Buy in East Hazel Crest, IL with No Money Down!
“Unlock the Power of USDA Mortgages with Smart Mortgage!”
East Hazel Crest, IL USDA Home Loan Guide
What is a East Hazel Crest, IL USDA Mortgage?
Welcome to the Smart Mortgage guide on USDA Mortgages. Navigating the home financing world can be a daunting task, but understanding the various mortgage options available can significantly streamline the process. One such option that you might not be familiar with is the East Hazel Crest, IL USDA mortgage. Let’s dive in.
1. Overview
A USDA mortgage, formally known as the USDA Rural Development Guaranteed Housing Loan, is a mortgage loan offered to rural property owners by the United States Department of Agriculture (USDA). Designed primarily to promote Illinois homeownership in rural and some suburban areas, the East Hazel Crest USDA loan comes with a range of benefits that make it a viable option for eligible homebuyers.
2. Key Features
- No Down Payment: One of the standout features of a USDA loan in East Hazel Crest, IL is the possibility of financing up to 100% of the home’s price. This means eligible borrowers can buy a Illinois home with no down payment.
- Competitive Interest Rates: Typically, USDA loans come with interest rates that are either at or below the market rate.
- Flexible Credit Guidelines: USDA loans often have more lenient credit requirements, which can be beneficial for those with a less than perfect credit history.
East Hazel Crest FL USDA Loan Questions Call (888)416-4805
Get Pre-Approved Now
Get cash from your home.
Apply to see how a cash out refinance can help you.
Homebuyer Seminars
Discover the keys to homeownership at our local home buying seminar – your first step towards securing your dream home!
See our home loans.
Explore our diverse range of home loan programs tailored to fit your unique needs!
3. Eligibility Criteria
To be eligible for a East Hazel Crest, IL USDA mortgage, borrowers must meet certain requirements:
- Location: The East Hazel Crest, IL property must be located in an eligible rural or certain suburban area as defined by the USDA.
- Income Limits: There are specific income requirements, both minimum and maximum, based on the median income of the area.
- Creditworthiness: While the USDA is generally more lenient with credit scores, a certain credit standard must still be met.
- Primary Residence: The borrower must occupy the home as their primary residence.
4. Benefits of a USDA Mortgage
- Affordability: With no down payment and the potential for lower mortgage insurance premiums, a East Hazel Crest, IL USDA loan can be more affordable in the long run.
- Inclusive: It’s a great option for East Hazel Crest, IL first-time homebuyers or those without a substantial savings for a down payment.
- Supporting Rural Development: By opting for a USDA mortgage, you’re indirectly supporting the development and sustainability of rural communities.
5. How Smart Mortgage Can Help
Navigating the intricacies of USDA mortgages can be challenging. That’s where Smart Mortgage steps in. Our team of seasoned USDA mortgage professionals is here to guide you through every step, ensuring you make informed decisions tailored to your needs. Whether you have questions about your eligibility or the application process, we’re here to help.
Take the Next Step Interested in exploring if a East Hazel Crest, IL USDA mortgage is right for you? Get in touch with our Smart Mortgage team today at (888)416-4805. We’re committed to helping you find the best mortgage solution for your unique situation.
Do you need a Pre-Approval?
We are here to help! Get a same day East Hazel Crest, Illinois USDA pre-approval to shop for your dream home!
Mortgage Resource Center
USDA Loans in Illinois: Benefits, Eligibility, and Popular Cities
Buying a home is a significant milestone, and for many, finding the right loan program makes all the difference. If you're considering Read more
Barndominium Financing Made Easy with iLoanUSDA
Barndominium Financing Made Easy with iLoanUSDA: Your One-Time Construction Loan Solution Barndominiums, the stylish and practical combination Read moreMore information About East Hazel Crest, Illinois
East Hazel Crest is a village in Cook County, Illinois, in the United States. It is a south suburb of Chicago. As of the 2020 census, the village population was 1,297.
East Hazel Crest was a part of Hazel Crest when it incorporated in 1911 until the Illinois Central Railroad elevated their commuter and mainline tracks above grade, isolating the rural community from the rest of Hazel Crest. The community voted for incorporation into their own village in 1918. The village later annexed a small commercial area and residential subdivision, Bremerton Woods, that lies west of the Illinois Central Railroad where the village administration and Metra station now stand.
East Hazel Crest is located at 41°34′35″N 87°39′8″W / 41.57639°N 87.65222°W / 41.57639; -87.65222 (41.576384, -87.652171).
According to the 2021 census gazetteer files, East Hazel Crest has a total area of 0.78 square miles (2.02 km2), all land.
As of the 2020 census there were 1,297 people, 575 households, and 356 families residing in the village. The population density was 1,654.34 inhabitants per square mile (638.74/km2). There were 630 housing units at an average density of 803.57 per square mile (310.26/km2). The racial makeup of the village was 57.98% African American, 25.60% White, 0.23% Native American, 0.31% Asian, 0.00% Pacific Islander, 7.09% from other races, and 8.79% from two or more races. Hispanic or Latino of any race were 16.11% of the population.
We Service the Following Locations in Florida
