Ownership touted over renting at Timber Oaks

Kipling Homes and Wells Fargo Home Mortgage are helping buyers get off the rental treadmill and into ownership of a new condominium at Timber Oaks, a neighborhood of 219 brick condominiums and courtyard townhomes on the far west side of southwest suburban Joliet.

"The Federal Housing Administration (FHA) program is through Wells Fargo Home Mortgage, the exclusive lender for Timber Oaks," said Erin Stoddard, sales manager for the development. "This special government insured loan program allows for the down payment to be covered and a qualified buyer would have no down payment."

For example, buyers can purchase the Chestnut condominium plan which is available for immediate delivery for $146,650 at Timber Oaks.

"By using this Wells Fargo FHA program, which is a bond assisted program through the City of Joliet, a buyer can purchase the Chestnut and lock into a 6.5 percent 30-year fixed rate mortgage (rates subject to change), with no money down," said Stoddard.

"Then the buyer's monthly principal and interest payment would be approximately $899.12 (not including taxes, insurance and monthly assessment)."

"This is really a great program for all types of buyers with absolutely no money down through Joliet's Assist Bond Program that grants them the down payment and Kipling Homes pays closing costs up to $3,000," said Kathy Dames-Mattox, vice president of Kipling Homes, the developer. "Buyers also receive their earnest money back at closing."

The award-winning condominium and courtyard homes at Timber Oaks are one of the developer's most successful selling floor plans, offering well-designed floor plan layouts at affordable prices."

The brick condominium buildings feature gabled roofs, recessed balconies, covered patios and second-floor sundecks.

Condominium home plans range in size from 807 to 1,259 square feet with one to two bedrooms and one to two baths. The condominiums range from $118,900 to $158,900.

Timber Oaks townhomes feel like single-family homes without the maintenance. The courtyard townhomes have two to four bedrooms, one to three baths, and oversized two- and three-car garages. They range in size from 1,115 to 1,664 square feet of living space and are priced from $169,900 to $204,900.

Located near Frontage and McDonough roads, the residences at Timber Oaks offer innovative interior layouts as well as exceptional exterior accents.

"Timber Oaks offers home buyers the best of both worlds ... a lifestyle community with the latest architectural accents in two distinct multi-family product lines," said Dames-Mattox.

"Although affordably priced, these condominium and courtyard homes feature well thought out floor-plan layouts which maximize living space," she said. "The first residents have already moved in."

Several of these exceptional homes at Timber Oaks back-up to green space and meadow vistas, as well as groves of aging oak and pine trees as well as ponds, offering scenic views, Dames-Mattox said.

There is also a playground overlooking a scenic lake. The entryway to the community has a signature brick clock tower.

"The unique floor plans are designed to accommodate a maintenance-free lifestyle so today's busy young buyers have more free-time to enjoy all the amenities the community has to offer," she said.

Located within the Joliet Park District, Timber Oaks residents also have access to plenty of additional leisure attractions such as the multi-million dollar Joliet Park District facilities and programs.

In addition, residents have access to the Will County Forest Preserve walking and biking nature trail system.

"Being near the Rock Run Greenway is a great asset to nature lovers who live in the Joliet community," Dames-Mattox said.

Golf enthusiasts who live at Timber Oaks also have a choice of more than three Joliet Park District public, 18 hole courses including Inwood, Wedgewood and Woodruff. Reduced rates are available for Joliet Park District members. Kipling Homes