FHA loans offer no money down financing and 95% cash out refinances. Even if you have been denied or had a FHA loan before its still okay.
Inlanta Mortgage constantly keeps up-to-date on all of the mortgage changes going on to better serve our clients:
FHA loans in Naperville offer:
● Increased loan limits to $410,000 for a single family home in Naperville
● Down Payment Assistance, which means No Down payment Loans
● No increased costs for credit scores down to 620
● Lower mortgage insurance than conventional loans with the same down payment
● Cash out up to 95% of your home value without a higher rate
● No minimum credit score
● More liberal underwriting guidelines
● Spot approval on CONDOS
There are a lot of condos in Illinois which are not on the FHA approved condo list.
If the condo you are interested in is not, then you can review the FHA spot loan approval checklist (PDF) and if the condo association answers true to everything, then we can submit the loan to FHA underwriting for approval.
If you are looking for a mortgage that offers a low down payment and relaxed qualifying criteria while still providing competitive interest rates, an FHA mortgage may be right for you.
Inlanta Mortgage is your Naperville, Illinois Mortgage Banker:
Brian Collins
Toll Free: 877-240-5810 x106
brian.collins@madisonmortgageguys.com
www.madisonmortgageguys.com
Visit my blog at http://www.madisonmortgageguys.com/blogs_brian_collins/
How to Obtain an FHA Mortgage in Chicago: No Down Payment
FHA loans in Chicago have returned to the lending market as a smart option for home financing for first time home buyers and those with less than perfect credit. FHA loans are insured through a combination of a small upfront mortgage insurance premium (UFMIP), as well as a small monthly mortgage insurance premium. FHA loans are not just for first time buyers and are available to everyone looking to purchase or refinance a home.
Chicago FHA loans are available to $410,000 thru the end of 2008.
FHA is on the verge of moving to a risk-based pricing system that, for the first time, will use credit scores and require higher mortgage premiums from those whom it believes pose a higher risk of default. The changes will not impact most borrowers and will actually require lower premiums for good credit and low loan to value loans.
View the new FHA premiums
For more information on Chicago, Illinois FHA refinance, FHA cash out refinance and FHA purchase loans please visit our site at http://www.madisonmortgageguys.com.
To view additional FHA loans requirements visit our FHA Loan page on our website.
Also view our other Government Loans including VA and Rural Housing.
Inlanta Mortgage is your Chicago Illinois FHA mortgage banker:
Dennis Hardy
Toll Free: 877-240-5810 x104
dennis.hardy@madisonmortgageguys.com
www.madisonmortgageguys.com
Visit my blog at http://www.madisonmortgageguys.com/blog/
FHA mortgage insurance announcement (effective July 14, 2008): http://www.madisonmortgageguys.com/announcements/FHA_mortgage_insurance_premiums/updates/index.htm
FHA loan limit announcement: http://www.madisonmortgageguys.com/blog/content/its-official-illinois-2008-fha-loan-limits-to-rise/
or on our website at http://www.madisonmortgageguys.com/announcements/FHA_loan_limits.htm
Effective October 1st, 2008 No money down FHA loans are going away!
Illinois communities Chicago | Aurora | Waukegan | Rockford | Naperville | Joliet | Cicero | Peoria | Elgin | Schaumburg | Arlington Heights | Northbrook | Mount Prospect | Glenview | Normal | Buffalo Grove | Evanston | Wheaton
No money down FHA purchase, FHA Refinance, FHA mortgage, FHA loans in Chicago
Chicago FHA blog entry: http://www.madisonmortgageguys.com/blog/content/chicago-fha-loans-illinois-fha-mortgage-home-loans-refinance/
Visit our FHA refinance blog entry: http://www.madisonmortgageguys.com/blog/content/illinois-fha-refinance-wisconsin-fha-refinance-mortgage-loans/
Visit our FHA blog entry: http://www.madisonmortgageguys.com/blog/content/wisconsin-fha-loans-and-illinois-fha-mortgage-home-loans/
another blog entry: http://www.madisonmortgageguys.com/blog/content/illinois-fha-wisconsin-fha-chicago-fha-milwaukee-fha-madison-fha-mortgage-loans/
Our Chicago page: http://www.madisonmortgageguys.com/communities/illinois_mortgage/chicago_mortgage/index.htm
FHA mortgage loans in Chicago, first time home buyers in Chicago, no money down (no down payment) mortgage loans 100%
FHA offers several different options to homeowners who are considering an Illinois FHA refinance mortgage:
FHA Rate and Term Refinance:
Illinois FHA refinance mortgage loans afford borrowers the ability to refinance any kind of mortgage loan that they now have with an FHA refinance. FHA refinances are becoming increasingly popular among homeowners trying to refinance out of subprime loans. Illinois FHA refinance loans have helped many homeowners who may have no other options when it comes to refinancing.
FHA Cash Out Refinance:
Illinois FHA Cash out refinance loans provide the flexibility and variety so that individuals can meet a diverse range of needs, such as: obtaining cash for home improvements or major purchases paying off high interest rate debt (credit cards, auto loans, etc.) FHA refinance loans can lend up to 95% cash out of the home's value, and you can use the cash however you choose.
