Changes are Ahead! The "Perfect Storm" for Buying a Will County or Chicagoland Home Will Not Last Forever.

Changes are Ahead!  
The "Perfect Storm" for Buying a Will County
or Chicagoland Home Will Not Last Forever

     If you're hoping and dreaming of becoming a First-Time Home Buyer, you're probably currently battling with yourself over the timing of a home purchase.  

     Is NOW the best time?  Or should I wait a bit longer?

     If you have:  
*  A secure job ..  *  Excellent credit .. 
Savings for a Down Payment ...  the answer to those questions is probably fairly clear to you.  And you may already have taken steps towards achieving your goal.

     But if you have struggled with your credit or haven't succeeded at putting a Down Payment together, you might want to consider the following reasons as to why you should take action  sooner than later.  Changes regarding mortgage financing and housing ARE coming ... or have already started ...

     1.  Interest Rates have gone UP ...  1/8%  to  1/4%  in some mortgage programs since just the first of this year, 2013.

     2.  Property Values appear to be stabilizing.  They have bottomed-out in many markets and they have increased in others.

     3.  Government scrutiny on the Banking and Mortgage Industry itself will continue to ADD COSTS to obtaining Mortgages.  As an example:  FHA's  Borrowing Costs  go up on April 1st, 2013

     4.  The Inventory of homes for sale is shrinking and many Realtors are now reporting a return to bidding wars and multiple offers on the existing supply of homes.  The bottomline for both is an increased cost for new Home Buyers.

     5.  Continued tightened  Underwriting Standards  is a certainty.  Fannie MaeFreddie MacFHA,  and  VA continue to find the right balance between making money available ... and protecting Borrowers from taking out loans they can't repay.  

     Okay!  You've read all the reasons above and I've convinced you that the tide in the housing market is turning and NOW is the time for you to take action.  What do you do next?

     Pick-up the phone!  Email ... text ... head to the  website ... or stop by the office of a referred experienced Mortgage Lender.  Start the conversation.  Tell me your hopes .. your plans .. your dreams.  While we talk, be prepared to answer some financial questions regarding your employment, your credit history, and savings.

     I may ask permission to run credit report  on your behalf to determine your credit scores and what type of debt you have.  I will outline what the best options are for you personally.  I will provide guidance, should you need credit advice and assistance. 

     I may ask for some financial documentation at this point too.  If so, many of those documents you will be asked to provide will be found on this handy list:  Financial Documentation Needed for Mortgage Application.  Feel free to print and use this list while gathering the information and documentation needed for our fact-gathering conversation and your  mortgage application.

     Whether you hope to buy now, 6 months down the road, or even a year or more from now ... I recommend that you take action now and  contact me  so we can get the ball rolling.  I will help you every step of the way.  Answer all your questions.  The better you are prepared in advance, the more smoothly your mortgage financing and home buying transaction will go.
     Changes are ahead!  The "Perfect Storm" for buying a Will County or Chicagoland home will not last forever.  The costs relating to borrowing money to buy a home may not ever be as low, affordable, and attainable as they are right now.  Place yourself in a position to take advantage of these historic interest rates, lower housing prices, and favorable mortgage program costs.  Take action now ...  

     In need of mortgage information or mortgage service in the New Lenox, Will County area, or elsewhere in the Chicagoland region?  Contact me  today!  I'll put my 35+ years of mortgage experience and expertise to work on your behalf.
     I can be conveniently reached through any of the following:
Direct:  815.524.2280
Cell/Text:  708.921.6331
eFax:  815.524.2281    Skype:  630.219.1316
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