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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

NLS lends in neighborhoods throughout the City of Chicago and South Suburban Cook County. Income and other eligibility restrictions apply. Rates and terms are subject to change without notice.