Financing in 60622 : Real Estate Advice

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Merilee Dods…, Home Buyer in Sevierville, TN
Merilee Dodson answered:
Can I switch lenders after putting in an offer?
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 f ... more
0 votes Share Flag Thu Apr 7, 2016 Financing in 60622
Matt Laricy, Real Estate Pro in Chicago, IL
Matt Laricy answered:
changing lenders at offer time / prior to actually signing acceptance / new contract
You can change a lender anytime within the attorney review. Heck, people change even after.

I would get one locked up right away though. If you need a good referral, let me know.
0 votes Share Flag Mon Feb 9, 2015 Financing in 60622
Cassandra Bl…, Other/Just Looking in Crystal Lake, IL
Cassandra Blake Bajak answered:
I erroneously completed the day care form and it put us over our debt income ratio. Can I find another morgage company and leave it out.?
Having the correct loan officer to work with you and explain directly to the underwriter is key!
Www.myprospectmortgage.com/cbajak check out my page and testimonials. Good luck!
0 votes Share Flag Mon Nov 18, 2013 Financing in 60622
William Chu, Real Estate Pro in Lisle, IL
William Chu answered:
are there any institutions giving heloc loans on homes that are not primary residences?
You need a HELOC on an investment property? Call me, 708-203-2258, for a quote and to confirm your property type and owner equity is eligible for what I can provide to you.
0 votes Share Flag Wed Nov 13, 2013 Financing in 60622
Daniel Mirea, Real Estate Pro in chicago, IL
Daniel Mirea answered:
Halfway through closing, can I change lenders?
Most Likely you will push back the closing! I would suggest to call your Attorney to see how much time you have for closing and see if he can get an extension in case you need more time ... more
0 votes Share Flag Wed Sep 4, 2013 Financing in 60622
Mick Rothblo…,  in Rosemont, IL
Mick Rothblott answered:
Are 80 15 5 loans still available for condos in Chicago? What about 80 10 10?
Lebron,

First things first... Get a pre-approval. Regardless of the particular unit you are looking to purchase, you need to see what you can qualify with. The are conventional progr ... more
0 votes Share Flag Tue Nov 13, 2012 Financing in 60622
Mick Rothblo…,  in Rosemont, IL
Mick Rothblott answered:
Did I just shoot myself in the foot with my HELOC?
The first thing you wan to keep in mind is "Don't commit loan fraud". If you tell them that this is your primary home, and sign papers to that fact, you are committing fraud if the prop ... more
0 votes Share Flag Tue Nov 13, 2012 Financing in 60622
John Walin, Real Estate Pro in Libertyville, IL
John Walin answered:
New York Times Tool for Rent vs Own
Renting is a great option, to stay liquid and snatch up a house you would want to buy and live in for longer than a typical rental. It assumes liquidity of the house for sale when in f ... more
0 votes Share Flag Thu Feb 17, 2011 Financing in 60622
Chris Covalle…,  in Chicago, IL
Chris Covalle MBA, CPA answered:
I am looking for a no cost refi for a investor owned 3 flat with low payments
Hi Latimermc,

You may have some luck looking into a 7 Year ARm which may get you in the mid 4%'s depending on final loan parameters. I work out of the Bank of America office at ... more
0 votes Share Flag Wed Sep 15, 2010 Financing in 60622
Xhaferllari, Home Buyer in Saint Clair Shores, MI
Xhaferllari answered:
Any HELOC programs for investment property?
Huntington bank does it, but it charges 1% higher interest rate and it only does it in the following states:
Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia residents ... more
0 votes Share Flag Thu May 20, 2010 Financing in 60622
Rob Weber, Real Estate Pro in Lisle, IL
Rob Weber answered:
My wife and I are looking to purchase a 2/3 flat for under 350K in the 60622 area of Chicago or a condo for
I'm almost certain that only certain homes qualify for Homepath financing. As for NLS, I can't comment on financing via that route.

As for rehab funds, the 203k is a great way to go ... more
0 votes Share Flag Fri Jun 12, 2009 Financing in 60622
Maggie Layne,  in Virginia
Maggie Layne answered:
How do I figure out why my credit score isn't higher? Why can't I get decent rates, 15% do ona 300K condo?
Jeremy,

It looks like you have gotten some pretty good answers already-but I wanted to let you know one other thing..
I can tell you I have seen credit scores damaged greatly by an ... more
0 votes Share Flag Sun May 17, 2009 Financing in 60622
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