Forgivable Home Grants in Barrington Hills Illinois
Home Buyer Grants in Barrington Hills 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 Barrington Hills, 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 Barrington Hills 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.
Barrington Hills is a village located about 40 miles (64 km) northwest of Chicago in the U.S. state of Illinois. It straddles approximately 29 square miles (75 km2) over four counties, Cook, Kane, Lake, and McHenry. The population was 4,209 at the 2010 census.[4] The Village of Barrington Hills was incorporated in 1957.
The suburban village is included in the greater Barrington area. Many very affluent residents live on large estates and commute to downtown Chicago. A minimum 5-acre (2.0 ha) zoning restriction has been in effect on new construction since 1963, but the existence of equestrian farms antedates the village by decades. Farming and horse raising are allowed.[5]
Barrington Hills includes farms and estates such as Hill ‘N Dale Farms, owned by Richard L. Duchossois, former owner of the Arlington Park racetrack, and the Bank Note Farm. The identification of the area with horses carries over to the names Broncos and Colts for school teams.[5]