Great Loan Programs for Lakewood Prairie Buyers

Anyone who pays attention to the news has heard that financing can be "hard" to find right now. Now, while that may be true for some...the vast majority of Lakewood Prairie buyers have found some really great financing programs this fall.

If you are a first time buyer(s) with average credit and individual (or combined) income ranging from $40,000 to $90,000...we have three unbelievably good financing and tax savings programs available for you!

#1) The American Dream Program. This program is ideal for first time buyers. It features:

A competitive fixed interest rate
NO reserves required at closing
NO Private Mortgage Insurance (PMI)
Lakewood supplies 3% down and up to 2% towards closing costs
Income restrictions apply

#2) The USDA Guaranteed Rural Housing Program. This program is not restricted to first time buyers. This program features:

30 year fixed rate financing
102% Financing available with financed 2% guarantee fee
No Private Mortgage Insurance (PMI)
Allows 3% Lakewood contribution toward down payment or closing costs.
Income restrictions also apply

#3) The IHDA "I-Loan" Certificate (MCC) Program. This program is available exclusively in our Joliet community.

The I-Loan Certificate (Mortgage Credit Certificate, a.k.a. MCC) allows first-time buyers to receive a dollar for dollar reduction in federal income taxes of 25% of the mortgage interest paid. This reduction is in addition to the standard income tax deduction available when purchasing a home. Keep in mind that the I-Loan certificate is not a loan. It is a tax-credit for first time buyers.

If you would like more information on any of these programs please email Richard Bridges at richard@lakewoodhomes.net or call us at (815) 439-5777. These programs are available for a limited time. They will not be available too much longer so be sure to find out if you qualify!