Grants for Home Buyers
And we have found yet another one of the grants for home buyers “out there”. The First Neighbor Bank announced that it is participating in a statewide affordable housing program known as Downpayment Plus. This program focuses on providing financial assistance to qualified low-income home buyers in Illinois needing help meeting down payment requirements and closing costs associated with buying a home.
To qualify for the program, the applicant’s annual household income must be 80 percent or less than the area median family income, adjusted for family size. For example, to qualify, the annual household income of a family of four in Coles County cannot exceed $45,100.
A qualified household is eligible to receive up to a $4,000 grant to purchase an owner-occupied one or two family home. A home buyer must make a cash contribution of at least $750. First Neighbor Bank will apply for the grants on behalf of its borrowers. Borrowers may not apply for grants directly.
First Neighbor Bank is located at 201 N Meridian St. in Toledo.
Related posts:
- First Time Home Buyer Grants
- Pennsylvania Low-Income Home Energy Assistance Program
- Home Repair Grants in Ohio
- First Time Homebuyer Assistance
- Home Rehab Grants
