Home Buying in Chicago>Question Details

Rx7power21, Home Buyer in New York, NY

I am possibly looking to move from columbus to chicago. Are there any 80-15-5 loans still available in the chicagoland area?

Asked by Rx7power21, New York, NY Thu Oct 17, 2013

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Hi Home buyer,

My go to person that gets is done is Mary Kay Laurent with Guaranteed Rate at 773-516-6859. Welcome!
1 vote Thank Flag Link Thu Oct 17, 2013
Hello RX,

I would be happy to discuss what you are looking for and review your options with you.

Mary Kay Laurent
Associate Vice President of Mortgage Lending
marykay.laurent@guaranteedrate.com
http://www.guaranteedrate.com/MaryKayLaurent

o: 773.516.6859 - m: 312.403.4150 - f: 773.328.1740
Flag Thu Oct 17, 2013
I have a great lender that I can get you in contact with. If he can't provide the loan, he's great at providing someone who can. Please email or call me. Thank you.

I've lived in Naperville for 21 years - It's a great place to live, please give me a call; I would love to work with you.

Pamela Peterson
Broker Associate
RE/MAX Action (630)803-9554
email: pamelapeterson7043@yahoo.com
0 votes Thank Flag Link Mon Nov 11, 2013
Rx -
My Law Firm and RE Offices have used Mortgage Officer / Tom R. Callahan / Fifth Third

Email: thomas.callahan@53.com, and have received 100% financing and 90% LTV on loan amounts up to $1,000,000 with No PMI, great low rate, variety of terms, and few bank fees, all in one loan.
If your occupation is a Doctor then you should take full advantage of this offering and keep your capital in savings.

If your occupation NOT of Doctor then you can do an 80-10-10, No PMI and you get the lowest rate by just placing a small 2nd mortgage behind the 1st mortgage of 80% up to max 90% total combination loan. To our knowledge the 80-15-5 is no longer available anywhere.

Mortgage Officer / Tom R. Callahan / Fifth Third
Email: thomas.callahan@53.com

Tom has been assisting home buyers for over 28 years and is recognized on a national level with the Mortgage Bankers Association as a leader within the industry.

Hope this helps – T J Jacobs
0 votes Thank Flag Link Tue Oct 29, 2013
Yes, we can get you a home with as little as 3.5% down. Call or email for a free pre-approval and free credit report.

We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (630) 639-1081.

Brad Neumann
Sr. Loan Officer
Mobile Phone: (630) 639-1081
Email: bneumann@myccmortgage.com
3130 Finley Rd. Suite 510C
Downers Grove, IL 60515
0 votes Thank Flag Link Fri Oct 25, 2013
Hello:

I am a local mortgage broker and would be happy to help you get pre-qualified.

We work with over 30 lenders to help you get the best possible financing. We specialize in FHA, VA, 203k renovation loans and Reverse Mortgages for refinance and purchase too! Were other banks require a 640 and above score to help with financing, our lenders will go as low as a 580 score on an FHA mortgage. SMC carries an A+ Better Business Bureau Rating and we have worked in the community for over 15 years!

Please call or email me so we can set aside some time to get you prequalified; or visit my website to complete the application http://www.smartmortgageinc.com.

I look forward to working with you!

Patty Harrison
Smart Mortgage
0 votes Thank Flag Link Fri Oct 18, 2013
Rx, If you are a Doctor you will be interested to know that you are eligible for 0% Down, No MI, Low Rates?

Our medical group highly recommends a Doctor Loan that offers more flexible terms such as No MI, 0% down and requires a credit of 680 by utilizing Bank portfolio capabilities. Our medical focus group has had numerous members of staff contact:

http://www.DoctorMortgageAlliance.com
info@doctormortgagealliance.com

They were amazed at the programs available to Medical Resident Doctors/Physicians.
The alliance was created by Medical professionals to simply direct fellow professionals in the right direction for obtaining the best mortgage deal available today. I like it - people helping people, is what it is all about!

Rates have been reported recently as low as 3.500% on a 5 year fixed/arm, to 3.750% on a 7 year fixed/arm term. Other terms such as a 10 year fixed/arm and 30 year and 15 year fixed terms are available.

The alliance has Loan Officers who have been professional with vast experience.
For those looking to purchase a home we encourage you to email:

info@doctormortgagealliance.com or call at 800-385-0766 – they are very busy so email has worked best for our Doctor's.

