FHA Refinances Still Strong in Illinois After Recent ChangesFHA recently changed their upfront mortgage insurance premium. This should NOT keep you from using the FHA program! The FHA changes will help protect the program from disappearing as many mortgage options have in recent times. Even with
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04/07/2010
USDA announced this week that they expect to run out of the entire year's appropriated funds for their popular Guaranteed Rural Development home loans by the end of April. That's six months before the next federal budget would renew the program coffers. Lenders are scrambling to get approvals fo
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03/18/2010
Looking for information on obtaining your VA builder ID? Go here for current information on how to obtain one! https://www.madisonmortgageguys.com/how-get-certified-as-a-va-builder/ For additional program information, visit our VA and VA refinance program pages:
01/18/2010
With all of the recent changes in Chicago FHA loans, I thought I would take the time today to share information that you as a home buyer should know. Down Payment:First, we'll start with the down payment. About a year ago, FHA changed the requirement to 3.5% of the purchase price. 3.5% is not a
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12/17/2009
I thought everyone may appreciate a nice summary of upcoming changes to the FHA Condo Approval process. Please note that after February 1st all case numbers pulled for condominiums must be approved by FHA. FHA Revises Condo Approval Process (ML 2009-46 A&B) Notable Dates: Case numbers assigned
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12/09/2009
With out many Chicago refinance options with scores under 740 and being able to get the "best" mortgage rates available, many Chicago residents have turned to FHA. With a Chicago FHA refinance you can still refinance at a 620 score or higher with lower mortgage insurance than a conventional mort
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11/28/2009
Types of Illinois FHA Loans including Chicago, Streamwood, Naperville, Arlington Heights, Schaumburg, Northbrook, Mount Prospect and Glenview Today's FHA Insured mortgage loan offers the flexibility borrowers are looking for along with the traditional benefits of low down payments, low closing c
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10/26/2009
Qualify for an Illinois Mortgage Refinance: Conventional, FHA and VA including Chicago Find out if now is the right time to refinance your Illinois mortgage! You may be able to reduce your monthly payments or reduce the life of your loan...by getting a lower interest rate or a new loan term. You
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07/13/2009
In the past, lenders have required at least 20% down payment on a Wisconsin or Illinois home loan. However, government mortgage programs only require you to put 3.5% down, or even 0% down in certain geographical areas of the Wisconsin and Illinois or if you are a veteran. FHA Mortgage: 3.5% down
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06/30/2009
Illinois, Wisconsin, Minnesota and Florida FHA Identity of Interest Transaction (family member to family member purchase) There's not a lot of information on this topic, so today I thought I would discuss what it is and what it means to you. Not too long ago, purchasing a home from a family membe
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06/29/2009
