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Home Buying in Bloomington : Real Estate Advice

  • All84
  • Local Info6
  • Home Buying33
  • Home Selling3
  • Market Conditions5

Activity 39
Mary, Home Buyer in Vandalia, IL
Tue Jan 5, 2016
Mary answered:
i am to trying to find a home contract for deed with a down payment of no more 4500 around the fayette and bond counties il Help
0 votes 5 answers Share Flag
John Armstro…, Real Estate Pro in Bloomington, IL
Wed May 20, 2015
John Armstrong answered:
I'm not sure where the 8.8% # came from. On our MLS prices are stable. Prices fluctuate based on supply and demand. Currently those ratios are good. Feel free to give me a call to discuss further at 309-275-9333. ... more
0 votes 1 answer Share Flag
J P Finley, Real Estate Pro in Bloomington, IL
Fri Apr 17, 2015
J P Finley answered:
Yes, you can always put an "Offer" in an a home anytime up till closing. There are several situations which you may need to be aware of and one of those is if it is a foreclosure home, government property, or a short sale. If it is any of these banks and agencies, typically will NOT look at any other offers unless the first one is withdrawn or fails to close. Home owners who are in a short sale situation may decide to withdraw the original offer and accept yours but know that would start the entire process over with the bank.

There are potential legal consequences for the sellers if they bail from one contract to accept yours. Often this possess a significant risk of being sued by the original purchasers and if your offer doesn't bring significant reward along with it the sellers normally do not jump. They may however decide to accept yours as a back up offer and if they do be sure that they tell you the order by which that is done. You don't want the sellers to accept several back up offers only to choose which one to take. There should be an order for you to take the risk of taking yourself out of the buyers pool to wait and see. Be smart talk with your agent and more likely than not. Move on. You missed it.
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0 votes 5 answers Share Flag
Simon Campbe…, Real Estate Pro in Miami Beach, FL
Thu May 22, 2014
Simon Campbell answered:
If a buyer likes his privacy then it may be just what they are looking for. What may make a long driveway sale difficult is if the driveway is shared or if it is an easement across another parcel. In those cases, you as the seller would want to make sure that all the legal paperwork is in place and is available to the buyer. ... more
0 votes 1 answer Share Flag
Leah Bond, Real Estate Pro in Bloomington, IL
Thu Feb 6, 2014
Leah Bond answered:
Hi Pam, I agree with the other agents, you should always try to speak with a lender vs using a calculator. However, the Trulia calculator should not have the problem you described.

I sent a message to the Trulia feedback forum with your error. Hopefully, their programmers can find and correct the issue. Best of luck in your search.
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0 votes 8 answers Share Flag
Nick Butzirus, Real Estate Pro in Bloomington, IL
Thu Feb 6, 2014
Nick Butzirus answered:
Your very best bet really is MSI (Mortgage Services). They hand-pick their loan reps very carefully, and I have had great experiences with several of them. We (agents) deal with a LOT of lenders each year, and we are usually VERY careful about referrals... Each time we refer someone to another professional, we put our own reputations on the line. When you have multiple agents suggesting the same place, there's a very good set of reasons for the suggestions. Keep in mind, we (agents) do NOT get anything in exchange for these referrals. That practice is unethical, immoral, and ILLEGAL. We are only going to refer you to someone (or a specific company) if we truly feel that you will be happy there. Many of us have come to trust the folks at MSI, over the years, and we know that they work hard to take good care of you. If you would like a personal referral, I will be happy to send my favorite loan rep your direction. Just let me know.

Of course, when you find yourself ready to start your property search, please keep me in mind. My client feedback is second to none, and you can read the reviews in my Trulia profile.

Good luck with your mortgage hunt. Remember, we are all here to give advice, if you find yourself struggling. :-)

- Nick B.

309-888-HOME (4663)
... more
0 votes 4 answers Share Flag
Leah Bond, Real Estate Pro in Bloomington, IL
Thu Jan 23, 2014
Leah Bond answered:
I"ve also had great luck with Nathan Grojean and Illinois National Bank (309)557-0024. If he's not able to get the financing immediately, he has been great with helping my clients create a plan to boost their credit scores. Good luck! ... more
0 votes 2 answers Share Flag
Nick Butzirus, Real Estate Pro in Bloomington, IL
Mon Jan 6, 2014
Nick Butzirus answered:
The local bus service for the twin cities has the system map publicly available. You can find it here...

