I’m talking with one of my preferred lenders today to talk about down payment assistance Illinois and I’m starting right now. If this is your first time visiting my website my name is Kerri Jonikas and I’m a Realtor in Chicago southwest suburbs. Please consider subscribing to my blog to be notified of any new content that I post. I post new content every Monday and I wouldn’t want you to miss out. I’m here today with one of my preferred lenders, Tony and we are talking about down payment assistance Illinois.
Tony: A lot of buyers want to know about down payment assistance in Illinois. Buyers always come in asking do you have any grant programs, and the answer is yes we
do. It’s called the IHDA program. There’s about 4 to 5 different programs all have different terms and really it can accomplish different things. The main requirements for these is a minimum credit score of 640. So you need to make sure your credits in decent shape and you also need to contribute 1% of the purchase price to the deal. So you can’t walk in and get it zero money down full grant loan, you know every situation is different. Sometimes you know maybe the IHDA program is not the way to go but in other instances it’s a great program so it really comes down to always making
sure you have that conversation with me or any lender and really come to the conclusion and see whether or not that is the best deal for you.
Kerri: (THAT’S ME;) So are there some other ways that buyers can obtain down payment assistance without using the grant programs or what other programs may be beneficial to buyers?
Tony: Absolutely on top of the IHDA program we do also offer other niche down payment assistance programs rather than going into them like I said they’re very niche so it would be best to reach out to me have a quick 10-15 minute conversation and see if that programs for you. On top of that there’s also the ability to get gift funds. I can’t tell you how many times would get someone that comes they have the ability to get a gift but maybe they feel guilty that they’re asking for maybe the family members help or the just don’t know that that’s possible and nearly in all instances that is a better alternative than going with the program and give funds they have to come from a family member you know parents, brothers, sister, and uncle, grandma, grandpa. But at the end of the day that’s a great way to get your down payment if you’re not able to come up with the funds or if you have that gift option it’s just another way to keep money in the bank so that you can maybe add something to your home or save it for a rainy day.
Kerri: (THAT’S ME) Sounds like some great options for down payment assistance.
Tony: Absolutely, absolutely.
Kerri: (THAT’S ME) If you would like more information about down payment assistance contact me and I can connect you with Tony who can give you all the information you will need.
Tony: Absolutely and you can feel free to reach out to me at any time, always available to take calls whether it’s the weekend, evenings, morning’s, feel free to reach out. We’ll have a 15-minute
conversation and we’ll get your questions answered.
Thanks so much for stopping by and I hope to see you next week!