Financing in Logan Square>Question Details

Keith Free E…, Home Buyer in 60622

Where are the best deals for 30yr fixed mortgages for a good borrower?

Asked by Keith Free Ellis, 60622 Mon Dec 1, 2008

I am a first time buyer with a FICO of just a few points under 700 with zero debt and 20% down. I've only been in Chicago for 2yrs but haven't searched for any credit unions. Any suggestions would be welcome.

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Hi Keith,

I am a local lender located in Lincoln Park and would be happy to help address your financing questions. Rates are a moving target so it really depends on when you are looking to purchase/refi and what market guidance we can provide based on the trading activity at that time. Please feel free to call or e-mail. Thanks,
0 votes Thank Flag Link Mon Dec 8, 2008
Rates as of today 9am 12/02/08 would be 5.25% to 5.5% depending on what you wanted to pay for closing costs -
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0 votes Thank Flag Link Tue Dec 2, 2008
5.875% as of 10:00 am this morning. If you find better than that then you will know what a good deal you are getting. Call me if I can help.

Have a great day!
Luke Allison
Flagstar Bank
0 votes Thank Flag Link Tue Dec 2, 2008
With your credit score and a 20% down payment you should qualify for a conventional mortgage. You should check out credit unions, but not limit yourself to only credit unions. A good mortgage broker or mortgage banker will have access to more sources of funding and may be able to give you a better deal. Look at all your options to see what is best for you.
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0 votes Thank Flag Link Tue Dec 2, 2008
Hi Keoth - I am a mortgage professional in your neighboring Wisconsin. I would recommend that you talk with a trusted mortgage professional in the Chicagoland area to review your options. A Mortgage Broker will be able to shop rates with dozens of lenders. Believe me, rate differ quite a bit from lender to lender. Also many lenders are offering first time home byuers specials. If you need a referral to a local Chigaco professional, I would be happy to make a recommendation. Make it a great day and best of luck to you.
0 votes Thank Flag Link Tue Dec 2, 2008
I would talk to a local mortgage broker who has access to various loan products...they can help you compare loans and advise you on the best product for you.
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0 votes Thank Flag Link Mon Dec 1, 2008
The Hagley G…, Real Estate Pro in Pleasanton, CA
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