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Real Estate >> Buying a Home & Selling a Home >> Buying a Home - Down Payment Assistance?
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| Discussion: Buying a Home - Down Payment Assistance? | - |
Mel (Offline)
UNITED STATES |
| Joined 25 May 2022 9:59 am
2 posts
Unrated |
So I am in need of some help from someone knowledgeable. Here's my situation first. My husband is a teacher and a am a stay-at-home mom with my 2 year old son who receives therapy as often as 2-3 times a week (which would make it hard if I wanted to go back to work or to put him into daycare, but I want to stay home with him anyway). Anyway, with being a single income it makes it hard to financial do things. Like per say, buy a house. Especially where we live, the northern suburbs of Chicago. We were prearroved for $170,000 (or a loan amount of $140,000 and a down payment of at least $30,000). We currently live in a 2 bedroom town home in a very high taxed neighborhood (almost $6000) and we need more room, which is why we want to move. But we can't find anything in our price range. (And we don't have much equity to work with either)
So this is where the "Down Payment Assistance" question comes in. I've heard of non-profit organizations that offer grants for new and old home buyers and lower incomes. However there are fees and the buyer has to be willing to give a donation from the profits that they made from the sale they made from their house. I don't know many people willing to do that for someone they don't know.
Anyway, I've also heard of villages giving grants for the same reasons. Is this true and can someone give me more information?
We live in Grayslake, Illinois.
Thanks,
Mel
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| Joined 26 Jan 2022 1:01 pm
136 posts
9.6/10 Rating |
Dear Mel
Unfortunately many people find themselves in your shoes on today’s real estate market. Before you decide where to turn for financial help, we would like to bring to your attention an article "The TRUTH About Those Government Grant Programs You See Advertised All Over the Internet" at http://www.the-truth-exposed.com/grants/begin.php
Please read this article before you make this major financial move.
Please note that we are not affiliated with the author of the article and the website noted above. We provide this link for informational purpose only.
Best regards,
Customer Support
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Mel (Offline)
UNITED STATES |
| Joined 25 May 2022 9:59 am
2 posts
Unrated |
There's a nonprofit organization out there called "Newsong" that gives away down payment grants. I wasn't talking about the scams out there.
This is what I meant: http://www.buyers-assistance.com/index.html
However, there is a buyers fee of $250 and the buyer has to donate some of the profits of the sale of their house to the foundation and I just don't see many people doing that.
So I was asking if anyone knew of or heard of of villages/towns giving away grants for people in my situation. Because I do not want to have to buy a book that has over 1,000 listings of grants unless I know for sure its going to help me.
Thanks...
Mel - melsbox25@hotmail.com
Please visit this site if you're in the same boat: www.housingillinois.org
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