Are you looking to purchase or refinance a home?
You are in the right spot!
Being a mortgage broker, I am able to help you check for the best possible interest rates from different lenders.
Whether you are ready to apply for a mortgage or just looking for an advice, I am always here to guide you in the right direction, so that YOU are happy and confident when making one of the biggest decisions in your life.
What is a mortgage? https://www.investopedia.com/terms/m/mortgage.asp
Interest Rate Calculator: https://www.calculator.net/interest-rate-calculator.html
Loan types comparison: https://www.consumerfinance.gov/owning-a-home/loan-options/
Current interest rates on IL market: https://www.bankrate.com/illinois/mortgage-rates.aspx
Everything you need to know about loan types:
*Maximum loan amount $484,350
*Fixed and Adjustable Rate Mortgage (ARM)
*3% down payment
*No Private Mortgage Insurance (PMI) with 80% loan-to-value (LTV)
*No up-front PMI
*Gift funds are acceptable
*Home Ready / Home Possible programs (*income limits)
*Down payment at 3.5%
*Lower interest rates than Conventional loans
*Lower credit scores accepted
*Reserve funds are not required
*Maximum seller concession is 6%
*Gift funds are acceptable
*No income limits
*Kitchen/bathroom renovation
*New addition
*New flooring
*1-4 unit properties
*Condominiums (internal repairs only)
*Townhomes (internal repairs only)
*Eligible occupancy types: Primary, Secondary, Investment
*Minimum down-payment at 3%
* $0 down payment
*Minimum credit score 580
*Maximum loan amount $453,100
*Maximum seller concession at 4%
*Gift funds are acceptable
*No income limits
*Kitchen/bathroom renovation
*New addition
*New flooring
*1-4 unit properties
*Minimum down-payment at 3.5%
*Condominiums (internal repairs only)
*Townhomes (internal repairs only)
*Eligible occupancy types: Primary, Secondary, Investment
*New addition
*Mechanical systems upgrade
Interior update
*Minimum down-payment at 3.5%
*1-4 unit properties
*Condominiums (internal repairs only)
*Townhomes (internal repairs only)
*Eligible occupancy types: Primary ONLY
WHAT TO BRING WITH YOU FOR A MORTGAGE CONSULTATION:
*Most recent two years of personal tax returns (business-if any)
*Most recent two years of W2 forms
*Most recent paycheck
*Most recent bank statement (includes any retirement and investment accounts)
*Photo identification
*Current mortgage statements (if any)