Forgivable Home Grants in Anchor Illinois
Home Buyer Grants in Anchor 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 Anchor, 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 Anchor 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.
An anchor is a device, normally made of metal, used to connect a vessel to the bed of a body of water to prevent the craft from drifting due to wind or current. The word derives from Latin ancora, which itself comes from the Greek ἄγκυρα (ankura).[1][2]