Illinois Mortgage: FHA Loans, First Time Home Buyer, VA, Refinance, No Money Down, Jumbo loans, Rural, Cash Out

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Mortgage and Lending - Inlanta Mortgage - NMLS ID #248526
Your Illinois mortgage banker, offers first time home buyer programs, 80/5, cash out refinance, jumbo loans, no money down, current Illinois mortgage rates, refinance, 100% financing, interest only, investment, my community mortgage, 2nd mortgage, FHA 203k rehab loans, VA refinance, reverse mortgages, FHA mortgage loans, VA loans and rural housing loans. Visit us online at www.MadisonMortgageguys.com
RECENT BLOG POSTS
Lots of advertisements and websites are proclaiming that now is a great time for eligible veterans to apply for a VA mortgage. However, they fail to answer a basic question. What, exactly, can a veteran purchase with an Illinois VA mortgage? Mission of the Veterans Administration Mortgage Progra...
10/31/2013
Thanks to the tough economy of the past several years more people than ever a facing problems with their credit scores. But it does not mean it is the end of the world or that you will never be able to finance a home purchase again. Here are some of the familiar questions asked by borrowers with...
07/26/2013
When you are looking to purchase your first Illinois home it is important to get proper insurance coverage.  A good policy will take care of your contents as well as the actual home in case of damage. The majority of lenders will require that a basic policy is in place when the mortgage is signe...
05/17/2013
Effective 1-22-2013, USDA has updated their database to reflect 2013 Illinois USDA Rural Housing income limits. 9 out of 102 counties have increased income limits in 2013. Look over the table below to get an idea of the eligible areas in Illinois. The second column, “Counties with Ineligible Por...
02/12/2013
For Forward mortgages with case numbers assigned on or after January 1, 2013 through December 31, 2013: The FHA Floor and Ceiling loan limits will remain the same as those that were in effect from January 1, 2012 through September 30, 2012, as announced in ML 12-26. The individual county loan li...
12/28/2012
Considering the current state of the home market, it is easy to find a home that is need of some repair. Foreclosures and anticipated foreclosures are scattered across the country. For most buyers, it is impractical to consider such a property. The mortgage lender will not complete the loan unti...
12/11/2012
The VA mortgage has been one of the benefits offered to our men and women who willingly join the armed services of America. Most people think that the home loan program is only offered to people who are discharged from the military and served in time of war. However, that is not the case. Active...
06/14/2012
The final part of our Illinois VA Loans series will explain different credit issues that may be discussed and questioned during the application process. Lack of CreditIt is possible for a veteran that has never borrowed money to obtain a VA mortgage.  If the veteran can show consistent and promp...
12/21/2011
In this part of our Illinois VA Loans series we will explain the VA Funding Fees. The Funding Fees are assessed on all VA mortgages whether it is a purchase or a refinance loan. First time buyers will be asked to pay 2.15% of the total loan amount if they get a mortgage with no down payment. The...
12/21/2011
In this part of our Illinois VA mortgage loan series we will explain the debt to income ratios used to qualify a borrower for a VA home loan. 41% is the Magic NumberThe ratio is a fairly simple math formula. The first step is to determine the borrower’s monthly gross income. This is income from ...
12/21/2011
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