Smart Move mortgage Products

            Smart Moves Mortgage Products offer affordable interest rates and down payment assistance for borrowers of low to moderate income. The program is ideal for borrowers who need extra flexibility on sources of income or who have limited funds for down payment and/or closing costs. This program is offered exclusively through the Illinois Housing development Authority. 

                 Features:  

• Offers up to 6,000 in down payment and closing cost   assistance as a 10-year 0-percent forgivable loan. 
• Maximum LTVs from 96.5 to 100 percent.
• FHA/VA/USDA and conventional insured products available.
• Fixed rate with terms up to 30 years.
• Reduced mortgage insurance requirements on conventional loan programs.          

                         Qualifications:

• Minimum credit score requirement: 620 FHA/VA/USDA, 660 (conventional loans).
• Maximum total debt (back end) ratio of 45 percent
• Buyer must contribute 1 percent or 1,000 of the purchase price, whichever is greater.
• First-time homebuyer or qualified exemption.
• Household income and purchase price limits apply.
• Homeownership counseling is required       

                 For more information go to: www.ihda.org

                or call me @ 773-573-9798

      " This is a great time to buy, I would be  more then happy to help you, with any questions or concerns regarding the purchase of your home"