advice: How to Buy a Great House – Neighborhood Factors for Single-Family Homes: #1 of 8 - 01/07/09 02:52 AM
There are many factors to consider when selecting a neighborhood that is right for you.  The previous and following posts list just a few of the many factors -- you may think of others that are important to you.
1.  Look for things like access to major thoroughfares, highways, and shopping. 
 
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: How to Buy a Great House – Neighborhoods #4 of4 - 12/22/08 03:30 AM
There are many factors to consider when selecting a neighborhood that is right for you.  The previous and following posts list just a few of the many factors -- you may think of others that are important to you.
SCOUT THE NEIGHBORHOOD!
It is important that you scout the neighborhood in person.  You live in more than your house. 
•§        Look carefully at how well other homes in the area are being maintained; are they painted, are the yards well cared for; are parked cars in good condition, etc.
 
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advice: How to Buy a Great House – Neighborhoods #3 of 4 - 12/19/08 06:21 AM
There are many factors to consider when selecting a neighborhood that is right for you.  The previous and following posts list just a few of the many factors -- you may think of others that are important to you.
SCOUT THE NEIGHBORHOOD!
It is important that you scout the neighborhood in person.  You live in more than your house. 
•§        Drive through the entire area at different times of the day, during the week and on weekends. 
 
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two … (0 comments)

advice: How to Buy a Great House – Neighborhoods #2 of 4 - 12/18/08 01:48 AM
There are many factors to consider when selecting a neighborhood that is right for you.  The previous and following posts list just a few of the many factors -- you may think of others that are important to you.
SCOUT THE NEIGHBORHOOD!
It is important that you scout the neighborhood in person.  You live in more than your house. 
•§        Talk to people who live there. 
 
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: How to Buy a Great House – Scouting Neighborhoods: #1 of 4 - 12/15/08 03:31 AM
There are many factors to consider when selecting a neighborhood that is right for you.  The following posts will list just a few of the many factors -- you may think of others that are important to you.  Different neighborhoods have characteristic personalities designed to best suit single people, growing families, two-career couples, or retirees.
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: The Ten Commandments: When Applying for a Real Estate Loan -- #10 - 11/27/08 01:18 AM
10.  Thou shalt not co-sign a loan for anyone.
 
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advice: The Ten Commandments: When Applying for a Real Estate Loan -- #9 - 11/25/08 03:45 AM
9.  Thou shalt not change bank accounts.
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: The Ten Commandments: When Applying for a Real Estate Loan -- #8 - 11/22/08 06:33 AM
8.  Thou shalt not make large deposits without first checking with your loan officer.
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: The Ten Commandments: When Applying for a Real Estate Loan -- #7 - 11/18/08 04:16 AM
7.  Thou shalt not originate any inquiries into your credit.
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: The Ten Commandments: When Applying for a Real Estate Loan -- #6 - 11/14/08 03:30 AM
 6.  Thou shalt not buy furniture.
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: The Ten Commandments: When Applying for a Real Estate Loan -- #5 - 11/13/08 02:30 AM
 5.  Thou shalt not omit debts or liabilities from your loan application.
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: The Ten Commandments: When Applying for a Real Estate Loan -- #4 - 11/11/08 01:28 AM
4.  Thou shalt not spend money you have set aside for closing.
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: The Ten Commandments: When Applying for a Real Estate Loan -- #3 - 11/10/08 04:17 AM
 3.  Thou shalt not use charge cards excessively or let your accounts fall behind.
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: The Ten Commandments: When Applying for a Real Estate Loan -- #2 - 11/06/08 02:27 AM
 2.  Thou shalt not buy a car, truck or van (or you may be living in it)!
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: The Ten Commandments: When Applying for a Real Estate Loan -- #1 - 11/05/08 02:02 AM
 1.  Thou shalt not change jobs, become self-employed or quit your job.
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: Pre-Qualification and Pre-Approval – Page 5 of 5 - 10/30/08 06:53 AM
QUALIFYING FOR THE MORTGAGE:
Most lenders require that your monthly payment range between 25-28% of your gross monthly income.  Your mortgage payment to the lender includes the following items:
The principal on the loan (P) The interest on the loan (I) Property taxes (T), The homeowner's insurance (I).  Your total monthly PITI and all debts (from installments to revolving charge accounts) should range between 33-38% of your gross monthly income.  These key factors determine your ability to secure a home loan: Credit Report, Assets, Income, and Property Value.
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advice: Pre-Qualification and Pre-Approval – Page 4 of 5 - 10/29/08 06:03 AM
CLOSING COSTS:
You will be required to pay fees for loan processing and other closing costs.  These fees must be paid in full at the final settlement, unless you are able to include them in your financing.  Typically, total closing costs will range between 2-5% of your mortgage loan. 
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: Pre-Qualification and Pre-Approval – Page 3 of 5 - 10/28/08 02:55 AM
DOWN PAYMENT REQUIREMENTS:
Most loans today require a down payment of between 3.5% and 5.0% depending on the type and terms of the loan.  If you are able to come up with a 20-25% down payment, you may be eligible to take advantage of special fast-track programs and possibly eliminate mortgage insurance.
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: Pre-Qualification and Pre-Approval – Page 2 of 5 - 10/27/08 08:07 AM
HOW MUCH CAN YOU AFFORD?
There are three key factors to consider: 
The down payment  Your ability to qualify for a mortgage The closing costs associated with your transaction. Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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advice: Pre-Qualification and Pre-Approval – Page 1 of 5 - 10/25/08 10:15 AM
In the Chicago area, it is customary for buyers to get a full pre-approval from a lender before they find the home they want to buy.  Why?
A seller may choose to make concessions only if they know that your financing is secured. You can select the best loan package without being under pressure. Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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