Conventional mortgage rate

4 Things You Should Know About Conventional Mortgage Rates

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By Kurt Clements Securing the best conventional mortgage rate possible can pose a challenge for even veteran property buyers. Your mortgage rate will be determined by a variety of factors that pertain to your unique financial portfolio as well as economic forces. While no one has full control over all of the things that influence the process, understanding the manageable aspects …

What Important Items Can Upset My Chicago Mortgage Pre-Approval Status?

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When you are purchasing a home, your lender may recommend you obtain a Chicago mortgage pre-approval before you find the home of your dreams. There are some benefits to being pre-approved before you find a home, but oftentimes, people confuse pre-qualifications with pre-approvals. So the question many buyers have is what exactly is a mortgage pre-approval? In a nutshell, it’s …

7 Tips To Plan A Spring Yard ‘Tune-Up’ Before Listing A Chicago Home For Sale

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The oft-repeated maxim that there is never a second chance to make a great first impression is especially true when it comes to real estate. Street appeal may focus on a dramatic approach to the front door, but prospective buyers will be especially “wowed” by a Chicago home with an appealing back yard Early spring is the perfect time to add …

Can I Have A Co-Signer For My Chicago Mortgage Loan?

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Like credit cards or car loans, some allow borrowers to have co-signers on the Chicago mortgage loan with them, enhancing their application. However, a co-signer on a mortgage loan doesn’t have the same impact that it might on another loan. Furthermore, it poses serious drawbacks for the co-signer. Mortgage Co-Signers A mortgage co-signer is a person that isn’t an owner …

Should You Improve Your Chicago Home Before Selling Or Not?

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Selling your Chicago home is one of the most stressful things you’ll ever go through and one of the most important decisions you’ll ever make. However, there’s a lot more to selling your home than just sticking a sign out in the front yard. Most likely, your home will need a little work before it is perfect. Therefore, you’ll have …

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. …

What Are The Three Mindsets To Use When Purchasing A Home?

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Purchasing a home can produce a world of emotions. These emotions are known as the three P’s – Patience, Persistence, and Pride. Patience, Persistence, and Pride are the three mind sets that you are going to use a lot when taking on the challenge of becoming a homeowner. Even if you have perfect credit and a big down payment you …

Should I Rent or Buy a Home?

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Renting Vs Buying. This can be a difficult decision to make. It requires you to carefully examine the factors and costs associated with each option. Which is better? That depends. Your unique economic situation, lifestyle and goals play the largest part in deciding what is better for you. It’s important to go into your calculations with open eyes. As much …

Things You Shouldn’t Do When Buying a Home

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Avoid these 9 homebuying mistakes. The last thing in the world you would ever want is to spend a bunch of time searching for a home, finding that perfect place and then not being approved for your mortgage. There are also many common mistakes homebuyers make that could make the process much more painful than it has to be. We’re …