Midwest Home Loans for First Time Home Buyers
United Home Loans Will Help You Understand Midwest Home Loans for First Time Home Buyers

Illinois Home Loans for First Time Home Buyers Today is a great time to be a first time buyer in the greater Chicago market. Home prices are more affordable now, Illinois mortgage interest rates are still near historic lows, and there are several creative programs available regarding Illinois home loans, Indiana home loans, Michigan home loans, Minnesota home loans, Wisconsin home loans, for first time home buyers.

Below are some examples of midwest home loans for first time buyers. Such Illinois mortgage programs and financing solutions will help make home ownership in greater Chicago both possible and affordable for first time home buyers:
  • FHA home loans with as little as 3.5% down
  • Conventional fixed rate home loans with as little as 5% down
  • PMI buyout programs (eliminates monthly mortgage insurance)
  • Tax credit programs available through IHDA (Illinois Housing)
  • Down Payment assistance programs through IHDA
  • VA Financing with no down payment required for qualified Veterans
Home buyer education is the key to understanding and utilizing many of these Illinois home loan programs. For information on midwest home loans for first time home buyers or any of these midwest home loan programs for first time home buyers please call us at (708)531-8388 or click here to contact United Home Loans.



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United Home Loans Inc, Loans, Westchester, IL

Mortgage News

Need Help Paying For College for Your Kids? Consider a Cash-Out Refinance - Posted May 17, 2013

College is really expensive!  According to SavingForCollege.com, the average 4 year cost for a private college is currently $127,100.  If you are like the rest of us, you probably don’t have that much cash saved for even one of your kids. 

With mortgage rates at historic lows, you may want to consider a cash-out refinance mortgage instead of student loans.  There are many benefits.  For starters, a 30 year fixed mortgage will provide you with a very low fixed mortgage rate payable over a long period of time – this will help keep your payment very low.  Also, this interest may be tax deductible – consult your tax professional for details.  And, contrary to everything you hear from the press, getting approved for a mortgage is not that difficult.  You need to have stable income, good credit and equity in your home.  If you can meet those three requirements, you are 99% there.

Most lenders allow you to borrow up to 80% of your home’s value for a cash-out refinance.  Property values have been increasing in the Midwest recently and Illinois mortgage rates are close to historic lows.  So, if your home is worth $500,000, you can borrower up to $400,000 at a fixed payment under $2,000 per month. 

United Home Loans provides Illinois mortgage loans in addition to mortgages in Indiana, Michigan, Minnesota and Wisconsin.  Check out our rates below and call us with any mortgage related questions at (708) 531-8388.


Illinois Mortgage Rates
IL 30 Year Fixed mortgage as of May 17, 2013   3.500%/3.519 APR
IL 15 Year Fixed mortgage as of May 17, 2013   2.750%/2.819 APR

Please click this link for APR assumptions and more IL mortgage rates


Indiana Mortgage Rates
IN 30 Year Fixed mortgage as of May 17, 2013   3.500%/3.519 APR
IN 15 Year Fixed mortgage as of May 17, 2013   2.750%/2.819 APR

Please click this link for APR assumptions and more IL mortgage rates


Michigan Mortgage Rates
MI 30 Year Fixed mortgage as of May 17, 2013   3.500%/3.519 APR
MI 15 Year Fixed mortgage as of May 17, 2013   2.750%/2.819 APR

Please click this link for APR assumptions and more MI mortgage rates

Minnesota Mortgage Rates
MN 30 Year Fixed mortgage as of May 17, 2013   3.500%/3.519 APR
MN 15 Year Fixed mortgage as of May 17, 2013   2.750%/2.819 APR

Please click this link for APR assumptions and more MN mortgage rates

Wisconsin Mortgage Rates
WI 30 Year Fixed mortgage as of May 17, 2013   3.500%/3.519 APR
WI 15 Year Fixed mortgage as of May 17, 2013   2.750%/2.819 APR

Please click this link for APR assumptions and more WI mortgage rates

      



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Testimonials
184238
' If I ever refi again, I will call United Home Loans right off the bat. They gave us a very competititve rate without any bait/switch games. Jeff ... more '
5.0/5.0
by JohnKarakis
180632
' Jeff Dulla at United Home Loans and his associates were professional and a pleasure to do business with. All aspects of the loan process went ... more '
5.0/5.0
by user461003
171603
' Kim R. at United Home Loans was exceptional in following through on every detail of my refinance. I have already recommended her to a friend and will ... more '
5.0/5.0
by user174676