Down Payment Crisis?

Is there a down payment crisis for home buyers today? Not necessarily.

Although some of the most lenient loan programs have been eliminated, there are still loans available with low down payment requirements. FHA loans require only a 3% down payment and VA loans require no down payment.

The best advice is to talk to a lender. Some lenders are mortgage brokers, meaning they don't keep your loan. They have to sell your loan to someone else, consequently they may not have the same flexibility as a lender who will keep your loan.

Either route can work but don't tell yourself you can't buy a home based on what you're hearing in the press. Talk with a lender.

Carbon Footprint and Green Building

In your search for a new home or townhome in the Chicago area, how important is "green" building in your buying decision?

If it's important, how much of a premium would you pay to be more "green"?

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President Obama and the Buyer's Tax Credit

Will President Obama extend the first time home buyer tax credit past December of this year? No one knows. The federal government has been spending money at a very high rate since the beginning of the year and there may be significant pressure NOT to extend the program. As the saying goes, strike while the iron is hot. Take advantage of this exceptional incentive now, while mortgage interest rates are low. Low rates and $8,000 in free money is a great combination!