Financing in 60624 : Questions & Answers

change location

cancel or

Q&A

347
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
Are 80 15 5 loans still available for condos in Chicago? What about 80 10 10?
There are some 90/10 loans out there. I have seen them on a few past transactions. My web site has some lender references. Give them a call and if not them, keep trying some of the smal ... more
0 votes Share Flag Tue Nov 13, 2012 Financing in 60622
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
I live in Illinois. My credit score is 607 and we don't have much on down payment. Is my score good enough for a home loan?
The best thing you can do is to meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know i ... more
0 votes Share Flag Wed Nov 16, 2011 Financing in Chicago
Alex Pereira, Real Estate Pro in Livonia, MI
Alex Pereira answered:
I have a FICO of 610 and an annual income of 75000 a past ch. 13 paid in full and on time can I get a mortgage?
there are lenders from what am seeing claiming to do fha loans down to 600 fico scores. Ultimately your overall profile and debt structure will determine your eligibility. Having a CH ... more
0 votes Share Flag Mon Oct 24, 2011 Financing in Chicago
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
My scores: 612, 639, 645. I have 40K to put down on 120K investment prop. My monthly net income 3.8K, no debt. Would a national lender consider me?
Fannie Mae & Freddie Mac financing just require a 620 credit score for their programs (including investment property) - so your scores would meet that level. What is on your credit ... more
0 votes Share Flag Mon Dec 17, 2012 Financing in 60624
Matt Laricy, Real Estate Pro in Near North Side, Chi...
Matt Laricy answered:
What banks are financing investors for SFR rentals?
I may have someone that can do this. Id be happy to refer them to you.
0 votes Share Flag Thu Nov 17, 2011 Financing in Chicago
Jack Gillis,…, Real Estate Pro in Dallas, TX
Jack Gillis, CRS, M.B.A., J.D. answered:
I currently in a modification, but it is still too much for me. How can I contact the bank directly?
Your mortgage statement has a contact number to call. Just tell them you need to speak with the modification department. However, unless your situation has deteriorated since the modifi ... more
0 votes Share Flag Fri Aug 26, 2011 Financing in Chicago
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
The federal reserve has proposed new rules from implementing the Dodd Frank Act and eliminate seller financing.Whats next?
I do not understand the problem. If the banks want it I am sure it's good for the country/economy/real estate market. Why wouldn't it be?? They are always right! Look how much ... more
0 votes Share Flag Tue Aug 9, 2011 Financing in Chicago
Gerard J. Ca…, Real Estate Pro in Spring Hill, FL
Gerard J. Carney answered:
I received a house from my parents via a quit claim deed, the house is in Chgo but I live in TX, how can I get the mortgage under my name
You will have to apply for a mortgage and pay off the old mortgage!
0 votes Share Flag Wed Nov 16, 2011 Financing in Chicago
Gerard J. Ca…, Real Estate Pro in Spring Hill, FL
Gerard J. Carney answered:
Can a bank require a potential home buyer to get financing from a specific lender?
You can not lose the deal because you used your lender, however you can lose the deal if your lender deems you not capable of a mortgage!
0 votes Share Flag Tue Aug 30, 2011 Financing in Chicago
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
If im a 1st time buyer that wants to apply for a 100k loan with 30℅ down and 540 score. Can some 1 with a 650 score co sign 4 me?
Yes someone can co-sign for you - having a co-signer with a 650 score can make your overall loan situation look better to a lender. But someone with a 650 score doesn't make the p ... more
0 votes Share Flag Sun Jul 17, 2011 Financing in Chicago
David Hanna, Real Estate Pro in 60417
David Hanna answered:
I own RE investment free and clear but my score is 540 - can I get a small equity loan?
The short answer is, no as far as "normal lenders go. A "hard money' lender will do something like this, but not at rates you see from banks, and not with terms that give ... more
0 votes Share Flag Thu Jun 9, 2011 Financing in Chicago
John Potter, Real Estate Pro in Cook County, IL
John Potter answered:
In Chicago - need refinance advice for an underwater condo
You are down only 10%. Not bad. Maybe. Talk to a banker. He maybe able to pull some program out of his carpet bag to sell you.
0 votes Share Flag Mon Mar 11, 2013 Financing in 60640
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
What lenders in illinois can you still qualify for with a credit score of 600?
It depends upon your credit report, but my company does FHA down to 580.
0 votes Share Flag Mon Jun 13, 2011 Financing in Chicago
David Burnham, Real Estate Pro in Washington, DC
David Burnham answered:
im already paying for another house so im only aprooved by 180,000 can i buy a house that cost 199,000?
Does your pre-approval letter say you can buy a house up to $180k or a loan up to $180k? If it is the later, then you can as long as you put $19k down.

