ChitownLiving | Chicago Real Estate + Life

ChitownLiving | Chicago Real Estate + Life header image 4

Entries Tagged as 'Mortgage'

The Meaning of Fannie Mae and Freddie Mac to Home Buyers and Sellers

July 15th, 2008 · No Comments

Great post from The Mortgage Reports on what the

[Read more →]

Tags: All Posts · Finance · Mortgage

The Fed Cut Interest Rates Yesterday, Will Mortgage Rates Go Down?

March 8th, 2008 · 3 Comments

They didn’t really but I get this question all the time. No, not as a direct result, and here are 4 other things that don’t control mortgage rates.

[Read more →]

Tags: All Posts · Finance · Mortgage

Those Aren’t Renters, I Have Guests in Town

February 16th, 2008 · No Comments

More favorable loan terms can be obtained for a primary residence. It seems that primary residency occupancy fraud is on the rise. I always wondered how the primary residence requirement was verified at the time the loan was secured and over the life of the loan.

[Read more →]

Tags: All Posts · Finance · Mortgage

Changing Mortgage Guidelines Presented in Stick Figures

February 12th, 2008 · No Comments

null

I appreciate it when complex subjects are explained in easy to understand terms. Dan Green of The Mortgage Reports does just that when discussing the contraction of mortgage guidelines. Which stick figure do you think should be awarded best actor in a mortgage drama?

[Read more →]

Tags: All Posts · Finance · Mortgage

Mortgage Delinquency Rate in Color

November 15th, 2007 · No Comments

Housing market charts are great.  Interactive charts are even better.  This one by the Wall Street Journal covers mortgage delinquency rates. Be sure to check out the broader housing trends. Very high-level information but informative in any case.  A picture is worth 1000 words.

[Read more →]

Tags: All Posts · Mortgage

Front and Back Ratios

November 15th, 2007 · No Comments

Russ of Smart Mortgage Advice, delivers a succinct post on a couple key ratios used when answering the question, “How much house can you afford?”  A timely post.

[Read more →]

Tags: All Posts · Mortgage

Loan Officer or Loan Originator?

November 15th, 2007 · No Comments

When Chicago home buyer clients ask for a lender recommendation, I often advise speaking to a Loan Officer and a Loan Originator as a comparison.  What’s the difference you ask?  I leave the explanation up to Jillayne Schlicke’s recent post at Rain City Guide.

[Read more →]

Tags: All Posts · Mortgage

Catch the Big One

November 15th, 2007 · No Comments

Much like a big game safari, Russ’ post takes us on a humorous hunt of the different types of the often elusive REALTOR® Species.  Hope I’m “The Professional”.  Happy hunting.

[Read more →]

Tags: All Posts · Mortgage

Don’t Forget the T and I

November 15th, 2007 · No Comments

When considering financing your home, the major monthly payment is PITI: principal, interest, tax and insurance.  Richard Cohen reminds us not to forget the last two characters, the T and I.

[Read more →]

Tags: All Posts · Mortgage

New Construction Series: Financing

November 15th, 2007 · No Comments

Why write a whole new post when I can leverage an existing one. Richard Cohen addresses new construction financing and asks whether the development is warrantable? Say what? Prior New Construction Series Posts

Punch List
Taxes
Purchaser Litigation
Appraisal Contingency
Closing
Warranty

[Read more →]

Tags: All Posts · Mortgage

HB 4050 is Back

November 15th, 2007 · No Comments

Dan Green of The Mortgage Reports warned earlier in the week, and then I received the following communication today from the Chicago Association of Realtors.

All of Cook County Included as HB4050 is Re-Instated Rule making process begins - public comment is being solicited by C.A.R.

As anticipated, the Governor has ordered the Illinois Department of Financial [...]

[Read more →]

Tags: All Posts · Mortgage

Your Lender Doesn’t Work Weekends?

November 15th, 2007 · No Comments

Athol Kay over at The Real Estate Guide makes a great point regarding buyers getting mortgage pre-approvals from their lenders. No need to re-hash the entire topic as Athol has done a great job, but in short, the post emphasizes the importance of not tipping your hand by customizing your pre-approval to a specific offer [...]

[Read more →]

Tags: All Posts · Mortgage

How Much Home Can You Afford?

November 15th, 2007 · No Comments

  I enjoy recommending products I think my clients may find useful.  HouseMath 2.0 was brought to my attention by Matt Goyer’s Real Estate Blog and again by Future of Real Estate Marketing.  HouseMath 2.0 allows you to calculate the true monthly cost of home ownership.  The typical components of monthly mortgage payments are Principal + Interest [...]

[Read more →]

Tags: All Posts · Finance · Mortgage · Technology

Economic News - Week of December 11, 2006

November 15th, 2007 · No Comments

Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
It was a bad week to float your mortgage rate last week as the Non-Farm Payrolls report and a “Double Top” technical trading pattern pushed mortgage rates up for the first [...]

[Read more →]

Tags: All Posts · Finance · Mortgage

Economic News - Week of December 04, 2006

November 15th, 2007 · No Comments

Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
In what should have been a week full of shake-ups, the Fed stole the spotlight and guided markets in very plain English about its intentions. The economy is showing evidence of [...]

[Read more →]

Tags: All Posts · Finance · Mortgage

Economic News - Week of November 20, 2006

November 15th, 2007 · No Comments

Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
In what should have been a week full of shake-ups, the Fed stole the spotlight and guided markets in very plain English about its intentions. Despite PPI, CPI, Retail Sales and [...]

[Read more →]

Tags: All Posts · Finance · Mortgage

Economic News - Week of November 13, 2006

November 15th, 2007 · No Comments

Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
Without any economic news to push mortgage rates in one way or the other, markets took their cue from the changing political landscape, China’s investment rhetoric, and a bevy of speeches [...]

[Read more →]

Tags: All Posts · Finance · Mortgage

Economic News - Week of November 06, 2006

November 15th, 2007 · No Comments

Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
Mortgage rates dropped, dropped, dropped throughout the first four days of the week last week, and then recoiled following Friday morning’s Non-Farm Payrolls report.
Check out what is in store for [...]

[Read more →]

Tags: All Posts · Finance · Mortgage

Economic Releases - Week of October 30, 2006

November 15th, 2007 · No Comments

Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
Mortgage rates fell last week as Ben Bernanke and the Fed issued a not-too-hot, not-too-cold statement about the U.S. economy.  Mortgage rates are back at their mid-October levels.
Check out what [...]

[Read more →]

Tags: All Posts · Finance · Mortgage

Economic Releases - Week of October 23, 2006

November 15th, 2007 · No Comments

Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
Mortgage rates trended higher last week in anticipation the Federal Open Market Committee’s meeting this Wednesday.  Since the start of October, the movement mortgage rates has reflected the changing inflation expectations [...]

[Read more →]

Tags: All Posts · Finance · Mortgage