Financing in Oak Park : Questions & Answers

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Patricia Dia…, Real Estate Pro in Oak Park, IL
Patricia Diane answered:
what is a conventional loan without pmi?
To avoid PMI you would need to put down a minimum of 20% loan to value.
0 votes Share Flag Fri Jan 27, 2012 Financing in 60304
blwegrzyn, Other/Just Looking in Oak Park, IL
blwegrzyn asked:
Loan Refinance - Best Rate I currently have a loan in amount of 161,000. I leave in Oak Park, IL. Last time when the appraisal was done the value was estimated to be 150,000 and I had second mortgage so I could...
0 votes Share Flag Wed Jan 25, 2012 Financing in 60304
Dan Tabit, Real Estate Pro in 98074
Dan Tabit answered:
I would like to refinance my home for a lower interest rate, The balance is 85,000.00; my current rate is 5.75 fixed, 12 years left. What are points?
Refinance,
Points are a percentage of the loan amount. If you are borrowing $85,000 one point would be $850. Points are used to pay the origination fee to a lender and or pay to red ... more
0 votes Share Flag Thu Dec 9, 2010 Financing in Oak Park
Nancy Jarrett, Real Estate Pro in Oak Park, IL
Nancy Jarrett answered:
Refinance the ARM loan with the 2nd mortgage loan
I'm not a finance expert but I think it's a good idea to refinance while interest rates are low; who knows from day to day what is going to happen in this economy. The expert ... more
0 votes Share Flag Sun Jul 18, 2010 Financing in Oak Park
Mr.smith2010, Other/Just Looking in 60304
Mr.smith2010 answered:
what is the current interest rate based on ARM Index Name WSJ 6 MONTH LIBOR?
here is all info on loan: what would be interest rate if it adjusted today:

ARM Information
Scheduled/Pending ARM Information: Payment Calculation Information:
Next Scheduled ... more
0 votes Share Flag Sun Jul 18, 2010 Financing in 60304
David Cruick…, Real Estate Pro in Palatine, IL
David Cruickshank answered:
Refinancing under Obama plan
Please take a look at my blog about the home affordible refinance plan posted on trulia. The link is also listed as a web reference below.. As far as the decision its really up to what ... more
0 votes Share Flag Thu Apr 9, 2009 Financing in Oak Park
blwegrzyn, Other/Just Looking in Oak Park, IL
blwegrzyn asked:
Refinancing under Obama plan I called my bank (bank of america - where the first loan is) and they said that they could refinance it under Obama Plan: 30years fixed, 5.75,0 point,monthly payment 1033.26. Currently ...
0 votes Share Flag Thu Apr 9, 2009 Financing in Oak Park
blwegrzyn, Other/Just Looking in Oak Park, IL
blwegrzyn asked:
Refinancing under Obama plan I called my bank (bank of america - where the first loan is) and they said that they could refinance it under Obama Plan: 30years fixed, 5.75,0 point,monthly payment 1033.26. Currently ...
0 votes Share Flag Thu Apr 9, 2009 Financing in Oak Park
blwegrzyn, Other/Just Looking in Oak Park, IL
blwegrzyn asked:
Refinancing under Obama plan I called my bank (bank of america - where the first loan is) and they said that they could refinance it under Obama Plan: 30years fixed, 5.75,0 point,monthly payment 1033.26. Currently ...
0 votes Share Flag Thu Apr 9, 2009 Financing in Oak Park
Mike B, Real Estate Pro in Raritan, NJ
Mike B answered:
What are the best banks to deal with for the refinancing?
I don't think any one bank, lender, or broker stands out. rather, find someone you are comforatable working with who can offer you a rate and program beneficial to you.
0 votes Share Flag Sun Jul 18, 2010 Financing in 60304
Mike B, Real Estate Pro in Raritan, NJ
Mike B answered:
Hello, currently I have a conventional loan ARM without PMI . The balance is 177000$ with 5.25% interest
Hi,
Find out what your index is(the 1 year tesury bill, etc) and what your margin is: 2.75%, etc. Your new rate will be the index + the margin. You may be pleasantly surprised if yo ... more
0 votes Share Flag Sun Jul 18, 2010 Financing in 60304
John Brown, Real Estate Pro in Overland Park, KS
John Brown answered:
Do I need a new mortgage broker?
Local mortgage brokers are usually not well-suited to do out-of-state loans. Often, they are unaware of the local customs that prevail in other states and can foul up a transaction, ke ... more
0 votes Share Flag Mon Nov 3, 2008 Financing in Oak Park
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