Forgivable Home Grants in South Elgin Illinois
Home Buyer Grants in South Elgin 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 South Elgin, 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 South Elgin 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.
South Elgin is a village in Kane County, Illinois, United States. The population was 21,985 at the 2010 census, and estimated to be 23,00 as of 2017. In 2007, Money magazine named South Elgin as 82nd of 100 entries in its “America’s Best Places To Live” edition and again in 2011 as 98th of 100 entries.
South Elgin was originally called Clintonville, in honor of early settler James Clinton.[3] The name South Elgin was adopted in 1907.[3]