Aurora’s inventory has crept up to a 3.2-month supply—still a seller’s market but looser than the 1.8-month crunch of 2021. Three-bedroom detached homes in 60504 and 60502 are selling in 17 days on average, while larger four-bedrooms north of I-88 linger 29 days, giving buyers leverage to negotiate 1–2% below list. Metra’s BNSF line keeps commuter demand strong; weekday ridership from Aurora to Chicago is back to 92% of 2019 levels, supporting price floors in walk-to-station neighborhoods like Near West and Tanner Historic.

• Median Sale Price (April 2024): $258,750, up 4.1% YoY
• Average Days on Market: 19 city-wide, 12 for sub-$250K starter homes
• Price per Square Foot: $139, still $31 below Naperville

Cash offers represent only 11% of transactions, so financed buyers compete well when they present NMHL’s fully underwritten pre-approval rather than a simple pre-qual letter.

Pigeon Hill & Near West
Bungalows and Queen Anne Victorians built 1890–1930. Walkable to the Aurora Transportation Center (36-min express to Union Station). $230–$275K price band; expect vintage plumbing, so budget for FHA 203k or NMHL’s HomeStyle renovation loan.

Tanner Trails & Copley
1990s–2000s subdivisions with HOA amenities. Top-rated Wolcott and Young elementary schools push values to $300–$340K, but property-tax rates dip to 1.98% because of TIF districts. NMHL’s conventional 5%-down program keeps PMI under $110/mo on a $320K loan.

Oakhurst & East New York
Still-reviving areas where $190K buys a 1,400-sq-ft ranch. Several homes qualify for USDA at 60506 fringe—0% down, 2.75% rate for eligible buyers. Crime stats have fallen 28% since 2020, and the new Rush Copley healthplex is anchoring commercial growth.

Fox Valley Villages
Condominium clusters priced $150–$190K. Perfect for first-time buyers using IHDA Access Forgivable; HOA covers exterior insurance, so total housing outlay stays under $1,400/mo even at 95% LTV.

Illinois levies property taxes a year in arrears, so your September 2024 payment covers 2023 services. Kane County’s composite rate for Aurora averages 2.10% of assessed value, but effective tax can swing from 1.85% in Blackberry Township to 2.38% inside Aurora city library district. Assessed value is 33.33% of market value, meaning a $260,000 home is assessed at $86,667; multiply by the local composite rate to forecast $1,820 annual tax, or $152 escrowed monthly.

Appeals: File with Kane County Board of Review within 30 days of assessment publication—NMHL clients get free comparable-market analysis templates that helped 68% of 2023 appeals secure reductions. Senior Freeze: If you or a co-borrower turns 65, household income under $65K, the assessed value can be frozen, saving thousands over the life of a 30-year loan.

Illinois Housing Development Authority revamped its suite for 2024, and Aurora buyers can layer benefits:

• Access Forgivable: 4% of loan amount forgivable after 10 years; no recapture if you refinance with NMHL.
• Opening Doors: $6K for down payment plus $1K closing cost; works with FHA, VA, USDA, or 97% conventional.
• Aurora First Place: City-funded $10K zero-interest second lien; forgiven after five owner-occupied years. Income limit 115% AMI—$103,350 for two-person household in 2024.

NMHL layers these with our 1% Down Advantage: borrower brings 1%, we grant 2%, giving 3% equity on day one. On a $260,000 purchase, you close with $2,600 plus about $3,400 for appraisal, inspection, and escrow cushion—under $6,500 total cash. Compare that to the traditional 3.5% FHA plus closing, which would run $12-$13K.

Credit-score sweet spot: IHDA Access allows 640, but NMHL can run credit-decisioning software that simulates score boosts—last quarter 42% of sub-640 applicants reached 640 inside 20 days by paying down revolving balances under 30%.

Bank-Statement Mortgage for Self-Employed
No tax returns needed—use 12 or 24 months of personal/business statements. Available for self-employed buyers in 60505, 60506, 60502, 60503, 60504. Max 90% LTV up to $726K; rates start 1 point above conforming. We averaged 710 credit but can approve down to 580 with 20% down.

Credit-Problem Recovery Path
Recent bankruptcy? FHA allows day-one approval if you re-established credit and 12 months of on-time rent; NMHL Aurora underwriters accept cancelled rent checks or 12 months of Zelle history. Foreclosure? Conventional requires seven years, but our portfolio non-QM product shortens the seasoning to two years with 25% down or 15% if you document 12 months reserves.

Veteran & Military Family Edge
We pay the VA funding fee (2.15%) for any Aurora veteran rated 10% or more service-connected, saving up to $4,900. VA IRRRL streamline refinances close in 17 days on average, keeping your original appraisal—even if Fox Valley values have declined.

Manufactured & Modular Welcome
Aurora’s northside has several land-lease communities where new double-wides trade for $120–$140K. NMHL finances titled manufactured on owned land with as little as 5% down; fixed rates under 7% with 680 score.

1. Day 1: Apply online or in-person at NMHL’s N. Lake Street branch. Upload income docs by 2 pm for same-day pre-approval.
2. Day 2–3: Receive NMHL Platinum Pre-Approval letter with full underwriting sign-off. Shop confidently; Aurora listing agents know we close on time.
3. Day 4–14: Tour homes with your realtor. Focus inspections on galvanized supply lines and clay sewer laterals common in pre-1975 Aurora builds; budget $4–6K if replacement is needed—can roll into 203k or HomeStyle.
4. Day 15: Signed contract. Lock rate; choose 0.125% lender-paid PMI buydown if high-LTV conventional.
5. Day 16–22: Appraisal ordered. Kane County turn-time averages 7 business days. If value comes low, invoke our Appraisal Guarantee—NMHL will recast the loan or pay for a second appraisal.
6. Day 23–27: Conditional approval. Upload any outstanding items (updated paystub, insurance binder). Illinois requires homeowner’s coverage at replacement cost; we shop multiple carriers for best premium.
7. Day 28: Final approval & closing disclosure. You must wait three business days to close per TRID.
8. Day 31: Closing at Kane County Title, 80 S. River Street. Bring driver’s license and cashier’s check or wire. Receive keys—welcome to Aurora!

Timeline can compress to 21 days if appraisal waived (only on conventional <80% LTV) or extended to 45 days if renovation escrow is involved.