First Time Home Buyers
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Great news for home buyers — the 10% down payment loan without mortgage insurance is back.
We’ve posted quite a bit of news lately about rising home values. Additionally, loans are no longer getting more difficult to obtain.
If you’re looking for a third sign that the market has bottomed and is improving: Second mortgage [...]
Continue Reading →Illinois Housing Development Authority has added $12 million to the statewide mortgage credit certificate pool allocation effective July 7, 2009. This is from the Veterans’ program. This is only a portion of the Veterans’ allocation. The Veterans’ program is still active.
Program Highlights: The federal government allows each homeowner to claim an itemized income tax [...]
Continue Reading →We’d discussed this last week as a growing trend and it is continuing.
Rates held even ground for most of last week. Looking at the 5/1 ARM versus 30 Year Fixed comparison from last week, we were seeing about a .75% rate difference between the two loan products.
As of this morning, we seeing nearly [...]
Continue Reading →New DU Refi plus limits up to 125%: Fannie Mae & Freddie Mac are extending their refinance initiatives as of September 1.
The Fannie Mae DU Refi Plus and Freddie Mac Relief Refinance Mortgage programs are both tools for obtaining a refinance when the primary issue is home value. As is always the case with our [...]
Continue Reading →The real estate web community has been buzzing following announcements at a federal level that would create vehicles to allow homebuyers to access the $8,000 Tax Credit as part of their closing.
Great news–In the next few weeks, the Illinois Housing Development Authority will be releasing the procedural details for making this possible. Early whispers [...]
Continue Reading →A further sign that volatility is here and here in force: The spreads on adjustable rate mortgages recently are “normal” after having spent most of the year with the 30 Year Fixed rate being slightly lower than most rates.
While mortgage rates change day to day, the differences between that 30 Year Fixed and some [...]
Continue Reading →Professional Mortgage Partners announce another new program designed to help first-time homebuyers. This exclusive new program was launched by our group in September of 2008. This is a groundbreaking program in an otherwise tightening lending market.
Quick Facts:
Designed to increase homeownership opportunities for low- to moderate-income individuals and families. Primary Residence Purchase Only [...]
Continue Reading →We bring several unique benefits to homebuyers. PMP offers terrific programs for first-time buyers, as well as buyers
with little or no money saved up for a down payment. And now, they may qualify for the IHDA Program within DuPage County if they me
Public Safety Officer Homeownership Program
Chicago police officers, firefighters, and paramedics who purchase homes in targeted areas of Chicago may be eligible to receive $3,000 in down payment and closing costs assistance. If the purchase is located in a CHA Redevelopment Property $7,500 in assistance may be available.
The deferred loan is available per household [...]
Continue Reading →CPS Teacher Homebuyer Assistance
In addition to the other programs offered to Chicago homebuyers, we have a terrific program that can be used in conjunction with some of our other most popular grant programs and other programs with that require little or no down payment.
Now, qualified CPS teachers can now get up to $7,500 [...]
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