Home Buying in Chicago : Real Estate Advice

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Bethmcfadd, Home Buyer in Chicago, IL
Bethmcfadd answered:
Is it possible to use unemployment as a income for a home?
The appraised value of my house is $625,000.00 and the balance on my mortgage is $378,00.00 and I need a cash out to P/O personal loans and credit cards. Would I be able to refi my Firs ... more
0 votes Share Flag Wed Jul 27, 2016 Home Buying in Chicago
Cathryn Brow…, Real Estate Pro in Chicago, IL
Cathryn Browne answered:
Looking for a good independent broker who is well versed in working with FHA loans. I'm a first time home buyer. Located in South Suburbs of Chicago,
Hi Andie, if you haven't already found someone, please contact http://gustancho.com
0 votes Share Flag Mon Jul 18, 2016 Home Buying in Chicago
Cathryn Brow…, Real Estate Pro in Chicago, IL
Cathryn Browne answered:
Home lender is letting me assume the mortage on my deceased moms home. Best way to do it has a 9.5% interest and needs repairs that I would like to do
I think the 203K loan will give you the most flexibility. Definitely speak to your accountant though about any and all tax benefits to assuming the 9.5% mortgage.
0 votes Share Flag Mon Jul 18, 2016 Home Buying in 60620
Cathryn Brow…, Real Estate Pro in Chicago, IL
Cathryn Browne answered:
Primary vs Secondary residence if we are buying within 3 months but not moving until later in the year?
If the goal is to be in the property and if it will be your primary residence soon, then you should state it as such. Speak with a lender about your situation. I'm sure there are option ... more
0 votes Share Flag Mon Jul 18, 2016 Home Buying in Chicago
Cathryn Brow…, Real Estate Pro in Chicago, IL
Cathryn Browne answered:
Can charging the closing costs change your credit score and cancel the purchase of a house?
You'd be better off rolling the closing costs into the mortgage. Interest rate will be much lower than a credit card. Talk to your realtor and lender about this. Typically you are allow ... more
0 votes Share Flag Mon Jul 18, 2016 Home Buying in Chicago
Cathryn Brow…, Real Estate Pro in Chicago, IL
Cathryn Browne answered:
Can a 766 credit score get me a pre-approved for a mortgage loan and possibly low monthly payment?
Hi Bobby, you should talk to a lender but here's an easy calculation. For every $100K you borrow, you add $500/mo to your mortgage. To that, you will likely have to escrow for property ... more
0 votes Share Flag Mon Jul 18, 2016 Home Buying in Chicago
Cathryn Brow…, Real Estate Pro in Chicago, IL
Cathryn Browne answered:
I am a US citizen non residing in the US. Now I want to move back and want to buy condo in Chicago with no credit history. Can I get a mortgage?
Hi! It can be done! You're likely going to have more stringent income and higher down payment requirements by lender, but shop around because it can be done. Hope this helps.
0 votes Share Flag Sat Jul 16, 2016 Home Buying in 60610
Makoy1971, Home Buyer in Chicago, IL
Makoy1971 answered:
How hard is it to clear up code violations when a basement was illegally converted into a duplex down?
dont do it i just got cited about my basement
0 votes Share Flag Sat Jul 9, 2016 Home Buying in 60613
Paul, Both Buyer and Seller in 11968
Paul answered:
I have an FHA loan on my home. I am planning to move and rent my home, I called my mortgage company and they told me I could not rent my property
Use InBedrock.com to help educate on all real costs of homeownership, including purchase price, improvements, title + HO insurance, RE taxes, mortgage financing options + after-tax impl ... more
0 votes Share Flag Fri Jun 24, 2016 Home Buying in 60622
Paul, Both Buyer and Seller in 11968
Paul answered:
Can anyone refer a Chicago based hard-money lender?
Use InBedrock.com to help educate on all real costs of homeownership, including purchase price, improvements, title + HO insurance, RE taxes, mortgage financing options + after-tax impl ... more
0 votes Share Flag Thu Jun 23, 2016 Home Buying in Chicago
Jeff Nobleza, Real Estate Pro in Evanston, IL
Jeff Nobleza answered:
I am interested in buying a home for the 2nd time and this will be my primary residence. Would I qualify for any types of programs such as FHA loans?
I can refer you to lenders that can help you out with your situation. There are more questions you would have to answer for a lender. Based on what you stated above, I feel you can qual ... more
0 votes Share Flag Tue Jun 21, 2016 Home Buying in Chicago
Jeff Nobleza, Real Estate Pro in Evanston, IL
Jeff Nobleza answered:
Why is real estate so cheap in Chicago (1 bedroom in Streeterville under $180K) ?
There is a lot more to your question than you may realize. What is the condition of the HOA? What is the size of the unit? (is it a studio that can be converted to a 1br unit or is it a ... more
0 votes Share Flag Tue Jun 21, 2016 Home Buying in 60611
Jeff Nobleza, Real Estate Pro in Evanston, IL
Jeff Nobleza answered:
How to buy a second home?
Second home loans are at or very close to interest rates on a primary residence depending on what lender you use and your personal situation. What is best for you depends on your situat ... more
0 votes Share Flag Tue Jun 21, 2016 Home Buying in Chicago
Jeff Nobleza, Real Estate Pro in Evanston, IL
Jeff Nobleza answered:
If the seller states that he will pay $10,000 in closing costs to the buyer, does that $10,000 get added to the real estate offer?
It all depends on what is negotiated and how it is written up. There's no "one way" to do this. Consult with your realtor and lender.

Jeff Nobleza
@ Properties
0 votes Share Flag Tue Jun 21, 2016 Home Buying in Chicago
Jeff Nobleza, Real Estate Pro in Evanston, IL
Jeff Nobleza answered:
I have bad credit, self-employed and looking for a place to rent in Hyde Park. Any suggestions would be greatly appreciated.?
If you would like to explore the possibility to buy instead of rent I have a lender I can refer you to who will work with you to fix your credit. Let me know by messaging me through Tru ... more
0 votes Share Flag Tue Jun 21, 2016 Home Buying in 60615
Victor Lopez, Real Estate Pro in Chicago, IL
Victor Lopez answered:
Are there any 2-3 bedroom apartments for rent thats section 8 approved with heat and hot water included?
Go to http://chicagosection8.webs.com/
0 votes Share Flag Mon Jun 20, 2016 Home Buying in Chicago
Victor Lopez, Real Estate Pro in Chicago, IL
Victor Lopez answered:
I am trying to help a voucher holder find a place in W or S Loop, Gold Coast or Lincoln Park.
Go to http://chicagosection8.webs.com/
0 votes Share Flag Mon Jun 20, 2016 Home Buying in Chicago
MCM_STL, Home Buyer in Saint Louis, MO
MCM_STL answered:
How hard is it to remove mold from basement? I found bedroom closet on main floor with mold as well. Outside, some parts of the brick wall seems to
Mold problems can be fixed. It really depends on how bad it is. The much larger concern is why you see mold in the first place. A little surface mildew in a bathroom is one thing but mo ... more
0 votes Share Flag Fri Jun 17, 2016 Home Buying in Chicago
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