Negotiating Closing Cost Credits

Keelin Billue Gubbels Mortgage, Realtor

Seller closing cost credits are a common way to reduce the cash needed to close. They can be used to cover such things as lender fees, title fees, and even pre-paid factors such as daily interest and funding the escrow account. For example, let’s say you negotiate a purchase price of $300,000. You can then ask that it be $305,000 with …

Only 5% Down on a Jumbo Loan

Keelin Billue Gubbels Chicago Real Estate, Mortgage, New Home Buyer, Realtor

Only 5% Down on a Jumbo Loan  (In Illinois, Michigan and Indiana Jumbo Loans above $424,100 for a 1-unit property) Key Benefits for the ARM Products • Up to 95% loan to value to a $650,000 loan amount.  • Up to 90% loan to value to a $850,000 loan amount.  • Asset depletion income allowed. Example – $500,000 account value/ …

Staging My Home to Sell

Keelin Billue Gubbels Chicago Real Estate, Realtor, Refinancing

Ok, so you need to sell your home.  You figure you just need to tidy up and let potential buyers see your house.  WRONG. Once you decide to sell your house, you need to let the buyer see it as their home, not yours.  Staging a home highlights its strengths, downplays its weaknesses, and gets the buyer picturing themselves living in the home. All …

Reliable On-Time Closings

Keelin Billue Gubbels Mortgage, Realtor

We are Loan Officers who are serious about accountability.  We do whatever it takes to make sure that everyone at CFS Mortgage who touches a loan file does so with no errors, and does so promptly. We understand and respect that a contract is the product of many hours of work by the real estate agent and the client.  All aspects of the residential lending process occur in …

Buyers with Reliable Pre-Quailifications and Pre-Approvals

Keelin Billue Gubbels Mortgage, Realtor

Successful real estate agents don’t want to spend their valuable time with a buyer prospect who cannot qualify for financing.  Why drive them around and show them listings? On the flip side, real estate agents also don’t want to miss opportunities because a loan officer didn’t know how to help a borderline borrower become qualified.  At Chicago Financial Services, we have the experience to get …

New Rules Impact Closings

Keelin Billue Gubbels Chicago Real Estate, Mortgage, Mortgage News, News, Realtor

Congress established the Consumer Financial Protection Bureau (CFPB) after the financial problems of 2008.  Starting in October, there are two new forms that the borrower is required to receive.  The Loan Estimate is given to the borrow at the beginning of the process and the Closing Disclosure is provided right before the end of the process. This Causes Delays in …

Tax Credit for Buying a Home

Keelin Billue Gubbels Mortgage News, New Home Buyer, Realtor, Uncategorized

Qualified homebuyers can get a tax credit for buying a home.  This can be claimed each year you live in your home.  Call us to apply at 312.642.7979. Here Are the Details: TaxSmart Mortgage Credit Certificate Program TaxSmart is a Mortgage Credit Certificate (MCC) program that provides a federal income tax credit to qualified homebuyers. A tax credit is a direct …

Bad Loan Officers

Keelin Billue Gubbels Chicago Real Estate, Mortgage, New Home Buyer, Realtor

Some people in the mortgage business just don’t get it.  Some loan officers are just bad. When a buyer is looking for a loan to buy a new home, the real estate agent will usually refer the buyer to a mortgage professional.  The real estate agent wants the buyer to have a good experience getting the mortgage and the buyer …