Forgivable Home Grants in Vermilion Illinois
Home Buyer Grants in Vermilion 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 Vermilion, 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 Vermilion 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.
Vermilion (sometimes spelled vermillion[2][3]) is both a brilliant red or scarlet pigment originally made from the powdered mineral cinnabar and the name of the resulting color.[4] It was widely used in the art and decoration of Ancient Rome, in the illuminated manuscripts of the Middle Ages, in the paintings of the Renaissance, as sindoor in India, and in the art and lacquerware of China.[5][6]
The word vermilion came from the Old French word vermeillon, which was derived from vermeil, from the Latin vermiculus, the diminutive of the Latin word vermis, or worm. It has the same origin as the English word vermin.[4] The name originated because it had a similar color to the natural red dye made from an insect, the Kermes vermilio, which was widely used in Europe.[7] The words for the color in Portuguese (vermelho), Galician (vermello) and Catalan (vermell) have the same origin. The first recorded use of vermilion as a color name in English was in 1289.[8][9] The term cinnabar was used interchangeably with vermilion until the 17th century, when vermilion became the more common name. By the late 18th century ‘cinnabar’ applied to the unground natural mineral only.[citation needed]