Home Purchase or Purchase with Rehab Loans

Congratulations for taking the first step towards successful homeownership!

Neighborhood Lending Services, Inc. (NLS) can help you purchase a home the right way. We help you identify the most affordable mortgage products for your situation, including any downpayment and/or closing cost assistance or other grant programs for which you may qualify. Income limits and eligibility requirements apply.

Education is key to helping homebuyers understand the pros and cons of homeownership. Before securing a loan through NLS, we require that you attend our free Homeownership Education program which includes classroom and individual consultation with NHS of Chicago Homeownership Consultants. NHS is a HUD-certified housing counseling agency and a charter member of NeighborWorks America.

Please keep the following in mind:

• All properties must be occupied by the buyer as their principal residence.
• All of our loans require a downpayment of at least 3% for a single-family home and 5% for a 2-unit property.
• Borrowers purchasing a 2-unit building are required to attend a landlord training class.
• Income and eligibility requirements apply. 

Purchase with Rehab Loans

For a Purchase/Rehab loan, NLS will lend on the “After Rehab” appraised value of the home. Licensed, insured contractors must perform all rehabilitation work financed with NLS loans. As an added benefit, an NHS Construction Specialist will be assigned to your project to guide you through the construction process. LEARN MORE…

Homes for Sale/Rent

Through the NHS Redevelopment Corporation, we also offer high-quality rehabbed and newly-built homes for sale/rent throughout Chicago. LEARN MORE…