If you’re a first-time homebuyer, there are loan options and down payment assistance that make homeownership more affordable than ever.
Attend our free, no-obligation webinar for expert advice from Andrea Bonnie Routen, Coldwell Banker Realty, and our very own Mary Carlson, Loan Officer. You’ll receive information about:
Plus! All webinar attendees will be entered into a drawing for a $100 Visa® e-gift card*!
Questions? Call 773.570.1024
NMLS#787575
*There will be a drawing on July 17, 2021 for one (1) $100 Visa® e-gift card. Odds of winning will depend on the number of eligible enrollments received. To qualify for the $100 Visa® e-Gift Card offer, you must register and join the webinar on 7/17/21 at 10:30 am. No purchase necessary. Winner need not be present to win. Winner must be an Illinois resident 18 years or older. Liberty Bank employees and their immediate families are not eligible.
**Up to $10,000 off down payment & closing cost requirements:
Liberty’s Closing Cost & Down Payment Grant of $4,000, must be used with a Fannie Mae HomeReady® fixed-rate loan, term up to 30 years. All borrowers must not have owned a property in the last three years. Property must be located in a majority-minority census tract. For purchase of an owner-occupied single-unit property (including Condo or PUD). LTV 80.01-97%. Borrower must qualify for Fannie Mae’s HomeReady program including income requirements. Minimum FICO score of 620. 3% down payment – no minimum borrower contribution, flexible source of funds. Cancellable Private Mortgage Insurance (restrictions apply), lower MI coverage compared with other products. Homeownership counseling required for at least one borrower, includes online option. Funds are limited and cannot be reserved until a completed application is made along with a fully executed sales contract.
The HomeReady product can be used with a 30, 20, 15 or 10 year fixed rate term. Maximum loan amount of $548,250. Lock Period 60 days. Sample Repayment Terms: the terms of repayment for a 30 year fixed rate confirming loan of $165,000 for a one unit owner occupied residence are 360 payments at $696.55 with a 3.250% Interest Rate and Annual Percentage Rate (APR) of 3.373%, effective as of June 18, 2021. This rate includes 0 points. The payments do not include amounts for taxes and insurance premiums which will increase the actual payment obligation. Private Mortgage Insurance (PMI) is required, although may be canceled over time. The APR on your specific loan may differ from the sample provided. No FHA loans. This rate is subject to change at any time by Liberty Bank and is not valid with any other offer. NMLS#787575.
Downpayment Plus is a program offering up to $6,000 from the Federal Home Loan Bank of Chicago. Restrictions apply. Please see the Federal Home Loan Bank of Chicago’s website at www.fhlbc.com for complete requirements. “Downpayment Plus” is a registered trademark of Federal Home Loan Bank of Chicago.
