Forgivable Home Grants in The Galena Territory Illinois
Home Buyer Grants in The Galena Territory 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 The Galena Territory, 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 The Galena Territory 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.
The Galena Territory is a census-designated place in Jo Daviess County, Illinois, United States. Its population was 1,058 as of the 2010 census.[1] The community consists of a private 6,800-acre (28 km2) development located several miles southeast of downtown Galena.[3] The Territory, which is managed by a homeowners association, has set aside 1,500 acres (6.1 km2) of protected recreational land.[4][5] The remainder is filled with low-density residential development and Eagle Ridge Resort & Spa. As of August 2017, there were 4,082 property owners, 554 permanent residences, and 1,675 vacation residences.[6]