Greg Zaccagni

"Mortgage Advisor & Loan Originator"
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Greg Zaccagni, in Illinois
  • 283 Answers
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About Me
For nearly a decade Greg has volunteered his time as an elected member on the Board of Directors for Central Credit Union of Illinois (Bellwood) serving as Secretary, Credit & Supervisory Committee Chairman. In September 2006 Mortgage Specialist Greg Zaccagni (Wheaton, IL) was interviewed for Robert Frazen's One on One public affairs talk show. Look for program #557 "Financing Real Estate in Today's Rising Rate Environment" on Comcast, Insight & UPTV.

For free mortgage information on topics like closing costs, FHA, 100% financing, reverse mortgages & more...visit my blog or enter "Greg Zaccagni" into your Google search engine
Testimonials
""Thank you for being so thorough & honest with us. Don't ever change that! I have already referred you to my friend Harriet ----" Carmen & Filip Megheles. With all my grateful heart - Thank You. Nancy Ramirez"
Carment & Nancy Sat May 31
My Q&A View all >>
Greg Zaccagni's Questions (7)
Greg Zaccagni's Answers (283)
Bazaa, Home Buyer in Chicago

Investment property (possibly Condo) in Chicago

Asked Wed Sep 26 2007, 10:39 by Bazaa  -  Chicago  -  Home Buying  -  4 answers
Greg Zaccagni answered:
I agree with Ken about your timeframe not being long term. Unless you are a builder or rahabber creating new value to a property net appreciation will take much longer than your proposed timeframe. When the real estate market was more normal the general rule of thumb was that it would take approx 2 years with 5% appreciation per year to break even. That's because selling costs could be as high as 10%.

Here is my blog on common mistakes when ibuying investment properties.
http://activerain.com/blogsview/533939/10-most-common-mistak… - Sun Nov 9 2008, 10:17
Mike, Home Buyer in Chicago

What should I do first when looking at a Bank-Owned home?

Asked Thu Nov 6 2008, 16:12 by Mike  -  Illinois  -  Home Buying  -  5 answers
Greg Zaccagni answered:
As the others have said, why wouldn't you want someone skilled in negotiating real estate transactions to represent your interestes when they are being paid for by the seller? Please let me know if you would like a referral to a skilled buyers agent for your area.
http://www.GregZaccagni.com - Sat Nov 8 2008, 19:17
Kenneth, Home Buyer in Chicago

Mortgage loan payment strategy

Asked Sat Nov 8 2008, 00:50 by Kenneth  -  Chicago  -  Home Buying  -  3 answers
Greg Zaccagni answered:
Kenneth:

Discount points make more sense the longer you stay in the loan. Paying perhaps a 1% discount up front for a lower rate can save much larger sums over the life of your mortgage loan.

The question you may wish to ask yourself is what are the chances you would need to relocate for business or other personal reasons even if you want to stay forever?

Here is my blog on discount points for your consideration
http://activerain.com/blogsview/151273/What-is-a-Point

Good luck with your decision.

Greg Z - Sat Nov 8 2008, 19:13
Mef, Home Buyer in 60187

Do you think home prices will be as depressed as they are now, 6 months from now (mid-2009)?

Asked Tue Nov 4 2008, 09:52 by Mef  -  Glen Ellyn  -  Market Conditions  -  4 answers
Greg Zaccagni answered:
The good news is that many experts believe that overall home prices have hit bottom. The bad news is that it could be till 2010 till things start appreciating. As Brandon correctly states, much depends on whether lenders start loosening up lending guidelines to bring more buyers back into the market. That would create more demand for housing and start the appreciation rolling again! - Wed Nov 5 2008, 19:17
David, Home Buyer in Chicago Heights

Would a house seller in this market agree to this?

Asked Wed Oct 15 2008, 09:30 by David  -  Chicago  -  Home Buying  -  14 answers
Greg Zaccagni answered:
David:

Another possible option for avoiding PMI would be a seller carryback - provided the chosen lender doesn't prohibit this option. It's always a good idea to use a buyers agent to represent you during the purchase negotiations. They can help you with these things including sellers paying closing costs, personal property such as fridge, washer/dryer etc. Please let me know if you would like a referral.
http://www.GregZaccagni.com - Tue Nov 4 2008, 19:09
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Specialties
Residential & Commercial Mortgage Lending Expertise
Experience
Latest:
Board of Directors for Central Credit Union of Illinois
Strategic Planning & Loan Decisions
January 1998—present
Certifications & Awards
Illinois Originators License, Six Sigma Certified
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