They reach just about everywhere in Bloomington-Normal, and they have pretty good hours.
... more
0 votes 2 answers Share Flag
Ashley Pimen…, Real Estate Pro in Lombard, IL
Mon Dec 9, 2013
Ashley Pimentel answered:
I would be more than happy to see what I can do to get you pre-qualified. A lender approval depends on your income, liabilities, assets and your credit report. The credit score itself isn't as important as the information on the report. I work with over 40 lenders, which allows me to provide my clients with more opportunities. We go down to 500 fico scores and offer free credit repair. If I am not able to assist you at this time, I will let you know what needs to be done to get you a loan in the future. Feel free to contact me with questions or to get started!

Thank you,

Ashley Pimentel
Market Place Mortgage
Lombard, IL 60148
Phone: (630) 217-7013
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0 votes 6 answers Share Flag
Mike Hutson, Real Estate Pro in Bloomington, IL
Tue Dec 3, 2013
Mike Hutson answered:
Use a local lender with in house underwriting. Depending on your credit and debt to income ratio's will determine what type of loan you will qualify for, also the amount down you are able to put down on the property. FHA loans will allow you to put less down if you don't have the 20% to put down on a conventional loan. There are several grants for first time homeowners. So be sure to check with a local lender. I have a buyer that just received $10K in grant money for being a veteran. I'm always available to answer questions. 309-825-6894 or e-mail me. ... more
0 votes 11 answers Share Flag
Synthia Noble, Real Estate Pro in New Lenox, IL
Mon Dec 2, 2013
Synthia Noble answered:
a buyer's agent can help you through the quagmire of buying a bank owned property. best part, since seller's typically pay the realtor commissions, the high level of service doesn't cost you anything extra. find an agent familiar with the area, full time, experienced in distressed properties - hopefully someone that is a referral from someone you trust.
happy house hunting!
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0 votes 9 answers Share Flag
David Usiak, Real Estate Pro in Bloomington, IL
Mon Jul 8, 2013
David Usiak answered:
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Wed Jun 5, 2013
Suzanne Hamilton answered:
Should be doing a 203b with repair escrow, which is allowed on a HUD property. You don't need a 203k. They are tough to get and can be problematic. If it is FHA insured, all companies should do. Check around and check with them again.

Wells Fargo and Wintrust Mortgage are good at 203k, but you will pay a higher rate, etc.
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0 votes 2 answers Share Flag
Mike Hutson, Real Estate Pro in Bloomington, IL
Fri Apr 19, 2013
Mike Hutson answered:
Grant money is great for first time buyers. The short answer is yes! New FHA requirements require PMI for the life of the loan. There are better programs out there if you have the right credit scores. Fannie Mae my community conventional loans might be a better choice. ... more
0 votes 3 answers Share Flag
Greg Zavitz, Real Estate Pro in Bloomington, IL
Tue Jan 8, 2013
Greg Zavitz answered:
Try giving Keith Thompson a call. He is a loan officer at Mortgage Services in Bloomington IL. His # is 309-664-7088. He would be able discuss with you the steps you can take to improve your credit.
Greg Zavitz Broker/Agent @ 309-275-4734
... more
0 votes 7 answers Share Flag
Stephen Stev…, Real Estate Pro in Bloomington, IL
Thu Dec 27, 2012
Stephen Stevens answered:
Dee, I totally agree with Greg. You didn't mention where you were buying a home though. If in the bloomington area we do use the two step process of buying a home. Our purchase agreement is a legal contract. If you were my client I'd suggest that you get legal advice and I would provide an Attorneys name to you. ... more
0 votes 4 answers Share Flag
Greg Zavitz, Real Estate Pro in Bloomington, IL
Mon Nov 12, 2012
Greg Zavitz answered:
Yes, you probably could do another FHA, if you qualify under the relocation exception... but I am a Realtor and not a mortgage lender. My advice would be to talk to someone knowledgeable in FHA guidelines (Keith Thompson @ 309-664-7088) and get your questions answered. If you decide to sell your rental home here, then you could apply for FHA financing on your new home where you live now. Please contact me if that is something you would like to discuss. I have been marketing homes for over 27 years here in Bloomington Normal. (I made the assumption that you moved from Bloomington to somewhere else, if that is incorrect, my apologizes... I would still love to help you either way) Greg Zavitz-Coldwell Banker-309-275-4734 ... more
0 votes 4 answers Share Flag
Bryan Dillow, Real Estate Pro in Bloomington, IL
Tue Sep 18, 2012
Bryan Dillow answered:
Hello Missy,
I have worked for a large national lender, headquartered right here in Bloomington, going on seven years. There are a few different options that may work for your family. Send me an email or contact me in the morning. I would like to forward you more information on the products I think will work for you.
Have a great night!

Bryan Dillow
Keller Williams Realty Bloomington
... more
0 votes 2 answers Share Flag
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