Home Buyer Education 101

Learn about buying a home, getting a mortgage and the closing process.

The truth about closing costs and fees.
At your home closing, there will be fees associated with your mortgage loan application, title policy, recording charges, government transfer taxes, as well as a deposit for real estate taxes and home owners insurance.
Learn what closing costs to expect »

Fixed-rate mortgages for the Chicago market.
A fixed-rate mortgage is a home loan where the interest rate never changes over the life of the loan. The most common type of fixed loans are 30-year fixed.
Find out more about fixed-rate mortgages »

The truth about condo financing.
Getting a loan approved for a condo may not be as easy as you think. Several items may impact your condo loan, including how many units have been sold, how many were sold to investors, the status of the common areas, if the HOA has adequate reserves and if the HOA or condo developer is in a lawsuit.
Know before you buy »

How credit reports can affect your mortgage rates in the Midwest.
Usually the better your credit score, the lower your mortgage rate. That's why you should check your credit before you purchase a home so you can clear up any discrepancies, errors, or low ratings.
How to check your credit score »

7 steps to keep your Illinois mortgage approval intact.
1) Credit report: make sure it is accurate and up to date.
2) Financial documents: gather them and have them handy.
3) Paper trails: have the history for gifts and large deposits.
4) Moving assets: do not move any money or funds around.
5) Statements: collect your credit card, bank and pay statements.
6) Employment: inform your lender if you are changing jobs, quit or are fired.
7) Credit cards and new purchases: it is best not to open any new credit cards or make big purchases before closing.
Read all 7 steps in detail »