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60622 : Real Estate Advice

  • All99
  • Local Info6
  • Home Buying52
  • Home Selling8
  • Market Conditions1

Activity 87
Fri Sep 8, 2017
Amyshields asked:
2039 W Thomas St, Chicago IL 60622
Open houses
9/9 11am - 1pm
9/10 10am - 12pm
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Thu Jun 15, 2017
Lukas Kucinski asked:
Hi,

I'm trying to map some of your real estate data for a community gardening project. I would like to access your API via GitHub, but I require an API key. Is there any chance…
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Mon Jun 5, 2017
answered:
Hi Mereh1,

Unfortunately FHA updated their guidelines last year to make it more difficult for people to have more than one FHA mortgage at a time.

Here's what I mean. FHA now requires that you have 25% equity in the home that already has the FHA mortgage on it in order to be eligible for a 2nd FHA mortgage.

Prior to this change, FHA didn't have the 25% equity requirement as long as you were moving at least 100 miles away from the current home for work or to find work.

If you're going to sell your home in California & you want to buy a new home here in Texas you can apply for a new FHA mortgage & it's no big deal.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
jburke@gpbankTX.net
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
(877)228-9069
NMLS# 787231
http://www.trulia.com/mortgage-lender-profile/MTG%20Banker/#reviews
... more
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Wed Jan 18, 2017
Davistracy2004 asked:
Sun Jun 26, 2016
Bob Brandt answered:
Based on these facts, it should be ok to rent out your property and keep the FHA mortgage. You may want to double check with your attorney or read the mortgage you signed.
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Fri Jun 24, 2016
Paul answered:
Use InBedrock.com to help educate on all real costs of homeownership, including purchase price, improvements, title + HO insurance, RE taxes, mortgage financing options + after-tax implications, utility costs and eventual selling costs of 6% realtor commission + state transfer taxes. InBedrock.com provides in-depth, easy-to-understand analysis on financial decision of Buying v Renting v Investing in stocks. Find out actual # of years until break even on all costs of investing in a house vs renting. Get educated today with InBedrock.com before you make biggest investment of your lifetime. InBedrock.com ... more
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Thu Apr 7, 2016
Merilee Dodson answered:
I made an offer on a house after receiving a pre approval letter from a lender. I have perfect credit. Now I have spent the last 60 days waiting for my closing because I can not get a final approval from underwriting with the bank I am working with. I had appraisal done and that resulted in me spending $400 on stair rails. Now underwriting says they don't like the comparables that were used in the appraisal and are asking me to pay another $600 for a new appraisal. My question is this. If I change lenders can I use the appraisal and inspection I have already paid for or will I have to start all over and pay for all these things again. How does one "shop for a loan" when you don't know if you are truly approved until you lay out money for these things? So far I have spent $2500 and still do not have a yes for my mortgage even after being given a pre approval letter. I am currently renting and have demonstrated that I can pay more than my monthly mortgage payment will be and have a very high credit score. I have a house in another state that is providing additional income but they made me get an appraisal on that one too. Does this sound right? I am starting wonder if I am getting ripped off. Please help. ... more
0 votes 20 answers Share Flag
Tue Nov 10, 2015
Kathy Lewis answered:
likely referring to monthly MI. Yes, the USDA loan is lower, by nearly 40%.

USDA Mortgage Hub
100% USDA Rural Housing Loans
Serving all 50 states
Ph: 800-691-8826 (7 days a week)
www.UsdaMortgageHub.com
... more
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Sat Oct 10, 2015
Pebbleswing15 answered:
Interested in a home that was foreclosed and abandoned but the auction was canceled in april and still not on market,how do I get the house or can I?
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Fri Aug 14, 2015
Mark Saunders answered:
yes but the better the credit = better rate
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Fri Aug 14, 2015
Mark Saunders answered:
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Fri Apr 24, 2015
Matt Laricy answered:
I hear you, but the market is hot. And builders can call the shots. If he holds out a little longer, he will probably get over list price. Once a house is further along, buyers see the potential and will pay more. The attraction to the builder is he has a bird in hand now, so hes willing to sell, but to give 10k off list, he wont do. (essentially, 10k in closing costs is 10k off price. Money comes from somewhere) ... more
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Sat Apr 4, 2015
Bob Brandt answered:
FHA mortgages are not for buying income property. It is to live in. Someday later you can rent it out.
A lender may some better ideas for you.
0 votes 1 answer Share Flag
Fri Mar 27, 2015
Galia Taneva answered:
Kelsey,

You may want to talk to your agent about this issue. You probably didn't realize but you posted your question in a "Home selling in 60622" forum and Trulia will never answer it. ... more
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Mon Feb 16, 2015
Bob Brandt answered:
A good local Broker could end up putting more money in your pocket with better representation and a good closing attorney will make sure the legal details are covered. Good luck.
0 votes 7 answers Share Flag
Tue Feb 10, 2015
aaaa answered:
If it's a chapter 7 bankruptcy you would have to wait 2 years after it's been discharged. Chapter 13 is 1 year after it has been discharged. Best solution contact a lender and get pre-approved.

BJ Patel
Loan Originator (IL)
NMLS #1270313
1430 Branding Lane Suite 190
Downers Grove, IL 60515
Office: 630-423-3600 xt. 5711
Cell: 630-337-5877
Fax: 815-301-8309
bpatel@myccmortgage.com
www.myccmtg.com
... more
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