preapproval: Credit Scores Under 600? Check Out Wells Fargo FHA Loans. - 02/05/11 04:27 PM
Credit Scores Under 600? Check Out Wells Fargo FHA Loans.
Wells Fargo is now accepting FHA mortgages with credit scores under 600.
Effective Jan. 15, 2011, Wells Fargo will accept Federal Housing Administration (FHA) mortgages for borrowers with credit scores as low as 500.
If you'd like to take advantage of the great prices for a home right now and the low mortgage rates, but you're wondering if you can buy a home with your credit score ... check this out from www.realtor.org:
"Housing Report: Wells Fargo to Accept FHA Mortgages with Credit Scores Under 600.
… (2 comments)

preapproval: You're Ready to Buy a Home: Step 1 - 01/08/10 04:33 PM
You're ready to buy a home, what's the first step?
The first step to buying a home is to meet with a loan officer and to get pre-approved for a home mortgage.
A loan officer can discuss with you the different home loan programs available to you and more importantly, what your approximate monthly home mortgage payment will be.
An important consideration to remember if you're using an online home mortgage calculation tool is the cost of property taxes. Another additional cost will be homeowners insurance and if needed, private mortgage insurance.
Here is a brief list … (0 comments)

preapproval: Mortgage Rates Remain Low - 03/23/09 05:11 PM
If you're wondering if this is a good time to buy a home, the answer is yes.
Mortgage rates remain historically low and there is still a large inventory of homes for sale.
Check out current mortgage interest rates below from the Zillow Mortgage Marketplace chart. I have an additional Mortgage Calculator from Zillow placed below as well.
Remember, the first step in buying a home is to be pre-qualified for a home loan with a mortgage company or bank.
If you need a referral to a reputable, local loan officer - please send me an email … (0 comments)

preapproval: Winter Home Buying - 01/02/09 11:38 AM
Through my REMAX website, a monthly newsletter is published. This article is from the January Real Estate Advisor.
Home buying advantages in the "slow" season.
Winter is often considered a slower season for real estate. The demands of the holidays and less-than-perfect weather conditions typically lead to fewer listings and fewer buyers searching the market. The relatively quiet winter real estate market can actually be a great opportunity for motivated buyers for 3 main reasons:
Sellers who list their homes during this period are usually highly motivated. They may be relocating for work or may be in the … (0 comments)

preapproval: A New Home in 2009 - 12/17/08 04:54 PM
Are you thinking about a new home in 2009?
If a move is in your future, the first step in home buying is to get pre-approved for a home mortgage. With the recent changes in the economy, the lending requirements have changed as well. The good news is that interest rates are currently at a historically low rate.
If you need a referral for a loan officer, you can give me a call or send me an email, and I can refer you to an experienced loan officer. You need to know what kind of mortgage you qualify for … (0 comments)

preapproval: High School Homeownership Education - 11/12/08 01:22 PM
Effective January 2009, Senate Bill 2387 (Public Act 95-0863) requires that school officials add homeownership education, including lessons on mortgages to their consumer education curriculum.
The Senate gave its approval to Senate Bill 2387. This bill adds homeownership, including the basic process of obtaining a mortgage and the concepts of fixed and adjustable rate mortgages, subprime loans, and predatory lending, as a component of consumer education courses taught in Illinois high schools.
As a licensed real estate professional, I believe this is a good addition to consumer education.
One of the very first steps in buying a home … (0 comments)

preapproval: Your Credit Score: 5 Key Factors - 07/20/08 02:10 PM
You're looking for a home and you need a mortgage. You want the best interest rate for your mortgage that is available. What determines the interest rate you qualify for? Your credit score does.
Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:
1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.
2. How much you owe. If you owe a great deal … (0 comments)

preapproval: Get Prequalified or Get Preapproved? - 07/15/08 02:24 PM
If you're considering the purchase of a new home, you may be concerned with the issue of finance. Attaining the right mortgage is a key step in the home buying process, but it doesn't have to be a stress-inducing one.
Most lenders offer prequalification, pre-approval or both to help you know where you stand.
Let me explain the difference between prequalification and preapproval:
Prequalification: Prequalification is a preliminary estimate of how much you can afford to pay for a home based on information you provide. Because credit and employment information aren't validated for prequalification, it can only be … (0 comments)

preapproval: Are You Ready? - 05/30/08 07:50 PM
If you find the right home - are you really prepared to make an offer?
You need to be pre-approved for a mortgage, so we know what price range to shop in and to be confident that you will qualify for a home mortgage.
But outside of the financing, have you prepared yourself mentally to make an offer on a home?
Buying a home is typically one of the largest investments a person will make. You need to be sure that this is what you want to do. I am always happy to take the time to discuss … (0 comments)

preapproval: An Eye for Numbers - 05/12/08 09:28 PM
Your credit score, not just another ordinary number.
Whether you are thinking of buying a home now, in the future or even if you already own a home - it is a good idea to keep track of your credit score.
A better credit score will allow you to receive a better interest rate on your home mortgage. So, again - if you are thinking of buying a home now or later, you will want to have a good credit score. If you already own a home, you may want to refinance someday or eventually move and buy another … (0 comments)

 
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Jim Starwalt - Grayslake Real Estate Agent

Grayslake, IL

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Address: 100 N Atkinson Road, Suite 106, Grayslake, Il, 60030

Office Phone: (847) 548-2625

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Jim Starwalt
Call: (224) 627-7581
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