A mortgage banker will contact you in a timely manner to discuss options.
Good luck with searching for your new home! Sarah Jones, MD

http://www.doctormortgagealliance.com
0 votes Thank Flag Link Fri Oct 18, 2013
Call one of these guys:
Justin Lopatin – Perl Mortgage - jlopatin@perlmortgage.com - 847.345.0308
Michael Black – Winstrust Mortgage - mblack@wintrustmortgage.com – 773.426.6798
Matt Porter – Charter One Bank - Matt.Porter@charteronebank.com – 847.897.1030
Mike Caraga – GMA Consultants – gmaconsultant36@gmail.com – 708.359.6495
0 votes Thank Flag Link Thu Oct 17, 2013
Greetings Rx,

Welcome to Chicagoland.

Plenty of great housing & financing options are available for you.

As per financing, as long as your credit and income meet certain criteria, you can qualify for a 95% LTV loan w/ or w/out PMI.

Feel free to contact me should you need any assistance.
Web Reference: http://www.BJDLOANS.com
0 votes Thank Flag Link Thu Oct 17, 2013
Speak to a lender. They will be able to tell you all about the options. If you need a referral, please let me know.
0 votes Thank Flag Link Thu Oct 17, 2013
There is a lot of lenders out there that can help you out. If you need a referral, let me know.
Web Reference: http://Americorpre.com
0 votes Thank Flag Link Thu Oct 17, 2013
Combo loans to avoid PMI are in short supply these days. A 2nd mortgage is mainly used to avoid having to do a jumbo loan.

Most borrowers with really good credit elect to do a single 5% down loan either at a slightly higher rate to avoid PMI altogether OR instead of traditional monthly PMI they pay it as a single premium - kind of like pre-paying an entire car lease - so you save a lot of money by paying up front.

On a $200,000 mortgage this could save you $60-$100 per month.

Feel free to give me a call or email me and I can fill you in on the details and we can see if you'd be likely to qualify.

Tony

Tony Grech | Mortgage Loan Originator | NMLS #977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 ext. 278
Mobile (313) 622-7383
Fax (248) 945-4842

tony.grech@pmac.com
0 votes Thank Flag Link Thu Oct 17, 2013
Congratulation in your decisition to move to Chicago ...are you sure you want to to the move ? Columbus is a great litle city
0 votes Thank Flag Link Thu Oct 17, 2013
FHA and conventional loans exist and you should contact our lenders about similar things
0 votes Thank Flag Link Thu Oct 17, 2013
My web site has some lender references. Give them a call, but you might want to rent for a year to decide where you might want to live. It's a big city.
0 votes Thank Flag Link Thu Oct 17, 2013
I may be able to offer you 5% down, no monthly mortgage insurance. Contact me to discuss.

Matthew Roder
VP of Mortgage Lending
Guaranteed Rate
630-388-9533
matthew.roder@guaranteedrate.com
http://www.guaranteedrate.com/matthewroder
0 votes Thank Flag Link Thu Oct 17, 2013
Spoke with a Mark Gahowl from guranteed rate. Nice guy. Said was no available 80-15-5 loans for the banks he had available. ; (
Flag Thu Oct 17, 2013
Talk to Sam Sharpe, he's amazing!

Good luck!
0 votes Thank Flag Link Thu Oct 17, 2013
There are not - but there still some great options available with 5% down - even without paying PMI
Please feel free to call me to discuss
Sam Sharp
Senior VP of Mortgage Lending
Guaranteed Rate
773-290-0455
0 votes Thank Flag Link Thu Oct 17, 2013
There are many options for you.

First thing first, call me to discuss.

Alex Romo
Senior Vice President / Mortgage Lending
312-738-8430
0 votes Thank Flag Link Thu Oct 17, 2013
What is your situation where you need a 80-15-5 instead of just going with a 95-5 loan?

In addition, depending on your situation and/or the home you buy, have you looked into Fannie Mae Hompath financing? IHDA assistance? or if Evanston is a location you would consider- the Live Evanston program?

Call Bernard Duganzik with Key Mortgage at 847 508 0190 as he is an ethical and competent lender that can help you.

Jeff Nobleza
Baird & Warner Real Estate
773 677 5340
0 votes Thank Flag Link Thu Oct 17, 2013
There are 80-10-10 loan solutions available to you. Reading between the lines, do you need this toward jumbo purchase money? If NO, you could of course consider a 95% financing if your purchase plans are within conforming limits for the Chicagoland area.
0 votes Thank Flag Link Thu Oct 17, 2013
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