FHA Streamline Refinance:
This Illinois refinancing option is considered streamlined because it allows you to reduce the interest rate on your current home loan quickly and oftentimes without an appraisal. Illinois FHA Streamline refinance program is one of the most popular federal rate reduction programs available to homeowners. FHA streamline refinances do not require credit underwriting, unless the principal balance is increasing, in which case, HUD requires a 12 month payment history.
For more information on Illinois FHA refinance, FHA cash out refinance and FHA purchase loans please visit our site at http://www.madisonmortgageguys.com.
To view additional FHA loans requirements visit our FHA Loan page on our website.
Also view our other Government Loans including VA and Rural Housing.
Inlanta Mortgage is your Illinois mortgage banker:
Dennis Hardy
Toll Free: 877-240-5810 x104
dennis.hardy@madisonmortgageguys.com
www.madisonmortgageguys.com
Visit my blog at http://www.madisonmortgageguys.com/blog/
FHA mortgage insurance announcement (effective July 14, 2008): http://www.madisonmortgageguys.com/announcements/FHA_mortgage_insurance_premiums/updates/index.htm
FHA loan limit announcement:
http://www.madisonmortgageguys.com/blog/content/its-official-illinois-2008-fha-loan-limits-to-rise/
or on our website at http://www.madisonmortgageguys.com/announcements/FHA_loan_limits.htm
Chicago FHA blog entries:
http://www.madisonmortgageguys.com/blog/content/chicago-fha-loans-illinois-fha-mortgage-home-loans-refinance/
http://www.madisonmortgageguys.com/blog/content/chicago-fha-mortgage-loans-chicago-fha-refinance/
Visit our FHA refinance blog entry: http://www.madisonmortgageguys.com/blog/content/illinois-fha-refinance-wisconsin-fha-refinance-mortgage-loans/
Visit our FHA blog entry: http://www.madisonmortgageguys.com/blog/content/wisconsin-fha-loans-and-illinois-fha-mortgage-home-loans/
another blog entry: http://www.madisonmortgageguys.com/blog/content/illinois-fha-wisconsin-fha-chicago-fha-milwaukee-fha-madison-fha-mortgage-loans/
http://www.madisonmortgageguys.com/blog/content/wisconsin-fha-mortgage-illinois-fha-mortgage-loans/
Press Releases:
http://www.prlog.org/10084492-milwaukee-fha-mortgage-loans-no-money-down-first-time-home-buyer-refinance-cash-out-refinance.html
Our Milwaukee page: http://www.madisonmortgageguys.com/communities/wisconsin/milwaukee/index.htm
Our Madison page: http://www.madisonmortgageguys.com/communities/wisconsin/madison_mortgage/index.htm
Our Chicago page: http://www.madisonmortgageguys.com/communities/illinois_mortgage/chicago_mortgage/index.htm
Our Arlington Heights page: http://www.madisonmortgageguys.com/communities/illinois_mortgage/arlington_heights_mortgage/index.htm
Our Northbrook page: http://www.madisonmortgageguys.com/communities/illinois_mortgage/northbrook_mortgage/index.htm
Illinois FHA refinance and Wisconsin FHA refinances are becoming increasingly popular among homeowners trying to refinance out of subprime loans or into low fixed rates that are currently available. An FHA refinance is not however just for subprime borrowers. Many Wisconsin and Illinois residents have been able to take advantage of FHA's great rates and in some cases streamlined process to obtain lower overall payments. FHA loans can offer much better loan terms than traditional mortgage loans because the loans are guaranteed by the federal government, so there is almost no risk involved.
There are several kinds of FHA refinance loans. We are going to take a look at three of them:
FHA streamline refinance
FHA cash out refinance
FHA regular refinance
FHA streamline refinance:
In order to do an Illinois or Wisconsin FHA streamline refinance your original loan must be an FHA loan. The principal and interest rate payments of the previous mortgage payment must be lowered by the FHA refinance. You must have had the mortgage for at least six months. Appraisals are generally not required. FHA streamline refinance is a rate reduction loan program for FHA mortgage borrowers. Keep in mind that FHA refinancing options are only available to homeowners who are currently using their home as their principal residence. FHA streamline refinancing is perfect for individuals who purchased a house or condo with an FHA loan and want to reduce their rate and payments. There is no credit check with an FHA streamline refinance the only condition is that you have not made late payment on your current FHA mortgage within the past year.
FHA cash out refinance:
The following are basic requirements of a cash-out FHA refinance home loan: The subject property must have b
een owned by the borrower as his or her principal residence for at least 12 months preceding the date of the loan application. For those that wish to consolidate their bills or get cash out for home improvement, they should consider the FHA Refinance or FHA Cash Out Refinance. FHA Cash Out Refinances loans on properties owned more than one year prior to the refinance are permitted on owner occupied principal residences only, and are limited to 95% of the appraised value plus the allowable closing costs.
