Did you know, young buyers are more qualified today than their parents were, and here's what to know! Money is half the cost for Millennials than it was for their parents. A $50,000 loan then is the same cost per month as a $100,000 loan now (simple math on lower rates). Also, the percentage of [...]
On June 30, 2015 Fannie Mae released some major improvements to their guidelines. Download the changed Fannie Mae Guidelines here. The biggest change that helps homebuyers is the new no equity in departing home guideline that will help a ton of buyers get out of an old home with no equity requirement (even if the [...]
When you want to own your own home but don’t have the capital required to do so, a mortgage is your best option. A mortgage is a type of loan that allows you to have your own home and thus be a homeowner. After being approved for a mortgage, the homeowner slowly pays off the [...]
What it means to be pitched Par Rate. The definition of 'Par Rate' when dealing with a residential mortgage is the base interest rate you qualify for relative to all of the following factors: fico credit rating, down payment percentage amount, type of home (single family, condo, townhouse, etc.), type of mortgage product (fixed vs. [...]
Whether it’s an unfinished loft in South Loop or a diamond-in-the-rough single family home in Naperville, buying and fixing up a property can be a real money maker. The listing for such a property always lures in extra buyers when the possibility of finding a property that, with just a little touch-up, can be worth [...]
Baird & Warner is done chewing on the surface and ready to spit out the launch of their new online home buying search tool. With more profound lifestyle search options, B & W will give buyers better results in their online home buying and searching experiences. Utilizing feature settings going beyond the direction buyers want their home to face (North, South, East or West,) [...]
Freddie Mac launched a sales promotion for its inventory of foreclosed homes in select states. Under the HomeSteps Winter Sales Promotion, HomeSteps will pay up to 3% of the final sales price towards the buyer's closing costs and a $1,000 selling agent bonus for initial offers received between Nov. 15 and Jan. 31, 2012. Freddie Mac [...]
A very close friend of mine sent me this video and I had to share it with the rest of you...