With asset depletion mortgages, lender take the totality of cash and easily-converted-into-cash assets a borrower has and convert them into income. (By the way, some people call asset depletion mortgages asset-based mortgages.) The best way to show you how it's calculated, is with examples. Call me at 847-840-8884 to figure if an asset depletion mortgage loan will work for you. Income Calculations for Asset Depletion Mortgages - Examples   The borrower has $1,800,000 cash sitting in a...

Chicago FHA mortgages against mixed-use 2 to 4-unit properties are harder on borrowers than any other type of mortgage loans. Applying for an FHA Mixed-Use Loan Not all loan originators know how that it is possible to get an FHA loan against a mixed-use 2 to 4-unit property. In addition, some of those who do, do not fully understand the rules. But most of all, hungry for loans, take the application anyway. Some even try. Hard. And fail. That means long delays...

The world of DACA mortgage loans has changed recently: the FHA is now insuring mortgage loans for DACA status recipients, as long as they have a valid Employment Authorization Document, a social security number and meet the other FHA requirements. So, if you've got DACA status and want a low-interest mortgage loan, start looking. Remember, FHA loans must be used to purchase / refinance a primary residence (1-4 unit properties; condos must be approved, interest rates are lower than on conventional loans, so are the down payment required but there's upfront mortgage...

'Mortgages in Jefferson Park, Chicago, IL' because I just arranged for a mortgage loan for a couple who live in that neighborhood. I could have given the zip code, I know: 60630. But that's not as appealing. 'Self-Employment' because one of the borrowers is self-employed. My clients did not Google "Chicago mortgages" or "Jefferson Park Mortgage Broker" to find me. They found me through their tax preparer. They were looking to refinance their home, a single-family detached house to get a lower rate. Their interest rate was 4.500%. I...

Looking into Des Plaines condo loans? They're a bit harder to get than loans on a house. They are harder because they're riskier: lenders don't have to worry just about you and your unit but also about common areas, homeowners’ associationand other unit owners. So do you. Here's how things go, using my imaginary friend Bob, who lives in an imaginary rental unit in Niles, as an example: Would-Be Borrower Bob Looks for a Des Plaines Mortgage Broker Let’s say borrower Bob wants...