Financing in 60605 : Questions & Answers

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Bill J Delig…, Real Estate Pro in Chicago, IL
Bill J Deligiannis answered:
Looking for a private loan on a 2flat in Chicago. Already collecting $1400 month. Paid $140,000 cash want to get $50-70,000 loan.
Be prepared to provide all the documentation for income, assets, etc.
0 votes Share Flag Sat Jul 28, 2012 Financing in Chicago
Greg Moore, Real Estate Pro in Chicago, IL
Greg Moore answered:
Looking for a reputable private mortgage lender. Need $90k on original $359k property. I will put $60k cash down.
Allan,

I have been in the mortgage industry for over 8 years and I work at Wintrust Mortgage which is a very reputable lender based out of Lake Forest. We have the ability to portfo ... more
0 votes Share Flag Tue Aug 27, 2013 Financing in Chicago
Gregorio Den…, Real Estate Pro in San Diego, CA
Gregorio Denny answered:
I have a 633 credit score and one year from a shortsale that I was late on. I'm looking for an 80% LTV
You are not going to find financing for this unless you can find a seller to carry. You need 2 years for conventional with 20% down or 3 years for FHA since you went late. You don't hav ... more
0 votes Share Flag Tue Jun 26, 2012 Financing in Chicago
Darrell D. D…, Real Estate Pro in San Antonio, TX
Darrell D. Drouillard answered:
Is it better to pay cash for a house outright then get a home improvement loan or to get a 203K loan?
1st, is this a home you want to live in or is this an investment property. If you are going to live in it, I would speak with a local lender about options.

If this is an investment ... more
0 votes Share Flag Sat Apr 19, 2014 Financing in 60653
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
i need information what can i do in buying my first house?
How low is low? That might be a deal breaker to begin with. Otherwise you can get an annual 'free' credit report for each of the 3 credit agencies and doing so will not lower you FICO s ... more
0 votes Share Flag Thu Aug 9, 2012 Financing in Chicago
Steve Smither, Real Estate Pro in Palatine, IL
Steve Smither answered:
home loans using ITIN number?
Most lenders willing to lend with an ITIN require the person to have been in states for a year and have a legal right to be in the states.

Good luck,

Steve Smither
Milestone Mort ... more
0 votes Share Flag Mon Apr 21, 2014 Financing in 60618
Tom Bohlmann, Real Estate Pro in Wake Forest, NC
Tom Bohlmann answered:
Mortgage Approval Based for Recent Graduate?
Congratulations on your graduation and employment.

Most loan qualifications require a 2 year employment history at current salary or slightly increasing.

The other option, is you ... more
0 votes Share Flag Fri Jun 8, 2012 Financing in Chicago
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
I'm a UK national looking to finance a condo in Chicago. I would want to rent the property out. Does anyone know any suitable lenders? Many
That might be difficult, but my web site has some lender references. Give them a call.
0 votes Share Flag Fri Jun 8, 2012 Financing in Chicago
Darrell D. D…, Real Estate Pro in San Antonio, TX
Darrell D. Drouillard answered:
can a person buy any of these houses that are for sale on this website through an fha loan?
Absolutely! There are many loan options available for homes on this website. Each one is specific in regards to geography, condition, etc. Other options are VA loans if you qualify, co ... more
0 votes Share Flag Fri May 25, 2012 Financing in 60638
Steve Smither, Real Estate Pro in Palatine, IL
Steve Smither answered:
Does anyone know what the average fees are for 203K loans?
Jorge,

Typical fees are a bit higher than a regular FHA loan.
There will be a supplemental origination wich can range from $350 and up.
There will be a final inspection and title u ... more
0 votes Share Flag Sun Jun 3, 2012 Financing in Chicago
Matt Laricy, Real Estate Pro in Near North Side, Chi...
Matt Laricy answered:
Looking for an Appraisor
I have a lender that can refer about 5 good ones to you if need be.
0 votes Share Flag Fri Jun 1, 2012 Financing in Chicago
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
im in a short-sale home want to purchase another home how long do i have to wait to do so?l
You need to speak with a few lenders to review your financial situation. It can vary with the loan programs available. My webs site has some lender references. It does not cost anything ... more
0 votes Share Flag Sat Jun 2, 2012 Financing in Chicago
Sam Sharp, Real Estate Pro in Chicago, IL
Sam Sharp answered:
my middle score is 697. i make 35000 yr
I would be happy to speak with you and answer any questions as well as possibly issue a Pre approval. You can call me Sunday if you Would like.
Sam Sharp
Senior VP Of Mortgage Lendi ... more
0 votes Share Flag Sun Apr 22, 2012 Financing in Chicago
Jesse McGrath, Real Estate Pro in Chicago, IL
Jesse McGrath answered:
Hello, I have a refinancing question on my investment property to see if it is a good deal or not
It would take you two years to pay off the closing costs and pre-paid items. If you are going to hold onto the property for more than two years it sounds like a good deal to me. I wou ... more
0 votes Share Flag Thu Apr 19, 2012 Financing in 60630
jeffdonnellan, Real Estate Pro in Chicago, IL
jeffdonnellan answered:
I was looking to refi my condo/townhouse on a HARP loan, rent it out, and then buy another property as my for my primary residence. need some advise!
Your situation is the new norm and I help my clients do this all the time. If you have less than 20% equity or have no previous rental property history, most lenders will require you t ... more
0 votes Share Flag Thu Apr 12, 2012 Financing in Chicago
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
me and my sister purchased a multi family 2 unit, about a year ago, we are having a hard time getting a rehab loan. what can i do?
My web site has some lender references. Give them a try. Try as many as you can find. There is no cost to talk with them.
0 votes Share Flag Thu Apr 12, 2012 Financing in Chicago
Adam Barrera, Real Estate Pro in Chicago, IL
Adam Barrera answered:
how can i get a rehab loan with bad credit?
Equity based funding. you will need to have some of your own cash, but the programs are available.
http://qualityfundingsource.financial.officelive.com/lendingab.html
0 votes Share Flag Sun Apr 8, 2012 Financing in Chicago
Matt Laricy, Real Estate Pro in Near North Side, Chi...
Matt Laricy answered:
are any local chicago banks or brokers offering construction loans ? If so what are the terms? I am looking to construct a 4 unit building .
These are tough to come by. I may have a contact if you need one. Try Tony Lupescu 708-351-6416.
0 votes Share Flag Fri Oct 26, 2012 Financing in Chicago
Adam Barrera, Real Estate Pro in Chicago, IL
Adam Barrera answered:
Looking for a reputable private mortgage lender. Need $90k on original $359k property. I will put $90k cash down. Minooka Il.
Hi Allan Quality funding Inc. can help you with your funding needs, we are a direct private money lender in the Chicago area. Here is a link to my website take a look around and give me ... more
0 votes Share Flag Mon Jun 10, 2013 Financing in Chicago
Jeff Nobleza, Real Estate Pro in 60640
Jeff Nobleza answered:
I am looking to refinance a home in Chicago Il -currently have a 7 year arm physician loan. Looking to refinance with no PMI again.
Read your loan terms as you may not want to refinance. My arm expired and my rate went down from 5.75 pecent to 3 percent. Your refinancing options they differ depending on whether or n ... more
0 votes Share Flag Thu Mar 29, 2012 Financing in 60657
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