I send all my clients to Mary Kay from Guaranteed Rate. She will work with you to make sure you will qualify even if it takes a year. She will help you come up with a game plan. After you get your credit and financing in line, interview a couple of brokers.
Best of luck
Please give me a call to review,
Mary Kay Laurent
Associate Vice President of Mortgage Lending
o: 773.516.6859 - m: 312.403.4150 - f: 773.328.1740
3940 North Ravenswood , Chicago, IL 60613
NMLS ID: 870598
â€¢ Meet with a Local Mortgage Banker in person to get prequalified for mortgage financing. Thorough Prequalification includes a credit report AND review of tax returns, paystubs and bank statements.
â€¢ Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order.
â€¢ Work with an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
*If you thought my answer was helpful, please give me a â€œThumbs Upâ€ or â€œBest Answer.â€ Thanks!
I work for Wintrust Mortgage, and we partner with the State of Illinois' Housing Development Authority to put more First Time Homebuyers in their new home than any other lender.
Credit scores down to 620, Down Payment Assistance up to $6000 statewide and up to $10,000 in certain areas or if you're a veteran.
Feel free to call me at 773-416-7107 or you can visit my website and fill out a FREE online application.
Senior Mortgage Consultant
Let me expand.
DO NOT LET YOUR SHADOW CROSS THE THRESHOLD of Chase, Bank of America or Wells Fargo. As recent history as revealed, these are PREDATORY organizations and should be avoided. You have been warned.
If you want to work directly with a lender, choose a lender who invests in your community via small business loans and home loans. Choose an "A" or "B" graded lender. You will note all of the predators are graded "F". Enter your city or zip and choose the lender of your choice.
Go to: http://www.BankingGrades.com
Any of the mortgage brokers who have been identified or raised their hands are good choices also. They have a full storehouse of solutions from which to draw. Banks will only sell you their financial products.
Stay away from the biggies. They WILL sell your business to someone else..BECAUSE they really don't want your home mortgage business.. THEY DO WANT the fees and penalties they collect for servicing. FEES and PENALTIES account for the OVERWHELMING majority of their profit. USURY is PREDATORY.
Market Place Mortgage
Lombard, IL 60148
Phone: (630) 217-7013
After you find a home I recommend that you use Erik Miles as a lawyer. His fee is reasonable and can be rolled into the closing costs. You can likely ask a seller to pay for your closing costs.
Keep in mind that your likely out of pocket expenses are an appraisal (approx $400) and a home inspection (approx $400 for a single family home should you choose to get one).
I hope this helps.
Baird & Warner
773 677 5340
I have experience working with borrowers with less than perfect credit. I have helped many improve their credit and obtain a home loan.
For what you pay in rent you should be working with a lender to prepare you for homeownership.
VP of Mortgage Lending at Guaranteed Rate
Senior VP of Mortgage Lending
15 minutes on the phone will let you know what you can do now, and if you cannot qualify at the moment, what you need to do to be a buyer in early 2014.
He is a great guy, loves to work with less than perfect credit buyers, and he is easy to talk to.
Find out what you can do before you spend time and money on the process and end up disappointed.
Best of luck, I am happy to help with the home search, just email me back.
It's possible, but the best way to find out what or if you qualify for is to speak with a lender. Please call, or email me and I can give a few good recommendations.
Real People Realty