Mortgages

Non-US Citizen Mortgage Lending Available

visa February 12, 2012

Any person, who is lawfully residing in the U.S. as a permanent or a nonpermanent resident alien, is eligible for a mortgage on the same terms as a U.S. citizen, no exceptions. Click to continue...

Mortgages NOW for Buyers Starting Jobs in 60 Days!

Click to learn how you can qualify for a mortgage before graduation! January 25, 2012

Key Mortgage Services is now allowing income from future job employment letting you close your purchase mortgage loan 60 calendar days before you receive your first pay check! This is an ideal tool for graduates from college, especially medical and law students! Click to continue...

Getting a mortgage for your first rental property in Chicago

Click to read full post October 10, 2011

Rents are rising. Property prices are down. Even better, mortgage rates are down even more! Last week the Chicago Tribune reported that the rate on a 30 year mortgage dropped below 4.0% for the first time. If you’ve never owned a rental property before, but are thinking of buying one, you should first talk with a mortgage consultant. Here are 3 tips on what to expect. Click to continue...

Better to buy than rent in Chicago according to Trulia.com

Click to see Trulia's Rent vs. Buy Map May 6, 2011

Trulia’s Rent vs. Buy Index for Q2 2011 shows that if you can buy, but are thinking of renting in Chicago, you might want to reconsider your decision. Click to continue...

3% down condo mortgages now available in Chicago!

Click to learn more about 3% down condo mortgages! February 18, 2011

Condo financing is starting to loosen up! Baird & Warner Financial Services is now one of a few lenders certified to offer 3% down condo mortgages. Click to continue...

Credit Reports: One May Not Be Enough

Michael Poland August 27, 2010

This summer, Fannie Mae instructed lenders that they should adopt a new policy that would include a second review of an applicant’s credit report just prior to closing. Why? The answer is simple: the credit profile of a borrower may have changed between the time of the initial review of the credit report and the Click to continue...

Changes in FHA approvals add challenges for Chicago condo buyers

Thumbnail image for Changes in FHA approvals add challenges for Chicago condo buyers May 1, 2010

The purchase of a Rogers Park condo advertised as FHA Approved (not the condos shown left) by my buyer, Art, hit a bit of a snag last week. His mortgage banker, Michael Poland with Baird & Warner Financial Services, discovered that the condo development where Art was buying hadn’t been recertified for FHA approval. Michael Click to continue...

Baird & Warner offers 5% down condo mortgages!

Thumbnail image for Baird & Warner offers 5% down condo mortgages! February 21, 2010

We’ve been getting a lot of questions regarding FHA financing and our 5% down conventional program. We are one of a very few lenders that can offer 5% down conventional financing. I thought it would be a good idea to provide you with a short list of pros and cons for both loans. FHA Pros Click to continue...

What can happen when your mortgage broker has poor service

Thumbnail image for What can happen when your mortgage broker has poor service December 17, 2009

This week one of my buyers closed on the purchase on a house in Andersonville. While the closing was a cause for celebration, the process of getting to the closing table was way more stressful than it needed to be for my buyer! A day before my buyer’s mortgage commitment was due the broker informed Click to continue...

Financing options for some new Chicago condos improving

October 5, 2009

Crain’s Chicago Business is reporting that some new condo developments in areas including River North, Lincoln Park, and the West Loop are offering low interest, low down payment financing to spur sales. Tightened financing for new condo developments has been holding back sales so the banks that financed the developers are now offering attractive financing Click to continue...

FHA 203(K) loans great for marketing homes that need work

September 16, 2009

Yesterday I attended a seminar on FHA 203(K) rehab loans. I wrote about these from the buyers perspective back in August in my blog post “FHA 203(K) loans great for buying homes that need work“. FHA 203(K) rehab loans should also be considered by sellers with homes that need work. By paying up front for Click to continue...

FHA 203(K) loans great for buying homes that need work

August 14, 2009

Thinking of buying a home that needs work such as a foreclosure or short sale, but not sure how to finance the purchase and renovation costs? Consider an FHA (Federal Housing Administration) 203(K) loan. Today’s ChicagoTribune.com has a good article on the loans, “Old loan program finding new life“, by Mary Ellen Podmolik. One of Click to continue...

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