Financing in Chicago>Question Details

Nowelt255, Home Buyer in Houston, TX

can i get finaneing for 2 houeses at the same time in chicago il from the same lender.?

Asked by Nowelt255, Houston, TX Sun Dec 16, 2012

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14
Maria Cipollone’s answer
Did you ask your Lender is that is possible based on your current financial status? He/she is the best person to answer your question because they are looking at your complete financial package.

Best of Luck,

Maria Cipollone

Century 21 Tenace

http://www.Flahomespecialist.com
1 vote Thank Flag Link Mon Dec 17, 2012
Hello,

Lenders are concerned about their investment. If the "borrower", meaning you, can afford two mortgages along with personal debt then they have no issues lending you the money. There are certain restrictions to your down payment amount and the occupancy status of the homes. I suggest you speak with your lender and clarify all your concerns. If for some reason the lender has not noticed that you are in a multiple lending situation then be prepared for one or both of your deals to fall through at or near closing. Lenders have gotten better at verifying everything before closing. Please feel free to visit our blog if you have any further question at http://www.newmanknowschicago.com

Good luck!

Jorge Vega
Real Estate Broker
Newman Realty Group
http://www.newmanknowschicago.com
http://www.searchingillinois..com
773-627-7608
1 vote Thank Flag Link Mon Dec 17, 2012
1 for owner, 1 for investment sure. But if you are trying to do two owner occupied, call the U S Attorney General in your area and turn yourself in for mortgage fraud.

The penalty is $1,000,000 fine and/or 30 years in jail.

Not that I am saying you are doing this, but I want people to understand that mortgage fraud is a very serious crime.
0 votes Thank Flag Link Sun Dec 23, 2012
Sure. Like Jim, I also have a reference for one of the best loan officers in the market for something like this.
Talk to Michael Plating at Inlanta Mortgage.

(630) 842-3328 or email him, michaelplating@inlanta.com

Best of luck with this, if you need any other help, let me know.
0 votes Thank Flag Link Mon Dec 17, 2012
An excellent question and who better to answer than the lender you can use
Wieslaw (Wesley) Jura Vice President. NMLS ID 225274. Direct: 773-304-3412. Fax: 773-283-2788. Cell: 312-405-2404. wjura@unitedequity.us
0 votes Thank Flag Link Mon Dec 17, 2012
As long as you qualify, why not, but I bet you are leaving something out of your question.
0 votes Thank Flag Link Mon Dec 17, 2012
As long as you qualify financially for both proeprties this should not be an issue.
0 votes Thank Flag Link Mon Dec 17, 2012
Definitely, as long as you qualify for financing on both properties



Sohail A. Salahuddin | Founder

Innovative Property Consultants Group | Sales and Leasing

http://www.innovativepropertyconsultants.com



Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 


O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Extraordinary Service For Extraordinary Lives"
0 votes Thank Flag Link Mon Dec 17, 2012
Yes you can, as long as you qualify.
0 votes Thank Flag Link Sun Dec 16, 2012
Yes you can.
Please feel free to call me for a free quote and to answer any questions that you may have.
Sam Sharp
Senior VP of Mortgage Lending
Guaranteed Rate
773-290-0455
0 votes Thank Flag Link Sun Dec 16, 2012
Absolutely! ...as long as both you and the properties qualify for the loan.
Web Reference: http://www.BJDLOANS.com
0 votes Thank Flag Link Sun Dec 16, 2012
Yes you can. The terms will depend on if these properties are owner or non owner occupied. Give me a call if you would like to discuss in detail. 630-330-2229. Sean Cochran
0 votes Thank Flag Link Sun Dec 16, 2012
Yes. As long as you qualify for both payments you should be fine for financing. Terms of both loans would also need to be disclosed on the applications.
0 votes Thank Flag Link Sun Dec 16, 2012
Yes, you can. Each loan application would have to show terms of loans each both properties.
0 votes Thank Flag Link Sun Dec 16, 2012
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