Getting or refinancing a mortgage loan in Chicago or a FHA / VA loan

April 18th, 2016

In the event you are a first time buyer looking out to get the best mortgage deal in the state of Illinois, now is the best time to buy. There's no better time to buy a house in Illinois as the interest rates for mortgage loans have been at their lowest in years. In addition, the value of property has dramatically dropped and this really is why buying a new home right now will save you a lot of money.

If you are looking to wait a little more till the rates and value decrease further, you will be making a poor choice. It is because the real estate sector is now beginning to improve and you will no longer see these wonderful IL mortgage rates.

As a way to get the very best price you have to act fast and also select a mortgage lender that is offering the very best mortgage deal. Lenders play a crucial part in regards to the cost of your home, so picking a good lender is a must should you need to save cash.

Whenever choosing a mortgage lender, it is always preferable to compare the different bargains given by them instead of picking one that somebody recommended. This may also save you a lot of cash since there may be a big difference between the mortgage costs for different lenders. Finding a great IL mortgage rate is dependent upon finding a good lender. Compare the different rates offered by lenders in order to choose the most effective rate. Additionally see whether you can ask the lender if he can charge a lower sum for the extra fees you will have to pay.

Another thing you have to do is find a mortgage strategy that best suits your requirements. If you are unfamiliar with all the types of mortgage loans offered, do a little research and get acquainted with what the market offers. Finding great IL Mortgage Rates can only be done with good research. It is wise to get a fixed interest mortgage loan in the event you intend to remain in the house for more than twenty years. Nevertheless, it is recommended that you get an adjustable mortgage plan in the event you plan to stay in the house for not more than five to seven years.

Sensible preparation and taking advantage of the low rates at this point of time will help you save a huge number of dollars over the term of your mortgage loan.


Required Documents

VA Loans

Veteran Loans

Prime 1 Bancorp, Ltd is not affiliated with any government organization or bank nor do we act on behalf of the FHA or VA. This material is not from HUD or FHA and has not been approved by HUD or a government agency. We are not a Federally chartered or State Chartered Bank. We are an we are an Illinois Residential Mortgage Licensee by the Office of Banks and Real Estate License #MB.6761138, a Colorado Registered Mortgage Brokerage by Division of Real Estate, a Florida Residential Mortgage Brokerage Licensed by the Office of Financial Regulation License #MBR1930 dba Prime 1 Mortgage Inc, a California CFL Licensed Mortgage Brokerage by Department of Business Oversights 60DB055973 and a Texas SML Licensed Mortgage Brokerage by the Texas Department of Savings and Mortgage Lending. Prime 1 Bancorp, LTD Corporate Office is located at 2720 S. River Rd Suite 50, Des Plaines, IL 60018 our Toll Free Number is 888-205-3737. NMLS: 1434638

Loan product availability is subject to qualification of the borrower and loan approval after full review of the file. Not every applicant qualifies or is eligible for every loan program. Some loan products may not be available in all states. Loan approval, note rate and annual percentage rate are dependent on factors including, but not limited to, credit, collateral, income, assets and overall financial history. Not all applicants will be approved for a loan. All loan programs, terms and annual interest rates are subject to change without notice. NMLS: 1434638