Home Buying in Dupage County>Question Details

juleem13, Home Buyer in Chicago, IL

Mortgage Advice

Asked by juleem13, Chicago, IL Thu Jun 7, 2012

Hi all. I have a question. I'm considering buying a home either in the next 2.5 months or a year from now (I currently rent and my lease renewal is coming up). I am interested in speaking to someone about loans to see what I may qualify for (probably FHA) and what my payments would be. Depending on that I may or may not want to do Pre-Approval. I don't necessarily want my credit pulled at this point since I don't want to take the hit to my credit score (I'm teetering at 680) if I'm not purchasing immediately. Any advice. I recently ran my own report and score. Can i show them this to have them give me a general idea so I know if this is something I can even pursue at this time?

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You are right, I checked with her and she is not signed up for that program, sorry........
0 votes Thank Flag Link Thu Jun 7, 2012
I'm also interested in the SmartMove program and I don't see Jeri listed as working with that program. :(
0 votes Thank Flag Link Thu Jun 7, 2012
Very well said Elliott! If you were local, you could be my "back up" Mortgage Broker/Lender...ha ha Juleem, if you read Elliott's blog you could see that for FHA your credit score is not in jeopardy with another "pull", and since you "may" be buying now, I think a full analysis is the way to go, even if you end up waiting a year. You could always start the process with basic preapproval talk to get your basic questions/numbers answered and then decide if you go further, but I still advise to do this face to face with a committment to spend at least an hour because a lot of things/scenarios/questions/"what-if's" come up in such a meeting that will undoubtedly be informative and empowering to you.....Jeri Lynn is very good at this type of consultation!
0 votes Thank Flag Link Thu Jun 7, 2012
Take a minute to read this about the Pre-Approval process: http://www.trulia.com/blog/elliott_r_oliva/2011/12/pre-apppr…
0 votes Thank Flag Link Thu Jun 7, 2012
Hi Juleem, my trusted Mortgage Broker is Jeri Lynn Fox at USA Mortgage Corp, you can reach her at 630.333.1800. She was the President of the Illinois Association of Mortgage Professionals in 2010. Her experience allows her to navigate you through what has undoubtedly become a very complex process these days. I strongly advise that you dedicate at least 1-2 hours of initial face to face meeting time with a Mortgage Broker, that is willing to do so, to begin the proces. It just doesn't make sense to spend days upon days shopping for a home as most do, and only a 15 minute phone call to get your "financial home" in order. Congratulations on starting the process the right way!....and Good Luck!....Lots of great deals out there!
0 votes Thank Flag Link Thu Jun 7, 2012
My advice would be to call Pat Kroeger of Key Mortgage at 630-609-6595 - She's been doing mortgages in Dupage County for over 20 years, is a real straight shooter and will set you on the right/best path to purchase - good luck!!
0 votes Thank Flag Link Thu Jun 7, 2012
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