Why Realtors See Renovation Loans As a Bad Thing But Are They ?

As a Chicago 203k lender I hear often from Realtors when I speak to them about FHA 203K renovation loans and other types of rehab loans  that they don’t like them and will not suggest them to their buyer clients. Now I understand that Realtors do want to make money and have their transactions close as soon as possible. I … Read More

How a 95% Efficient Furnace qualifies for both PowerSaver & Utility dollars

In Chicago and the rest of  Illinois with renovation PowerSaver grant all a 203K buyer needs is to do 3500.00 of energy efficient updates as part of renovation. Recently a borrower used a 95% efficient furnace to qualify for the grant which is given as a credit at closing of the 203k renovation loan. In addition both Peoples Gas and NICOR … Read More