program.
- LTV: Maximum LTV of 97 percent; TLTV 105 percent.
- Property Options: 1-unit properties, condos and planned unit developments; manufactured homes are not eligible.
- Flexible Sources of Down Payments:Down Payment can come from a variety of sources, including family, employer-assistance programs and secondary financing.
- Cancellable Mortgage Insurance: Mortgage insurance (MI) can be cancelled after loan balance drops below 80 percent of the home’s appraised value.
- Stable Mortgages: Fixed-rate mortgages with a term of up to 30 years.
- Refinance Flexibility: Purchase and no cash-out refinancing options available.
- Income Flexibility: No income limits in underserved areas. Use the Home Possible Income & Property Eligibility Tool to see income limits for specific properties.
- Primary Residence Only: All borrowers must occupy the property as their primary residence.
Glenwood, Florida Home Possible® 5% down program
- LTV: Maximum LTV and TLTV of 95 percent.
- Property Options: 1-4 units, condos and planned-unit developments; manufactured homes are eligible with certain restrictions.
- Flexible Sources of Down Payments:Down Payment can come from a variety of sources, including family, employer-assistance programs and secondary financing.
- Cancellable Mortgage Insurance: Mortgage insurance (MI) can be cancelled after loan balance drops below 80 percent of the home’s appraised value.
- Mortgage Flexibility: 15- to 30-year fixed-rate mortgages, 5/1, 5/5, 7/1 and 10/1 ARMs.
- Refinance Options: No cash-out refinancing option is available for borrowers who occupy the property.
- Income Flexibility: No income limits in underserved areas. Use the Home Possible Income & Property Eligibility Tool to see income limits for specific properties.
- No Credit Score Necessary:Borrowers without credit scores are eligible for mortgages with down payments as low as five percent.
HomeReady® Home Loan in Glenwood, Illinois
Our low down payment mortgage designed to help lenders confidently serve today’s market of creditworthy low- to moderate-income borrowers. HomeReady qualified Mortgage Brokers are standing by to answer questions and pre-qualify homebuyers now. Pre-Qualify for Glenwood, IL HomeReady® call 888-882-1058.
Ideal HomeReady Borrowers
- Have low to moderate income
- Are first-time or repeat homebuyers
- Have limited cash for down payment
- Have a credit score ≥ 620; borrowers with credit scores ≥ 680 may get even better pricing
- Have supplemental boarder or rental income
- Are looking to purchase or refinance
Cancellable Mortgage Insurance*
Unlike government-insured loans, with HomeReady, borrowers may have the option to cancel their mortgage insurance once their home equity reaches 20%. This can result in lower monthly payments down the road.
Flexible Funding
With HomeReady, cash for down-payment and closing costs can come from multiple sources, including gifts, grants, and Community Seconds ® – with no minimum personal funds required.
A USDA home loan in Glenwood, Illinois is a zero down payment mortgage for eligible rural and suburban homebuyers. USDA loans in Illinois are issued through the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, by the United States Department of Agriculture. USDA Mortgage Brokers are available to answer questions and supply homebuyers with pre-approvals to shop for eligible homes. Our Mortgage Brokers are happy to look up eligible USDA properties or homebuyers can check to see if a property is eligible here. https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do Pre-Qualify for a Glenwood, Illinois USDA Home Loan 888-882-1058.
For eligible veterans and active duty military personnel a Glenwood, Illinois VA mortgage loan can be a wonderful benefit to take advantage of. The Department of Veterans Affairs guarantees these loans, which can finance as much as 100% of the value of the property, ensuring low rates and easier qualification guidelines when compared to conventional loans. Glenwood, Illinois VA Mortgage Brokers 888-882-1058.
Glenwood, Illinois Home Renovation Loan
Whether your home improvement projects are large or small, a Glenwood, IL home renovation loan from Smart Mortgage Centers may be right for you. With a home improvement loan, you’ll be able to finance simple upgrades, remodeling or more complex renovation projects, and everything in between. Monthly payments on home renovation loans are typically lower than credit cards or personal loans and, in some cases, financing may even be tax deductible*. If you’re considering a home remodel, here is more information about home remodeling loans and what they can do for you and your home. Get your Glenwood Home Renovation Questions answered now 888-882-1058.
If you plan to purchase a fixer-upper or renovate your existing home, an FHA 203(k) loan may be the perfect loan for you. FHA 203(k) loans in Glenwood, IL are backed by the federal government, and are a great loan option for those who want to purchase a home and perform upgrades, repairs, remodel or customize to their needs and wants. Smart Mortgage Centers has FHA 203(k) specialists standing by to answer all of your FHA 203(k) Renovation Loan questions.
