Hush, all you naysayers who think that low down payment deals helped precipitate the current mess in the housing markets. The Illinois Housing Development Authority‘s SmartMoves program will put you in a home for as little as 1% down – or $1,000, if that’s greater.
And Centex Homes, at sites in Shorewood, Minooka, Elgin, Woodstock, Lombard and more will sweeten the deal with $10,000 in options.
We are getting lots of communications from associates in banking and mortgage lending offering 3%-5% down mortgage products on purchases; condo and single family homes. Theses are available for “regular” purchases of homes (non distressed, non FHA. situations… just “normal”). As with anything, a borrower would have to qualify.