Advance Payment Assistance & Homebuyer Education
The Equitable Bank participates in many deposit support programs that assist income-eligible purchasers receive funds that assist with down closing and payment expenses.
- FHLBC DPP Grant up to $6000
- Residence Consortium DPA up to $5000
We make use of many area community teams to present homebuyer training, that will be needed for many advance payment help programs.
Credit Builder Loan System
The Credit Builder Loan through the Equitable Bank was created to assist you aren’t no credit or with credit problems to re-establish credit history that is positive. Additionally it is an excellent selection for those seeking to preserving for a big purchase or even a advance payment for a brand new home.
So how exactly does it work?
We shall provide you a group amount of cash ($500 or even more, centered on your situation that is financial put in an interest-earning certification of deposit (CD) in your title. Each you pay back the amount of the loan plus interest month. We are accountable to the credit bureau the manner in which you handle your loan re payments every month. You will build a positive credit rating, all while saving money for yourself if you make your monthly payments on time. Continue reading