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Financing in Chicago : Real Estate Advice

  • All5K
  • Local Info378
  • Home Buying1K
  • Home Selling273
  • Market Conditions100

Activity 348
Tue Nov 13, 2012
Joe Schiller answered:
come into my office and you will be treated like gold..I have the best lenders in America..100's of deals tell me so!
0 votes 3 answers Share Flag
Mon Nov 12, 2012
Matt Laricy answered:
Call Tony Lupescu at 708-351-6416. He may not be able to help, but I can bet hes got someone he can recommend you.
0 votes 2 answers Share Flag
Mon Nov 12, 2012
iMove Chicago answered:
Contact our office. We presently have 6 single family homes in Skokie area. We can discuss exactly what is going on with your parents. The office is open tomorrow from 10am til 5pm. Give us a call and we can chat.


Rusty A. Payton, Broker
iMove Chicago
5650 N Broadway
Chicago, Illinois 60660

773-961-8819 [Office]
773-289-0806 [Fax]
773-682-5210 [Mobile]

e. payton@iMoveChicago.com


www.iMoveChicago.com

blog: iMoveBlog.com
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0 votes 7 answers Share Flag
Tue Nov 13, 2012
Ron Thomas answered:
It sure sounds like it!
How about contacting someone other than Chase?
0 votes 7 answers Share Flag
Fri Nov 30, 2012
Joe Schiller answered:
G rate is awesome.. Michelle Bobart on the internet
0 votes 11 answers Share Flag
Mon Oct 29, 2012
Matt Laricy answered:
Hard money loans are tough to come by. I would speak to a lender and see what your options are
0 votes 6 answers Share Flag
Sun Oct 28, 2012
David Hanna answered:
I have two suggested paths to follow-
1. FHA purchase / refinance
2. Local community bank lender

The challenge is not finding the loan programs, it is does the borrower fit the criteria for the loan.
The cash flow and building value are going to take a back set to the credit worthiness of the borrower as viewed by the lender.
A community bank is your best bet for a loan based on the story behind the borrower and the need for the cash. If the loan is held in a portfolio, the bank can show some discretion in the underwriting.

Try in Chicago-
Lakeside Bank
Belmont Bank\
North Community Bank
First Chicago Bank and Trust
MB

Good luck.
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0 votes 9 answers Share Flag
Fri Apr 12, 2013
Wanda Monterrubio answered:
Whether you can get any loan is determined by your credit. You can talk to a reputable mortgage broker to find out if you qualify. If you own your home, you may also use a home loan in order to make an investment in another property. Good luck! ... more
0 votes 5 answers Share Flag
Tue Oct 2, 2012
Matt Laricy answered:
With 203k there is tons of paperwork, so thats pretty standard. With the lead base paint, I havent ran into that before on a 203k, but I wouldnt be surprised by it.
0 votes 6 answers Share Flag
Wed Sep 26, 2012
Joe Schiller answered:
call the broker you did the deal with or call my girl- Michelle- VP lending at G rate.. mbobart@guaranteedrate.com
0 votes 12 answers Share Flag
Fri Aug 5, 2016
Philip Sencer answered:
0 votes 19 answers Share Flag
Thu Sep 6, 2012
Matt Laricy answered:
I dont think you will find a loan for 5940. I would speak to lenders, but I doubt it.
0 votes 3 answers Share Flag
Sat Aug 25, 2012
Matt Laricy answered:
Wed Aug 22, 2012
Alison Hillman answered:
Hey Natalie-

You can check out lenders right here on Trulia: http://www.trulia.com/voices/directory/Chicago-mortgage_broker_or_lender--9158

I hope this helps, please let me know if you have additional questions!

Cheers,
Ali, Community Manager
... more
0 votes 4 answers Share Flag
Wed Aug 15, 2012
Chicago Mortgage (JP Marzano) answered:
Yes, it is possible. The association representative would have to fill out a condo questionnaire to see the entire condo situation.I'd be happy to help you guys with this. Give me a call/email or let me know how to contact you if you'd like.

Thanks!

JP

JP Marzano
Senior Loan Officer -Chicago Financial Services
1455 W Hubbard St Chicago, IL 60642
312-204-6556- office
312-608-1555 - mobile
jpmarzano@cfsmortgage.com
www.themortgagecall.com
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0 votes 10 answers Share Flag
Tue Aug 7, 2012
Philip Sencer answered:
You probably are in violation of some rules, but it would take you a month to read all the rules and paperwork on an FHA loan. If the lender does a last minute review of your credit/finances they might find out that you have a new mortgage and that would kill your refi deal. If they do not check then you probably will get away with it.
While in theory, you should contact an attorney to discuss your legal aspects of this, from a practical standpoint, people rent out their FHA loaned property all the time. The bank does not pay any attention as long as you pay the mortgage.
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0 votes 12 answers Share Flag
Mon Nov 18, 2013
Scott Godzyk answered:
You could get copies of your canceled checks to prove what you actually paid, if they do not accept it, try another mortgage company that is both local and trusted.
0 votes 7 answers Share Flag
Fri Jul 27, 2012
Steve Smither answered:
Honestly Tupper since you own the property outright even though it is a 6 unit you should look into just getting a cash out to pay for the rehab work. Due it it being a commercial deal just contact your local bank or better yet if you have a business account with a bank speak to them first. Good luck in your search...


Steve Smither
Milestone Mortgage
ssmither@ardain.com
847-942-5151
www.chicagomortgagerateinfo.com
www.facebook.com/chicagomortgagerateinfo
... more
0 votes 4 answers Share Flag
Fri Jul 28, 2017
Fred Glick answered:
Just asking this question will not get you the answer you are looking for.

There are what are called "hard Money' lenders out there but they will only do the deals for investors with a lot of equity.

If that is the case, you can talk to a local mortgage broker to find them.

If you want it for your primary home, you'll have to have a lot of equity and someone personally willing to lend you the money possibly out of their 401k.

Since we don't know details, it's hard to help you but good luck.
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0 votes 24 answers Share Flag
Thu Jul 5, 2012
Philip Sencer answered:
Obviously be very careful if you want to deal with a private lender. Have an attorney review all paewprk before you sign anything.
0 votes 4 answers Share Flag
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