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Mortgage Options

Neighborhood Lending Services, Inc. (NLS) is an Illinois state-licensed, non-profit mortgage lender that may be able to help you with an affordable, fixed-rate mortgage product that fits your situation. Whether you're purchasing, refinancing, or rehabbing a home, NLS will help identify any down payment and/or closing cost assistance, or grant programs for which you may qualify.

Purchase or Purchase with Rehab

  • Down payments as low as 3%
  • No Private Mortgage Insurance (PMI) required
  • Qualifying is not based solely on credit score
  • NLS assigned Construction Specialist to guide you through the rehab process
  • Allows you to buy a home and roll in repairs into one loan

Refinance or Refinance with Rehab

  • Potentially lower your monthly mortgage payment
  • Allows you to finance major repairs or improvements to your home
  • NLS lends on the “after rehab” appraised value of the home
  • Qualifying borrowers may be eligible for forgivable loans to help with home repairs

Home Improvement Loan

  • Has all the perks of programs listed above
  • Fixed rate loans that can be used for large or small needs (from new roof to correcting electrical problems, etc.)
  • Repayment terms up to 20 years

Promoting Homeownership across Generations:

The Johnson Family

NLS lends in neighborhoods throughout the City of Chicago, Elgin/Northeast Kane County, and south suburban Cook County. Income and other eligibility restrictions apply. Rates and terms are subject to change without notice.