Ask Me About the Madison
County Homebuyer's Grant
If you're a resident of Madison County,
Illinois please pay close attention to this
important information. It could save you
thousands of dollars on the purchase of your next home.
Did you ever wish you could find a Fairy Godmother who would swoop in with her magic wand
and make your family's home ownership dreams come true? She would provide you with
enough money to cover some of the closing costs and other expenses that it takes to buy a
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
downpayment 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:
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 me at Send2Nancy@Charter.net or call 618-791-8007.
Goshen Realty Group is led by REALTORS Nancy Milton and Kristina Pratt. We are proud to be affiliated
with RE/MAX Preferred Partners in Edwardsville, IL.
RE/MAX Preferred Partners
One 157 Center
Edwardsville, IL 62025
618-791-8007 Nancy Milton, REALTOR/GRI
618-917-0775 Kristina Pratt, REALTOR/SFR
Copyright © Goshen Realty Group, Kristina Pratt & Nancy Milton, 2007-2009. All Rights Reserved.
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