As a portfolio lender, we underwrite and hold onto our own loans in most cases. This allows for flexibility on files that “make sense” but maybe fall outside the standard profile. Scenarios where we have an advantage over non-bank lenders would be: ARMs Many clients are getting very comfortable with an adjustable rate mortgage (ARM)
Everyone’s construction loan roadmap will be a little different and take different timeframes. The single biggest item that impacts how long it takes to close on your construction loan is when adequate plans and a budget are available. Because the construction loan appraisal is based on the plans and specs of the project, the appraiser
At Ed Currie, we offer two different construction loan programs — our standard portfolio program and Fannie Mae’s Homestyle Program. While most loans utilize the portfolio program, there are instances where the Homestyle Program can be a better option or the only option. Because we know this can be a complicated process, we’ve prepared
Ed Currie and his team understand the importance of getting you the loan you need to move into your new home, so we’ve expanded our guidelines to make the process even easier, and to help you qualify for the loan you need. Expanded Debt Ratios We’ve expanded our debt ratios up to 50 percent in
Choosing a lot for your custom home is a critical step in your home-building journey. In fact, some say it’s even more important than the home you’ll build on it. Here are some important factors to consider when buying your lot. Location The first rule in real estate (Location, Location, Location) definitely applies when purchasing
Owning a home is one of the biggest investments most people make in their lifetime. Being aware of tax deductions and other credits available will give this big purchase every opportunity to pay you back a little come tax time. Here are six tips for homeowners to maximize your tax deduction: Tip #1: Be Organized
Because of the need for physical distancing to help stop the spread of COVID-19, many of us are required to work from home. While for some this may be a new challenge in a difficult time, adjusting to working from home can be easily done when armed with the right information helping you quickly develop
The move in the U.S. Treasury market recently has been historic. The benchmark 10-year treasury in the past 13 trading days has dropped over 1% trading this morning at about 0.50%. I would expect the Federal Reserve to throw the kitchen sink at the market on Monday in an attempt to stabilize the markets. In addition to
The wind and cold may be fierce, but Chicago winters are hot with fun things to do for the whole family. Here are a few of our favorites: Skating at Millennium Park It wouldn’t be winter in Chicago without taking a few laps in your ice skates at McCormick Tribune Ice Rink at Millennium Park.
