Buying a Short Sale Home using an FHA 203K Streamline or Homestyle Renovation Loan In today’s market there are many homes for sale that are listed as a “short … Read More
The Other Renovation Loan : Homestyle
The question is asked, what other loans are there for repairs to a home or renovation besides an FHA 203K or as an alternative to FHA 203K ? Is there … Read More
What Documents Are Needed to Apply for a Mortgage ?
I’m often asked what information and documents are needed to apply for and approve any type of mortgage loan. While that can vary depending upon if an applicant is self-employed, … Read More
How to pay Private Mortgage Insurance PMI entirely off when buying a home
How to pay Private Mortgage Insurance PMI entirely at closing when buying a new home The answer is Yes you can pay off all PMI once at closing day with … Read More
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 … 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 … Read More
How to Pay a Short Sale Negotiator Fee at Closing
Paying the short sale negotiator at closing on a short sale can be done via a Seller credit. The Seller provides a credit to the Buyer on the contract. There … Read More
New Mortage Options For Condos
The Private Mortgage Insurance companies are slowly starting to open up. They now will allow 3% down or 97% loans again with PMI in the Chicago area MSA.. That is … Read More
FHA Loans – Basic Requirements
FHA loans are the easiest type of real estate mortgage loan to qualify for. The FHA loan requirement guidelines for loan qualification are the most flexible of all mortgage loans … Read More