Looking for a way to buy a home affordably?

The Illinois HOME START program offers below-market interest rates and down payment assistance to first-time homebuyers and veterans.  Eligibility for each program is based upon household income, family size and the sales price of the home.  HOME START 30-YEAR FIXED RATE LOAN is FHA insured and available at rates below the 30-year fixed market rate HOME... [Read more...]

BETTER CREDIT SCORE, CHEAPER HOUSE PAYMENT

A family put a 3.5% down payment on a $172,900 house with a resulting loan of $166,850.  Here is what their bottom line would look like… Score Rate Monthly Payment Total Cost 760+ 4.981% $893.75 $326,900 700-759 5.203% $916.50 $335,090 680-699 5.380% $934.83 $341,689 660-679 5.594% $957.22 $349,749 640-659 6.024% $1002.93 $366,205 620-639 6.570% $1062.30 $387,578 Less... [Read more...]

How is your FICO Score Calculated? And how can you Improve it?

Payment History (35%) How often you are late and by how many days, set up automatic payments to guarantee you’re  never late. Pay your bills on time and you will improve your score within months. Total Debt (30%) Higher debt loads work against you; “Usage Ratio” is the difference between what you owe on credit cards and your available... [Read more...]

FICO Scores and your Credit Report

 The Fair Credit Reporting Act guarantees you access to a free credit report from each of the 3 nationwide reporting agencies – Experian, Equifax and TransUnion – every 12 months. For a safe and secure way to obtain your free credit report start by going to www.ftc.gov. on “Free Credit Reports” and that will take you to another... [Read more...]

Ever driving by a home for sale sign and wonder

How much it is?.. Or how many bedrooms/baths it has, but don’t want to talk to anyone?.. Text DeborahCassidy to 74558 or go to http://remaxshowcase.sikku.com/app/signup/new.aspx?ipid=259941 to register. You will be sent a text with all of the information and photos too!  Read More →

Don’t Buy Your Home From Someone Who Won’t Guarantee Their Work!

Historically Realtors were not required to work with buyers under a formal buyer agency agreement. Most states now require that all real estate agents disclose agency in the form of a Consumer Notice. A real estate agent can work with a buyer in a variety of agency relationships. We work with our buyers strictly in a Buyer Agency Relationship. What... [Read more...]

9 Steps to Successful Home Buying

1.  Be qualified by a lender Being pre-qualified or pre-approved by a lender before you start looking at homes can save you time and money.  When you call us to set up a counseling session, we can recommend a top lender for you to contact before our consultation. ———- 2.  Your consultation We will go over the basics of buying a... [Read more...]

Becoming Pre-Approved

Information Needed for Your Mortage Application Copies of last 2 years W-2’s (for each borrower) Copies of most recent month’s paystubs (for each borrower) Copies of all assets: All pages of the last 2 or most recent quarterly statements including but not limited to savings, checking, money market, investment, retirement, 401K’s,... [Read more...]

First, Are you READY to Buy?

Four Big Questions: If you answer “YES” to the following questions, you are probably ready to buy a home: 1.  Do you have a steady, reliable income?       In other words, have you been employed on a regular basis for the last 2       years and do you expect to maintain employment? 2.  Do you have a good record of paying your... [Read more...]

The Basics: Extended Home Buyer Tax Credit 2009/2010

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that: Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. Expands the credit to grant up to $6,500 credit to current home owners purchasing a new... [Read more...]

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