Friday, June 26, 2009

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.

Thursday, June 18, 2009

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"?

Check out our new landing page;

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!

Wednesday, April 22, 2009


Are you considering buying a foreclosed home? A foreclosure may be a good deal or a really, really bad deal. The problem is that you usually don't know if it's a bad deal until it's too late.

If an owner was unable to make the payments on his or her home, how likely do you think it is that they made all the necessary repairs and performed the maintenance to keep the home in good shape? How much will you "save" on buying the foreclosed home vs. how much will you have to spend to make that home livable? Keep in mind, $25,000 to fix up a foreclosed home costs you $25,000 but $25,000 in purchase price only costs you about $140 per month at today's mortgage rates.

When buying a home, look for the best value not the best deal. What is important for you and your family excluding price? Start there then find a home that matches that criteria at a price you can afford. Mortgage interest rates are incredibly low, stretching your buying power. Now is definitely the time to buy but you have to buy right.

Monday, November 17, 2008

Remodeling Plans?

Do you have remodeling ideas for your home but don't know how to get started? The easiest way to get started is to meet with a reputable designer/contractor and share your thoughts.

Our custom home and remodeling company offers a complimentary 1 hour session for homeowners. This meeting can take place in your home or at our office. We talk about your ideas, tastes, objectives, how you live now, how you want to live, budgets, the selection process, timing, financing options and more. We try to learn as much about you as possible so we can deliver the best finished product.

After this initial meeting, it can take weeks or even months to make all your choices and create the final construction schedule. So, even if you're not expecting to start the work until the spring, the time to start planning is now. We've always found that better planning yields a better finished product.

Monday, October 13, 2008

Some people are concerned about their ability to qualify for a mortgage today. Although there has been a lot of reporting on changes to the mortgage industry, people are still getting loans to buy homes. Don't disqualify yourself, talk to a lender and let them pull a credit report and let you know what loans are available out there. Chances are there's one that's a good fit for you.