What Is A Manufactured Home Loan?
Glenwood, Illinois Manufactured home loans are designed for factory-made homes built on a permanent chassis, and generally come in single or two-section units. This option offers various types of loans for Glenwood, IL homebuyers: FHA, VA, and conventional loans. Our Licensed Mortgage Brokers are ready to assist you at 888-882-1058.
What Are The Advantages Of A Manufactured Home Loan?
They may be small homes, but don’t be fooled – they come with big benefits. If you’re considering a manufactured home loan in Glenwood, Illinois, these are some of the advantages:
- Manufactured home loan rates are affordable
- You can choose between a conventional, FHA, or VA loan
- Down payment options as low as 3.5% for FHA and 5% for conventional
- Manufactured homes are environmentally friendly
The Requirements Of A Manufactured Home Loan
To find out if a property qualifies for a manufactured home loan, it makes sense to seek the advice from a lender, like us. But here are some general guidelines:
- The home was built on or after June 15, 1976
- Has no wheels and is designed as a single-family dwelling
- Has a minimum of 400 sq. ft. for an FHA mortgage
- Has a minimum of 600 sq. ft. for a conventional loan
- Is permanently affixed to the property site for more than 12 months
- You have a credit score of at least 580 for an FHA or 620 for a conventional (Other restrictions may apply, depending upon product and State.)
If you like small home living, or If you’re a renter and want to take the first step to homeownership, a manufactured home loan could be right up your alley. A Home Loan Specialist can give you more information on manufactured home loan rates and whether this loan is the right option for you.
The Highest Rated and Reviewed Mortgage Broker
Glenwood, Illinois First Time Homebuyer
Most people dream about owning a Glenwood, Illinois home for years before it becomes a reality. It can be scary to take that leap into home ownership, but it is a wonderful feeling to not be throwing money away on rent month after month. You also have the pride in knowing you own your own home, and can truly make it yours. Get started with a fast pre-approval (within minutes), we will supply you with Glenwood, IL home loan options that make sense. No application fees, free quotes, lower rates and of course more options. Smart Mortgage Centers is recognized for its awarding winning service since 1997 and 5.0 customer ratings with Google, Better Business Bureau, Zillow, Yelp and Facebook.
Buying your first home in Glenwood, Illinois
What to Expect
A great question to ask yourself is, am I confident in my Mortgage Broker? You already picked out your Glenwood, IL home, or maybe you plan on buying in the future. On your initial contact your Mortgage Broker will acknowledge your current situation, analyze and explain what options are best for you. Credit scores, income, job history, loan programs, mortgage payment and rates are a few things that will be discussed. Don’t worry our licensed Mortgage Brokers will go at your pace and thoroughly explain everything.
When can I shop for a Glenwood, Illinois home?
Once your friendly Mortgage Broker gives you a pre-approval you will be able to shop for your dream home. Our pre-approval process takes under 10 minutes. Your pre-approval lets Real Estate agents and sellers know you are a serious and can afford to buy. Don’t have a Real Estate agent but would like one? Just ask we can refer you one. A Real Estate agent will be able to assist in finding the right home at the right price.
When can I close on my Glenwood, Illinois home?
FAST! that is the goal for all of our clients. Every scenario is different, knowing this our Mortgage Brokers and support staff are available for support 24 hours a day. You will also have technology at your finger tips, including online applications, secure document uploads and electronic signatures. Taking responsibility early, your mortgage broker will know what documents are needed – gathering what you need and having it ready to submit will move your Glenwood, Illinois mortgage along quickly. Estimated closing times are available on our home page.
Why clients are choosing Smart Mortgage Centers
- No application fee
- Lower rates
- More Programs
- Excellent Customer Service – Read hundreds of stories
- Complaint Free Awards 5 years running
Get pre-approved now and start shopping for your new Glenwood, Illinois home. Not seeing a loan option? Chances are we have it call 888-882-1058 or start your online application.
Glenwood, IL Mortgage Calculator
Steps to Buying a Glenwood, Illinois Home
Buying your first home doesn’t have to be confusing, follow our steps to a simple home buying experience.
Top Rated Service, Low Rates, No Application Fee and Hundreds of 5 Star Reviews!
Glenwood First Time Homebuyers Get Started Now!
888-882-1058
Glenwood may refer to: