Find Home Buyer Grant Options in Hanover, IL
Hanover, IL Home Grants
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Grant Benefits in Hanover, Illinois
INSTANT EQUITY Through the Smart Mortgage Centers Grant Programs, you keep your money in your pocket. This means instant equity in the home you just bought.
NO SECOND LIENS We believe in a head start, not starting you behind. A majority of Smart Mortgage Centers grant programs are 100% Grant funds. This means no 2nd lien/mortgage on you.
100% FINANCED GRANTS Typical down payment assistance programs that most lenders offer require a 2nd lien in order to provide you with the funds. Our funds are 2nd Lien free, and completely 100% grant funds. This means no repayment by you.
Grant Options in Hanover, Illinois
Conventional Grant Programs
- Conventional Loan Product
- Underlying 1st Mortgage, Fannie Mae HomeReady®, 30-year Fixed Rate*
- 1st Time Homebuyer requirement
- 3% down- Provided in Full by Eagle Connect Fund
- 1-Unit Single Family Primary Residence: Including Eligiblee condos, co-ops and PUDs
- Reduced MI to 25%
- Non-occupant Co-Borrowers/Co-signers may be permissible
- Up to 100% of AMI
- No income limit in low income census tracts
- Cash Back to Borrower: Refund of borrower’s earnest deposit money
- 640 Credit score to qualify
- 680 Credit score may get even better pricing
FHA Grant Programs (Most Popular)
- 580 Credit Score Required
- Grant is completely forgiven – no repayment required!
- Grant can be used for down payment
- 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.
Smart Advantage Program
The DPA Advantage Program contains a wide-array of options that will meet your borrower’s needs. The program features include, but are not limited to:
- One program used for all types of borrowers, with the same qualifications
- Completely forgivable grant, equals 2% of purchase price
- May be combined with up to 6% seller concession for closing costs
- No resale restrictions
- No borrower repayment restriction option available
This program offers a set of flexible qualification criteria. Do you have a borrower that fits into any of the categories below? They may be eligible for the Smart Advantage Program.
- Total borrowers income is equal or less than 140% of median area income, or;
- First-time home buyers, or;
- Any borrower on the loan application who is a current, retired, volunteer or non-paid:
- first-responder (police officer, firefighter, public safety officer, paramedic, emergency medical technician (EMT), including volunteers or similar);
- educator;
- medical personnel (nurse, doctor, phlebotomists, health ambassador, or hospital, American Red Cross worker, or similar);
- civil servant in a federal, state or local municipality; or
- military personnel
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Mortgage Consultants
We have a highly trained professional mortgage team. Have confidence knowing our team specializes in each grant program available in Hanover, IL.
Excellent Support
We offer 24/7 support services for all your needs. Call the Hanover, Illinois home buyer grant line at (888)416-0920.
About Us
When it comes to home buyer grants, Smart Mortgage Centers is the most trusted name in Hanover, Illinois. Our clients in Hanover look to us because our Loan Consultants have many years of professional experience in the mortgage industry. We always go out of our way to make our clients happy and fully satisfied.
How We Work
Start the Pre-Qualification Process
We offer Free Quotes and no application fee. Contact us today for a FREE home buyer grant consultation.
Online Home Grant Application
Online applications, secure document uploads and electronic signatures will get you to the closing table hassle free and in no time.
Fast Closings
Our goal is to get you into a new home fast! Gather your documents and prepare for a house warming party.
Come find us – we are always available!
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Testimonials
Hanover or Hannover (/ˈhænoʊvər, -nə-/; German: Hannover [haˈnoːfɐ] (listen); Low German: Hannober) is the capital and largest city of the German federal state of Lower Saxony, and its 535,061 (2017) inhabitants make it the thirteenth largest city of Germany, as well as the third-largest city of Northern Germany after Hamburg and Bremen. The city lies at the confluence of the River Leine (progression: Aller→ Weser→ North Sea) and its tributary Ihme, in the south of the North German Plain, and is the largest city of the Hannover–Braunschweig–Göttingen–Wolfsburg Metropolitan Region. It is the fifth-largest city in the Low German dialect area after Hamburg, Dortmund, Essen, and Bremen.
Before it became the capital of Lower Saxony in 1946, Hanover was the capital of the Principality of Calenberg (1636-1692), the Electorate of Brunswick-Lüneburg (1692-1814), the Kingdom of Hanover (1814-1866), the Province of Hanover of the Kingdom of Prussia (1868-1918), the Province of Hanover of the Free State of Prussia (1918-1946), and of the State of Hanover (1946). From 1714 to 1837, Hanover was by personal union the family seat of the Hanoverian Kings of the United Kingdom of Great Britain and Ireland, under their title of the dukes of Brunswick-Lüneburg (later described as the Elector of Hanover).