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Freddie Mac BorrowSmartSM

Don’t let down payment or closing costs discourage you from achieving your dream of homeownership! Here’s how the Freddie Mac BorrowSmartSM program, brought to you by Neighborhood Lending Services, can help eligible borrowers receive up to $10,000 in assistance.


  • No first-time homebuyer requirement
  • No repayment of assistance funds required
  • May be combined with gift money or other down payment assistance programs
  • Allows for cash reserves post-closing for emergencies, maintenance, energy efficiency improvements, and other costs associated with home purchase
  • Helps first-time homebuyers begin to build generational wealth by owning your own home

How Does it Work?

  • Complete an eligibility assessment to find out if you qualify
  • Receive 1:1 homebuyer counseling from a HUD-certified counselor to review your mortgage-readiness.
  • Make your homeownership dream a reality! Program funds can help you qualify for our mortgages, which offer down payments as low as 3%.


This program is designed to help homebuyers build generational wealth, and it is available throughout the Chicagoland metro area (Illinois only). BorrowSmartSM funds are only available with Neighborhood Lending Services' mortgage loans.