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Home Buying in Geneva : Real Estate Advice

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  • Local Info2
  • Home Buying6
  • Home Selling2
  • Market Conditions1

Activity 6
Fri May 15, 2015
Hi Peggy,
It depends on what type of loan you are seeking. The shortest waiting period is for a VA loan (you must be a veteran of the armed forces with eligibility). That waiting period is only 2 years from the short sale date on your credit report.

For those who aren't veterans, FHA offers the next shortest waiting period and that is 3 years after the short sale date reflected on the credit report.

Finally, on a conventional loan the waiting period is 4 years.

Hope this helps!
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Tue Mar 4, 2014
Melinda Brandli answered:
I would highly recommend Dennis O'Brien or Clark Andrews with Baird Warner in St. charles. The office is on the borderline of Geneva and the corner of britcher and randall rds. They have lived in this area for over 50 years and are both very honest and knowledgeable men who are respected by all. ... more
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Sat Feb 8, 2014
Hi John, The first step in your home-buying process should be to get pre-approved for a mortgage so that you know what purchase price/loan amount a lender will allow for you. You will also want to be sure that your housing payments fit within your budget. You may be pre-approved for a certain amount, but those payments may fall out of what you want to pay each month. You also want to get your credit reviewed ASAP to identify any issues upfront that may need to be resolved. There are other factors to consider... if you are self employed or receive 1099 income, this needs to be reviewed carefully. Bonus and commissioned income should also be carefully reviewed upfront because lenders want to see a consistent amount being made going back 2 years. Contact me ANYTIME with your mortgage questions. 630-890-3599.

Good Luck :)
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Sat Aug 10, 2013
Stephen Lane answered:
Depends if your in the city limits or out but the actual number for in town is 8.98 of the EVA. In Mill Creek (a large community out of the city limits) its about 9.55. The local realtors used to use about a 2.3% number (of asking/listing or selling price for quick math) that worked in the past but not so much any more as the values have dropped but not the taxes, they are up. But a 500K home is about 12-14K in taxes.
Let me know if i can help
steve lane
singular properties.
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Sat Aug 10, 2013
Evelyn Santiago answered:
My collegue is correct regarding 39W384 W. Mallory in Geneva sold for $337,500 in 9/12.

Currently there is a two homes available on that street - one for $299,900 and $335K. If you are interested in that neighborhood and have been pre-approved I would be happy to set up a showing for either home.

Feel free to contact me and we can discuss this. There are no homes in Geneva anywhere close to that price range. The lowest priced home is $109K.

Hope this helps!
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