• 4003 Plainfield Naperville Rd, Naperville, IL 60564
  • (888)999-1350

Conventional Programs

Conventional mortgage programs are available for home buyers with 620 or better credit scores.

  • Can use to buy a primary residence, second home, or rental property.
  • Available in fixed rates, adjustable rates (ARMs) with loan terms from 10 to 30 years.
  • Down payments as low as 3%
  • No monthly private mortgage insurance (PMI) with a down payment of at least 20%
  • Yearly terms from 8 to 30 Years

Check out our 30 year conventional mortgage rates and calculate your payment.

FHA Programs

FHA mortgage programs are available for home buyers with 580 or better credit scores.  Under 580 can still qualify.

  • The house must be your primary residence and must meet the FHA’s minimum property requirements.
  • Available in fixed rates, adjustable rates (ARMs) with loan terms from 8 to 30 years.
  • Down payments as low as 3.5%.
  • Mortgage insurance (PMI) is required with FHA home financing.
  • 10% down payment if your credit score is 500-579.
  • For FHA down Payment Assistance ask about FHA Grants (620 credit score required).

Check out our 30 year FHA mortgage rates and calculate your payment.

VA Programs

VA mortgage programs are available for home buyers with NO minimum credit scores.

  • The house must be your primary residence and must meet the VA’s minimum property requirements.
  • Available in fixed rates, adjustable rates (ARMs) with loan terms from 8 to 30 years.
  • Buy with NO MONEY DOWN!
  • No Mortgage insurance (PMI) is required with VA home financing.
  • No minimum credit score required.

Check out our 30 year VA mortgage rates and calculate your payment.

Jumbo Programs

Jumbo mortgage programs are available for home buyers with 680 or better credit scores.

  • Able to finance higher value properties or luxury homes
  • Allows for the purchase or refinance (rate/term) of owner occupied properties, primary residences, second homes, vacation homes, condominiums and investment properties
  • Cash out refinance transactions are eligible for primary residences only
  • Typically require 20% down payment or more
  • Seller contributions are allowed
  • Available for 10-30 year terms
  • Lower Rates available with our ARM programs

Call today for extremely low jumbo mortgage rates.

USDA Programs

The USDA Home loan is a great choice for borrowers looking to buy a home with NO MONEY DOWN.  When home buyers hear USDA rural they often think of farms or underdeveloped areas.  In most cases you can find USDA eligible properties just outside of major cities.

  • No down payment required
  • 620 Credit Score
  • 550 Credit Score and above can still qualify with exceptions
  • Low 30 year fixed rate
  • Competitive rates (as set by the underwriting lenders)
  • Minimal mortgage insurance required
  • No cash contribution required from borrower
  • Gift Funds Allowed
  • No maximum loan amount (although there are family income limits)
  • No reserves required
  • Can refinance an existing USDA loan to get a better interest rate if available

 

Grant Programs

Do you meet the general criteria for a home loan but lack the down payment?
Because this happens far too often Smart Mortgage Centers has created forgivable grant programs that provide down payment and closing cost assistance for borrowers who would otherwise qualify for a mortgage.
Grants for homebuyers are not limited to first time homebuyers.  In order to qualify for the Grant Program the 1st mortgage will have to be completed by Smart Mortgage Centers.
  •  620 Credit Score Required
  •  Grant is completely forgiven – no repayment required!
  •  Grant can be used for down payment
  •  Seller Credit of 6% is allowed
  •  Gift funds are allowed!
  •  Borrower(s) not required to be First Time Homebuyers.
  •  Income limit is based on qualifying income used for transaction, not household income.

We are standing by to assist with mortgage questions and pre-approvals. Making the dreams of owning a home a reality since 1997.