Can someone qualify for more than one down-payment assistance program and combined them like scholarships?

Asked by Arturo, Berwyn, IL Sat Jul 27, 2013

Help the community by answering this question:

+ web reference
Web reference:

Answers

3
Synthia Noble, Agent, New Lenox, IL
Fri Sep 12, 2014
actually, there are some grant programs that you can piggy back to provide the biggest bang for your buck. the challenge is qualifying for all the grants and in finding the right lender. some programs have income limits, some are for particular locations, some are for first time buyers, some for veterans. be sure to find a lender that is knowledgeable and qualified for the different grant programs. check out http://www.ihda.org for info on the state of IL programs. also, check with the city you are considering, for instance Kankakee has a local program; Park Forest you can get up to $10,000 from the building block grants, etc.
0 votes
Hrosas14, Home Buyer, Chicago, IL
Mon Jul 29, 2013
Hilda Rosas Real Estate/Managing Broker

Hi Arturo,
In most cases you would only need assistance from one program because you would receive the necessary funds for down payment and closing cost. You may be required to have one percent from your own funds. It all depends on the program you are applying for. Please feel free to call me for more information. Thank you.


Hilda Rosas/Real Estate Managing Broker
777-485-5480
Chicago, IL
0 votes
Bob Brandt, Agent, Schaumburg, IL
Sat Jul 27, 2013
No, unless they are designed to be used that way.
Pick the one that offers the most and see if your lender can work with it.
Ultimately, your lender will coordinate most of it.
0 votes
Search Advice
Search
Ask our community a question
Home Buying in Cicero Zip Codes

Email me when…

Learn more