3 Tips To Consider When Buying A Chicago Home With An FHA Mortgage

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FHA loans are becoming increasingly popular these days as potential homeowners may not able to qualify as easily for conventional mortgages. The FHA insures some higher-risk loans, in turn allowing borrowers with low down payments and less than perfect credit to purchase a Chicago home and bolster the housing market. However, while getting through the loan process with an FHA …

3 Great Homebuying Tools Chicago Millenials Have Available to Them Right Now

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The economy seems to be heating up rapidly, but home loan interest rates are still at historically low levels. Real estate values have climbed a bit across the country, but low interest rates and affordable prices makes for an excellent opportunity for Chicago Millenials to get into their first home before it rates and prices rise higher. According to the …

When Is the Right Time to Buy Your First Chicago Home? Use This Easy 4 Point Checklist

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Are you growing tired of renting? Or perhaps you’ve recently graduated from college and are looking to set down some roots? Whatever the case, buying your first Chicago home is an exciting prospect. Let’s take a look at a quick and easy four-point checklist that you can use to determine if you are ready to buy your first home. #1: …

The 4-Step Financial Checkup to Get Ready for a Mortgage This Year

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Are you ready to join the ranks of owning a Chicago Home in our local community? Congratulations – homeownership is a big step towards building your net worth and financial freedom. However, it is also a significant transaction that will affect your finances for the foreseeable future. Let’s take a look at a quick four-step checklist that will help you to …

Sellin’ Ain’t Easy: 4 Reasons Why You Will Want to Engage a Professional Real Estate Sales Agent

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Are you listing your Chicago home for sale this year? If so, you may be wondering just why you need the services of a real estate agent. Sure, it is theoretically possible to handle the entire process yourself and be successful. However, if you’re inexperienced, you may end up stumbling. Let’s explore four reasons why you will want to enlist …

YOU ARE ‘UNDER CONTRACT’ TO PURCHASE YOUR NEW HOME! Now What?

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This is our sixth entry in our ‘Now What?’ blog series designed to help those people that want toown a Chicago home, but have no idea what to do. You Are ‘Under Contract’ To Purchase Your New Home!  Now What? Now that you are ‘Under Contract’ to purchase your new home a variety of things are happening all at once – …

What You Need to Know About Mortgage Insurance

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Homeowners insurance and title insurance may not be the only kinds of insurance you need when you buy a Chicago home. Many buyers also have to purchase mortgage insurance, which lenders require for mortgages with a down payment of less than 20 percent. Take the time to understand what you’re buying and how long it will affect you. Mortgage Insurance …

Questions and Answers Regarding Escrow Accounts

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Whether you are purchasing a new Chicago home or you are considering applying to refinance your home, chances are the lender will require an escrow account. These accounts are often a source of confusion for homeowners. In reality, these accounts benefit the homeowner and help protect the lender. What is an escrow account? Escrow accounts are sometimes called “impound” accounts. …