Money for first time home buyers or qualified buyers. Can’t remember
My daughter and her new husband are getting ready to look for a home. Awhile ago I heard you on WGN talking about money for first time home buyers who bought in certain areas. Money was available until it ran out. Has it run out? Is the program still available? If so, where can we get more information on this program. Thank you for your time.
Terry Says
The specific program I mentioned last fall has ended. It was a bank that was required to make good on some previous problems by doing "community service", which consisted of a great mortgage deal. But there are plenty of programs available to first time home buyers if they qualify based on income and the price of the home. I think you must be in Illinois, so check into the Illinois "At Home" mortgage program. There are income limits, and limits on the price of the home, to qualify -- but the minimum down payment is only $1,000. You'll find that some of the major mortgage lenders can also put you in touch with special programs that exist for your situation. Go to www.GuaranteedRate.com or QuickenLoans.com to search for any available deals. And don't forget that if either of them served in the military, the might qualify for the best deal of all -- a VA loan, with low rate and low down payment.
