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Goshen Realty Group is led by REALTORS Nancy Milton and Kristina Pratt. We are proud to be
RE/MAX Preferred Partners
One 157 Center
Edwardsville, IL 62025
Copyright © Goshen Realty Group, Kristina Pratt & Nancy Milton, 2007-2009. All Rights Reserved.
RE/MAX Preferred Partners
One 157 Center
Edwardsville, IL 62025
Copyright © Goshen Realty Group, Kristina Pratt & Nancy Milton, 2007-2009. All Rights Reserved.
Did you ever wish you could find a Fairy Godmother who would swoop in with her magic with
enough money to cover some of the closing costs and other expenses that it takes to buy a
home?
Sorry to say that there's no Fairy, but there is an amazing program here in Madison County
that can give you a big boost toward owning your own home by granting a portion of your
minimum down payment and closing costs.
The grant is administered by Madison County Community Development and it provides
$5,000 for households at or below 50% of median income, or $3,000 for households at or
below 80% of median income in the form of a forgivable loan.
To be eligible for the grant, applicants must fall within the income guidelines, have one year
of clean credit history, two years of steady income and a copy of their most recent pay stub.
The income guidelines are:
HOUSEHOLD SIZE/INCOME
1 -- $38,000
2 -- $43,450
3 -- $48,850
4 -- $54,300
5 -- $58,650
6 -- $63,000
7 -- $67,350
8 -- $71,700
The property being purchased can be an existing or new construction home. It can be a
single-family home or a condo. The program will not help with rental property, manufactured
homes or mobile homes.
The maximum value of the property being purchased cannot be higher than $161,500.
To get started with a lender who can help you with the grant application paperwork and
pre-approve your mortgage loan, contact us.