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first time buyers: Need Help with a Down Payment? - 03/22/12 10:29 AM
Need help with a Down Payment? Here is a new program that I found that can help some households become homeowners! Here's how this works - as a buyer needing help with downpayment or closing costs you must get pre-qualified by a lender that is participating.  Not all lenders do this program!  Then once you are pre-qualified from the lender and have your approval in hand we begin to look for houses that you like.  So there is 'homework' that must be completed before you can start looking at homes! So here are the particulars of this program:   The Federal Home … (0 comments)

first time buyers: The Good, The Bad, & The Ugly - Mortgage Interest Rates & the Tax Credit - News you need to know!! - 02/07/10 10:47 AM
Buyers:  Here's some good advice or ideas on why possibly 'now' is the best time to buy a home.  Obviously, you should be ready both mentally & financially but there are some benefits that you might not know about on why now is 'the right time to pull the trigger'!
We've got interest rates that we don't know what they are going to do the end of March 2010. They're the lowest they've ever been right now.
AND .... We've got that first time or repeat buyer tax credit that can help you with your future mortgage payments, some future remodeling … (5 comments)

first time buyers: Schaumburg Homes - First Time Home Buyers have FHA Loan Changes - 01/22/10 01:43 PM
FHA announced changes - how will it effect me as a buyer? OK, what I'll do is try and explain the 'new rules' for an FHA mortgage ~
The upfront mortgage insurance premium (UFMIP) will increase to 2.25 percent up from 1.75 percent. Contrary to reports, FHA will continue to allow the financing of the UFMIP. Buyers will now be charged more for mortgage insurance in case of default.  It will now cost $4500 on a $200,000 home.  ($4500 vs. $3500 = $1000 difference)  In actuality, it will not make much of a difference in your monthly payment.  In certain circumstances, … (4 comments)

first time buyers: You couldn't get a bad loan today if you wanted to... - 01/12/10 09:37 AM
 
Ahhh, the great debate over the Holidays. What really happened (according to your family & Uncle Jim) to the banking industry!  Most of the time the stories and ideas were straight out of a good novel! Ahhh, mortgage intrigue!
I've included this post for my readers from a loan officer in CA, Elvin Lorenzo who also had this lively discussion with his family over the Holidays.  Being a loan officer and 'in the trenches' he's got a good perspective on what people should now know.  And he's right!  You couldn't get a 'bad loan' such as a No Doc, No … (2 comments)

first time buyers: $8000 Tax Credit Study adds 357,000 Buyers - 10/08/09 11:41 AM
Analysis: $8000 Tax Credit Adds 357,000 Buyers
A study estimates that 357,000 buyers have been motivated so far by the $8,000 First-Time Homebuyer Tax Credit.The study by Campbell Surveys, a division of Campbell Communications, calculated the figure by comparing the number of first-time homebuyers before and after the tax credit was instituted. The percentage of first-time buyers rose from 32 percent in January and February to 43 percent for the rest of the year - except July when the rate fell to 42 percent. Campbell's Research Director Thomas Popik pointed out that this survey mirrors the numbers calculated by the … (0 comments)

first time buyers: Home Start Loan in Illinois - Home Start Advance Loan - 08/11/09 12:56 PM
New loan to help First-time Illinois Homebuyers - Home Start advances $8,000 federal tax credit to help with down payment!
CHICAGO - July 22, 2009 PRESS RELEASE
First-time homebuyers in Illinois now have an opportunity to take advantage of current low-interest rates and decreasing home prices under an innovative new program offered by the Illinois Housing Development Authority (IHDA). The Illinois Home Start Loan Program allows hundreds of residents to achieve the dream of homeownership through a new 30-year fixed rate loan, and an advance loan on the federal tax credit created by the American Recovery and Reinvestment Act of … (0 comments)

 
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Lyn Sims - Schaumburg Homes

Schaumburg, IL

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Schaumburg Real Estate - Northwest Suburbs - RE/MAX Suburban

Address: Schaumburg | Hoffman Estates | Elk Grove Village | and Roselle, IL in the Northwest Suburbs of Chicago

Office Phone: (847) 230-7324

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