Either way, talk to your lend ... more
0 votes Share Flag Mon May 30, 2011 Financing in Chicago
Jason Naill, Real Estate Pro in Chicago, IL
Jason Naill answered:
I am purchashing a home with a 203k loan for about $200k. Bank orignation costs total $7000!! Are these fees excessive?!?
Hi, Yllas

it's tough to answer these types of questions because every situation is different, but its bit high in my opinion. If its a quality loan officer then it's not ... more
0 votes Share Flag Sat May 21, 2011 Financing in Chicago
Andrew Luett, Real Estate Pro in Chicago, IL
Andrew Luett answered:
Were will I be able to locate a list of lenders that have provided mortgages at the John Hancock building?
Hello Marilyn,

I have helped borrowers with their financing at the Hancock building on several occasions.

Please contact me if you assistance.

Thanks,
Andrew
aluett@wintrustm ... more
0 votes Share Flag Sat May 21, 2011 Financing in Chicago
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
what is an estimate for homeowners insurance in chicago?
For a condo perhaps a few hundred. For a house/2 flat perhaps $1500-2500 depending on various factors. If you have a condo you just need to insure the interior of the unit. The associat ... more
0 votes Share Flag Sat May 14, 2011 Financing in Chicago
David Jaffe-…, Real Estate Pro in 60004
David Jaffe- CDPE SRES answered:
If pre-approved for a certain amount for a loan, is it possible to get some of that amount as a lump sum at closing to perform repairs before move-in?
Hi Sara,

I would encourage you to speak with your lender regarding getting cash back for repairs. It depends on the type of loan you are qualified for. You can also ask the Seller ... more
0 votes Share Flag Mon Oct 24, 2011 Financing in Chicago
Christopher…, Real Estate Pro in 10591
Christopher Pagli - ABR, GREEN answered:
how to get cash for rehab property?
Hi, Yes there are. There is a rehabbing loan available through the FHA called a 203k loan. This loan has two types one for 430k and under and one that is larger then that and requires ... more
0 votes Share Flag Sat Apr 23, 2011 Financing in Chicago
Carl Henker, Real Estate Pro in 95928
Carl Henker answered:
Is it Loan Fraud to rent recently refinanced FHA property due to job relocation?
Technically the one year starts over. Had the refinance been completed before you were given the word of the job transfer then you should have been OK. Knowing of the transfer and wit ... more
0 votes Share Flag Thu Apr 4, 2013 Financing in 60640
... 4 5 6 7 8 ...
Search Advice

Followers

1535
Email me when…

Learn more

Meet the Trulia VIPs
JAMES MOSER, Broker in 60605
JAMES MOSER
Broker
60605
John F. Wyman, Broker in Chicago, IL
John F. Wyman
Broker
Chicago, IL
Carrie McCormick, Broker in Chicago
Carrie McCormick
Broker
Chicago
Ursula Shine, Agent in Chicago
Ursula Shine
Agent
Chicago
Home > Q&A > Illinois > Cook County > Chicago > 60624 > Financing in 60624
Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer