Since 1934, the Federal Housing Administration (FHA), which is a part of the Department of Housing and Urban Development (HUD), has been helping people achieve the dream of homeownership. By offering mortgage insurance that protects lenders in the case of default, having less strict qualifications, and assisting with down payments and closing costs, the FHA […] Read More

If you own a home in the City of Chicago, you’re already familiar with the high cost of living that comes with it. Finding ways to save money is always on the mind, but you need to remember that there are some costs associated with refinancing.  Here at Neighborhood Loans, we’ve streamlined the Refinance process […] Read More

Buying a home within the walls of Chicago can be difficult, most residents rent, and the price of property tends to be on the higher side. While difficult, it’s not impossible if you’re properly prepared to purchase a home. Thankfully, there are a handful of great mortgage programs available in Illinois that offer assistance to […] Read More

Millennials are in the prime of their life and starting to purchase their first homes. It’s no surprise they might some extra help with the potential of student loan debt lingering. Usually, the most expensive part of buying a home is the down payment, and if you want your child to move out of your […] Read More

When future homeowners apply for a loan, they look for affordability, flexibility, and consistency. This is why many people look to use a fixed-rate mortgage. It is the most common type of home loan because monthly payments, interest, and principal remain the same throughout the entire loan. In contrast to an adjusted rate mortgage (ARM), […] Read More