It depends on your credit (which is great), type of loan you are looking to obtain, type of property, and the purchase price/loan amount you are applying for. Typical jumbo purchase loan minimum down payments are anywhere from 5 to 15%. I suggest contacting a loan originator to get more info. Feel free to give me a call.
Senior Loan Originator
One Mortgage, Inc
NMLS #: 222407
p.s. Is it safe to assume with the name of Bassoian, that you are Armenian? My wife is 100% Armenian.... more
Having an art degree myself, I can appreciate what you are thinking about doing. Tactifully done, they can add to a home of your stature. Will you get dollar for dollar back on it? I think not. Will it make your home sell faster? Probably not, unless you are really improving a neglected space. Depending on the "updatedness" of your home, you may want to spend the same money where it matters most- kitchen and baths.... more
I think a good agent will search a variety of ways and much of that depends on the buyer and their priorities. Often times, it takes some dialog with the buyer, or even showing them some homes to see what they love or not in order to find out what is important to them. Sometimes the things they say are important fall further down the list when other things move their way UP the list. So the search parameters depend on the needs of the client.
But as far as the actual search, I start with a search of an MLS area by number but then also will search by school district, or lot size or age of home. I usually use a map search (the rubber band search) when a client needs to be within a certain distance of something specific like a relative or perhaps their workplace.
Spelling out the city may leave some homes out of your search because there may be variations in how the name is entered. For example: St. Charles, Saint Charles, St Charles, StCharles...you get the point? But if I enter 60174 in the zip code field (not the area) I will get only homes in the "incorporated" area of St. Charles. If I enter 60175 in the zip code I will get unincorporated St. Charles. These are nuances of the MLS that most good agents are familiar with.
Another important note, be sure your listing agent is accurate in entering all the information in the MLS in order for your property to be returned in the search results. Even in the remarks section be sure your agent includes key features (or key words) of the property because many agents will search the remarks for key words like; "screened porch" or "perennial" garden. Accurate spelling is important too. If your agent misspells perennial (and many do!) it won't come up.... more
Most land purchase will have a 20-30% down payment. You really should meet with a local and trusted mortgage company or bank. They can preqquailify you at no cost and let you know what programs you may quailify for and what teh down payemnt requirements are for land and what the interest rates and terms are. good luck with your purchase... more
In the Oak Park area, it's really hard to get many agents to attend brokers' opens. Most new listings have them, and usually not more than 20 agents will come through, no matter what raffle/giveaway we try. It's usually the same 20 agents at each one. We've had better luck offering a co-op bonus for a quick contract.... more
A direct answer to this question could be considered a form of steering, which is an anti-trust violation and something that a Realtor could get in a lot of trouble for doing.
With that being said, the Fox Valley offers tons of recreational opportunities in all towns. The bike path runs along the fox River from Elgin to Aurora. Every town has at least one golf course etc. You really can't go wrong here!
What are you looking for in a home would probably be a better place to start. An answer to that question could help narrow down towns or areas that would most interest you.
Do you want a condo or townhome or single family?
Are you looking for a large piece of property if single family?
New construction, existing, historic or a fixer upper?
What price point?
Start there and then explore the areas that have those types of homes and see if the amenities you are looking for are nearby.
I hope that helps!
Chris Clark... more
Agents show properties that fit their clients needs. Can you truly imagine that an agent might pass up showing your property (simply because it's flat fee), and passing up on a potential co-op commission of just over $30,000?
Your logic is a bit skewed. Just because your sister-in-law hasn't shown the property doesn't mean that she wouldn't be an excellent listing agent. It's not the job of the listing agent to show your property. That's the job of buyers agents.
The job of the listing agent is to get your home the most marketing and exposure, and make sure all the buyer's agents know everything about the property.
If your property isn't being shown, it has more to do with the market and/or your price. And unfortunately, as the owner, you're not in a position to be objective. The fact that another home is sitting in your subdivision, unsold, at $1,700,000 has no bearing. What is important is how many million dollar plus homes are selling and have sold in the last 3 months... and if any have sold, how do they TRULY compare to yours.... more
You will be both responsible for the home incase something goes bad, they will go after your father. Just as important, you may not qualify for the "First Time Home Buyer" credit that the government is offering by having your father co-sign...double check with your mortgage broker. Have you found the home you want to buy yet?... more
I can set you up right now so you can ss listings that are available in St. Charles and that are pet friendly. e-mail me at firstname.lastname@example.org or call me on my cell at 630-688-2345.
Joe - That seems like a very good price for your house and location. Is there a rent to own option? I have a number of clients looking to rent and then have the option to purchase in 2-3 years. Please let me know your thoughts on that. Also, can you email some photos to email@example.com?... more
Joe - What is your situation? There can be some serious benefits and dangers with this type of arrangement. What you really need to understand is that the mortgage will still be in your name and someone else will be making the payments. I would strongly encourage using a 3rd party payment processor to make sure the payments are getting made. Also, if you have equity in the property, what is going to happen to that? Are you going to get a payout at closing? You really need to make sure you know the financial stability of the person that will be making the payment. Remember, it's still your credit at stake. The benefit here is a faster closing and very little qualification and costs for the buyer If you would like to discuss further, email me.... more
You have plenty of options, even at a million. You're outside of the FHA limts, so you're limited to conventional loan programs. You can also get creative with the home owner to see what type of a loan they have. Otherwise I know there's a loan officer who comes on Trulia by the name of Greg Zaccagni and he's good. Hopefully he'll come on to answer your question.... more