Still not convinced?
Contact us for additional tips for refinancing your home.
After securing your mortgage professional, you will need to find a reputable real estate agent who will represent you in the transaction. A good agent will be an expert on your geographical area, schools, local and property-specific amenities, prices, etc. A good agent will never want you to overpay for a property. They should provide you with a list of properties in your price range determined by a mortgage professional and never push you to buy what you may not be able to afford. A good agent will show you a few properties, allowing you to form your own opinion about the area, property, types of amenities, etc. Ensure that your mortgage broker assist you in planning your mortgage pre-approval process.
At Opportune, Inc., when you plan to buy or refinance your home, we recommend consulting with a team that has decades of experience. If you live Chicago, greater Chicagoland, or anywhere in Illinois, you should work with a trusted local lender that can help you with your home buying and refinancing process.
When discussing your potential home with a real estate agent, the following factors should be taken into consideration:
After you decide that a particular property meets your requirements, you will make an offer that your real estate agent will then present to the seller. If this offer is acceptable, both you and the seller will sign a purchase contract. This is your first step in planning the mortgage pre-approval process.
Most offers will require an earnest money deposit, which may range from 1% to 5% of the purchase price. These funds will be applied at closing in the form of a credit towards the purchase price.
After your offer is accepted you will formally apply for financing. In most instances, the lender will require a real estate appraisal to determine the value of the property. Please note that if the property appraises for less than the purchase price, the lender will use the lower value and your loan amount may adjust depending on the appraised value. If the appraisal comes in higher, the purchase price, not the appraised value, will be used to determine your loan amount.
Your real estate agent may also suggest that you hire a professional home inspector. This is often a good idea to avoid potential pitfalls later with construction and repairs. Usually, the inspector will give you a report that may contain issues that he/she notices while inspecting the property.
Contact us for additional tips for refinancing your home.
With over 50 five star reviews, our customer ratings speak for themselves. We’ve served hundreds of Chicagoland and Illinois clients and we’re excited to work with you.
Synonyms: favorable (terms), advantageous (rates), timely (execution), convenient (location), suitable (strategies)
Equal Housing Lender Illinois Residential Mortgage Licensee. NMLS #276689
An Opportune, Inc. NMLS-ID. 276689
Illinois Residential Mortgage Licensee, MB 6759387
Illinois Department of Financial and Professional Regulation, Division of Banking
100 W. Randolph Street, 9th Floor, Chicago, IL 60601
All Inquiries: 1-888-473-4858 TYY: 1-866-325-4949
Florida Residential Mortgage Licensee, MBR4281
Office of Financial Regulation
200 E. Gaines Street, Tallahassee, FL 32399
Phone: (850) 487-9687 Fax: (850) 410-9663
For Licensing Information, go to: www.nmlsconsumeraccess.org
©2021 AN OPPORTUNE, INC. ALL RIGHTS RESERVED. BUILT BY VISUALFIZZ