FHA regular refinance:
A Wisconsin or Illinois FHA home loan refinance may also benefit you even if you do not currently have a FHA loan. You may buy a home or do a refinance mortgage using FHA loans two years after the date of discharge for a bankruptcy, assuming that you have maintained perfect credit since the discharge of the bankruptcy with a FHA streamline refinance loan. If you've never refinanced through FHA you might think that it's more complicated because you're involved with a government agency. You do not have to have perfect credit to refinance with a FHA loan. The FHA requires certain standards order to offer you a loan guarantee, but the lender is still guaranteed their money in case of foreclosure, so they are more likely to fund the loan even if your credit is not ideal.
Visit our FHA Mortgage page for additional Wisconsin FHA and Illinois FHA program requirements.
Dennis Hardy
Toll Free: 877-240-5810 x104
dennis.hardy@madisonmortgageguys.com
http://www.madisonmortgageguys.com/
Visit my blog at http://www.madisonmortgageguys.com/blog/
Visit my FHA blog post at http://www.madisonmortgageguys.com/blog/content/wisconsin-fha-loans-and-illinois-fha-mortgage-home-loans/
http://www.madisonmortgageguys.com/blog/content/illinois-fha-refinance-wisconsin-fha-refinance-mortgage-loans/
Press release: http://www.prlog.org/10062309-illinois-fha-loans-wisconsin-fha-loans-fha-refinance-fha-cash-out-refinance-and-fha-purchase-loans.html
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Even in today's more restricted lending market, Illinois no money down 100% financing options are still available for qualified borrowers. We offer a variety of Illinois no money down solutions.
Inlanta Mortgage offers the following Illinois no money down (100% financing) mortgage programs:
(All of these programs are available for first time home buyers!)
Contact Inlanta Mortgage:
Dennis Hardy
Toll Free: 877-240-5810 x104
www.madisonmortgageguys.com
dennis.hardy@madisonmortgageguys.com
Chicago no money down loans Chicago 100% mortgage loans Illinois no money down home loans Illinois 100% financing mortgage home loans
Illinois No Money Down Loans
Chicago No Money Down Loans
Illinois 100% Mortgage Loans
Chicago 100% Mortgage Loans
We offer cash out refinance, jumbo loans, interest only, no money down, first time home buyer, 100%, FHA loans, VA loans and rural housing loans. www.madisonmortgageguys.com
We are committed to providing our customers with exceptional customer service. By providing our clients with sound, expert advice as to the many different loan programs and options available, we hope to take some of the mystery out of mortgage financing.
For most people, a mortgage loan is the largest financial transaction they will ever make. Our expert mortgage consultants are able to walk you through the mortgage process and put your mind at ease during the application and approval process. We're with you every step of the way including the closing.
Unlike many smaller mortgage brokers or even small banks and credit unions, we perform all of the mortgage functions in house rather than relying on an outside service provider. From our in house processing and underwriting departments to our in house closing department, we are handling every aspect of your loan file to ensure an accurate and timely closing.
We set up appointments according to your schedule, not ours. Our loan consultants are available to take appointments during the day, evenings, weekends and even in your home if that is most convenient for you. We believe that we earn your business. We continue this level of service to all of our internet applications as well.
We are also able provide our clients with an accurate closing cost statement at application time. This ensures that when you show up to closing, you won't be surprised by any hidden fees or charges that were not previously disclosed. And you'll find that we have some of the lowest closing costs in the industry to begin with. We fund our loans on time, and for purchase transactions we usually fund our loans early to ensure a smooth closing with all of the real estate agents involved.
Our company is locally owned and operated out of Waukesha, WI . We currently lend in Wisconsin, Illinois and Florida. We pride ourselves on only hiring the very best and brightest in the industry.
We simply want to provide our clients with some of the most competitive mortgage financing available. We pride ourselves on having some of the lowest interest rates and fees around! The mortgage process can be very confusing at times, especially when trying to compare quotes from different lenders. We believe in treating our clients with the highest level of professionalism and personalized service. Our high level of service has continued to earn us the trust and respect of our past clients, friends and local realtors. We want you to be more than satisfied with your mortgage lending experience with us.
We currently lend in the states of Wisconsin, Illinois and Florida.
Illinois Purchase and Refinance Programs:
First Time Home Buyer
Refinance
No Money Down (100% Financing)
Cash Out Refinance
FHA Mortgage Loans
Debt Consolidation Loans
VA Mortgage Loans
Interest Only Loans
Jumbo Mortgage Loans
80/10 Combo Loans
Freddie Mac Home Possible
FHA Streamline Refinance
Government Mortgage Loans
VA Streamline Refinance
Rural Housing
Less Than Perfect Credit
Jumbo VA Loans
Lender Paid Mortgage Insurance
My Community Mortgage
Non Owner Occupied/Investment
Contact Us
Dennis Hardy
Toll Free: 877-240-5810 x104
dennis.hardy@madisonmortgageguys.com
www.madisonmortgageguys.com
Visit my blog at http://www.madisonmortgageguys.com/blog/
Illinois Communities: Chicago Glenview Springfield Normal Aurora Buffalo Grove Waukegan Evanston Rockford Wheaton Naperville Joliet Cicero Peoria Elgin Schaumburg Arlington Heights Northbrook Mount Prospect
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