The Downpayment Plus Program is used to help with closing costs as well as lowering the total amount borrowed. By increasing the initial down payment, buyers not only mitigate closing expenses but also potentially decrease their monthly mortgage payments.
The Downpayment Plus through the FHLB looks to help bridge this gap for homebuyers. Downpayment Plus is a forgivable grant through the FHLB that gives down-payment and closing cost assistance to homebuyers. The program can help income-eligible Sauk Valley Bank customers make the dream of becoming a homeowner a reality, fosters community growth, and expands home buying options for borrowers.
Downpayment Plus Grant Amounts
Eligible borrowers who qualify for the Downpayment Plus Program could receive up to $10,000 in assistance to be put towards closing costs and a down payment. The goal is to lower your bowering costs through Downpayment Plus, resulting in a lower monthly payment. With this additional cash, you’ll gain increased financial flexibility while still being able to purchase the home of your choice.
Who Is Eligible?
Downpayment Plus Grant amounts are based on location, household size, and household income. To find out how much you could qualify for speak to a mortgage lender today.
How to Get Started with Downpayment Plus
Having a knowledgeable lender who understands the program is essential when it comes to the Downpayment Plus Grant program. You need to work with someone who not only understands the process but will also find you the best borrowing solution possible. At Sauk Valley Bank, our Mortgage Lending Officers specialize in finding the best situation possible for you. We take pride in the fact that we always put you and your best interests first.
To get started today, use the contact information below to reach out to the lender in your town.
Mortgage Lending Officers
