Mortgages
Mortgage loans are created to fit different borrower situations yet not cross a certain risk level. Lenders don’t have the same risk level, however, all of them have a strong aversion to risk.
Loan Program Options
Amortization
The fixed-rate loans offer the security that comes from knowing what the monthly payments are going to be throughout the life of the loan. The variable-rate loans have the advantage that they offer a lower interest rate in the beginning.
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Condo Loans in Chicago
Chicago condo loans come in several varieties, to fit the different situations borrowers have. There are two main groups based on condo project situation: warrantable condos and non-warrantable condos.
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2-4 Unit Buildings
A 2-4 unit building is a great way to start a real-estate holdings empire. But getting a mortgage loan against such a building is a bit harder than getting one against a condo, townhouse or a house.
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Single Family House
When you own a property as a condo, you own the space between the floor and the ceiling, from the outside wall to the middle of the wall you share with another unit.
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DTI’s
Debt-to-income ratios are arrived at by dividing the minimum monthly payments a borrower must make by that borrower’s gross (that is to say, pre-tax but, for self-employed people, after expenses) income.
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Mortgage Rates Today
Many chase the best mortgage interest rates, few know how to get them. Because they don’t know how lenders use them.
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The Chicago Mortgage Broker
We bring a customized, unique approach to mortgages. Our lending solutions use the perfect hybrid of human-driven insights and technical prowess to process loans faster and significantly reduce costs.
PHONE
847-840-8884
ADDRESS
1000 SKOKIE BLVD., #570 WILMETTE, IL 60091
Dimension Mortgage Corp., an Illinois residential mortgage licensee – NMLS ID: 803635
Dusan Varga’s NMLS #1375831 Equal Housing Lender
Illinois Department of Financial and Professional Regulation (IDFPR) • 100 West Randolph, 9th Floor Chicago, Illinois 60601 • 800-532-8785 • www.idfpr.com
Dusan Varga’s NMLS #1375831 Equal Housing Lender
Illinois Department of Financial and Professional Regulation (IDFPR) • 100 West Randolph, 9th Floor Chicago, Illinois 60601 • 800-532-8785 • www.idfpr.com
For licensing information go to https://www.nmlsconsumeraccess.org/
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