brought a home but why do i have more bills?

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when you buy a home please consider these additional expenses

Real Estate Taxes – no one like paying taxes but now you are a homeowner, government want a piece of the pie.

Homeowner Insurance – you now own a big expensive home, you need insurance for all the “surprises”  coming in the near future.

Furniture and other things you need/want – now with your own batcave, that sofa, television, table, picture, lamp, etc… would look fantastic in my living, bed, dinning room.  be prepared to spend and spend money on stuff.

Utilities – now i have electricity, water, gas, telephone, cable, garbage, internet, etc… other bills that i did not have when renting.

Mainatenance – my light broke, call the landloard. you are the landlord now, be prepare for more expenses.

Joon Choi

Chicago Financial Services, Inc.


Joon Choibrought a home but why do i have more bills?

Why is my credit score only…

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many times borrowers have asked “why is my credit score only ###”   the answer will depend on the credit profile and here breakdown

35% – payment history :  paying your bills on time is 1st primary factor

30% – amount owe/ credit balance : not having all your credit cards max out/close to limit is 2nd primary factor

15% – length of your credit history/how long each tradeline has been opened – long history is good, dont be closing all old, old credit cards

10% – new credit line opened/credit inquries : everyone wants to give you a line of credit, all will check your credit,  don’t have excess inquiries

10% – type of credit opened : a good mix of credit is good, credit card, installment loan, mortgage, etc…


Joon Choi – Senior Loan Officer @ Chicago Financial Services, Inc.

Joon ChoiWhy is my credit score only…

to rent or to buy that is the question…

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ask yourself

1) how much do i have saved?   the min down payment is zero VA, 3 IDHA, 3.5 FHA  and 5% Conventional.  do you have the min?

2) what is my budget?  owning a home is not cheap plus you have “other BILLS” before owning.  can you budget take on more expenses?

3) what is my credit profile?  good or bad, a mortgage is possible.   having credit profile check/review will help you explore the possibility!

4) can i afford the condo/home i like?  price can vary per location, carefully planning can help!


Joon Choi

Senior Loan Officer

Chicago Financial Services, Inc.


Joon Choito rent or to buy that is the question…

ADP Payroll June 2014

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ADP national employment report show u.s. employment increased by 179,000 private sector jobs in may

ADP payroll change for MAY was revised to 210k from 215k

Joon ChoiADP Payroll June 2014