tag:blogger.com,1999:blog-58571363615699177992024-03-12T17:51:51.225-05:00A & N Mortgage Services, Inc.A & N Mortgage Services, Inc.'s mission is to provide you with high quality programs tailored to fit your unique situation at some of the most competitive rates in the nation. Our professionals are accessible around the clock, and strive to obtain the best mortgage and real estate options, no matter the situation. A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.comBlogger31125tag:blogger.com,1999:blog-5857136361569917799.post-15523607072637039842015-09-29T07:55:00.003-05:002015-09-29T07:58:39.914-05:00Three Reasons to Refinance<div style="background-color: white; color: #4c4c4c; font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 11pt; line-height: 20.8267px;">
<a href="http://2.bp.blogspot.com/-CGc8a9gOZSs/VgqK9h52E-I/AAAAAAAAAOs/-lSdz9nQm6g/s1600/Time%2Bto%2Brefinance.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="207" src="http://2.bp.blogspot.com/-CGc8a9gOZSs/VgqK9h52E-I/AAAAAAAAAOs/-lSdz9nQm6g/s320/Time%2Bto%2Brefinance.jpg" width="320" /></a><span style="line-height: 20.8267px;"><strong style="line-height: 20.8267px;">To move from an adjustable-rate mortgage to a fixed-rate loan</strong><br style="line-height: 20.8267px;" />Sometimes you have to settle for an adjustable-rate to get a lower interest rate when you really need it. Now that you have been making your monthly payments on a regular basis and interest rates are low, this might be the perfect time to lock yourself into a low fixed-rate mortgage. <br style="line-height: 20.8267px;" /><br style="line-height: 20.8267px;" /><strong style="line-height: 20.8267px;">To shorten the term of your loan</strong><br style="line-height: 20.8267px;" />If you bought your home under a 30-year mortgage to save money on your monthly payments, you might find that the lower interest rates we are experiencing right now might make a 15-year mortgage out to be only a bit more expensive, or even less expensive, than what you are currently paying. <br style="line-height: 20.8267px;" /><br style="line-height: 20.8267px;" /><strong style="line-height: 20.8267px;">To take advantage of less expensive mortgage insurance</strong><br style="line-height: 20.8267px;" />In early 2015, the Federal Housing Administration announced that it would reduce the mortgage insurance premium rate charged for FHA-backed loans from 1.35 percent to 0.85 percent. Some estimates say that can mean a savings of as much as $900 a year for anyone refinancing a house. The FHA made this decision to spur home buying, but it works out in your favor too, if you refinance. Even better, if you have enough equity in your home, you might be able to refinance from an FHA loan to a conventional mortgage and remove those mortgage insurance payments altogether! </span></div>
<div style="background-color: white; color: #afdde4; font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt; line-height: 18.9333px;">
<span style="font-size: 11pt; line-height: 20.8267px;"><strong style="line-height: 20.8267px;"><span style="color: #323232; line-height: 20.8267px;">Stay connected. Stay educated. Stay saving with A and N Mortgage.</span> </strong></span></div>
<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com28tag:blogger.com,1999:blog-5857136361569917799.post-23619396239858238522015-01-31T09:17:00.003-06:002015-01-31T09:17:42.525-06:005 Goals to Help Your 2015 Budget <style>
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<br />
<span style="font-size: small;"><span style="font-family: Times;">A New Year brings new
goals. Financially you may wish to build up savings, pay off debt, manage
monthly spending or save for retirement. Here are five goals to help you stick
to your 2015 financial resolutions.</span>
</span><br />
<div class="MsoNormal">
<a href="http://3.bp.blogspot.com/-k6RFKV8qPqw/VMzx8BH7oHI/AAAAAAAAAMk/fUlHQT49rV0/s1600/ANMTG%2B2015%2BBudget.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="http://3.bp.blogspot.com/-k6RFKV8qPqw/VMzx8BH7oHI/AAAAAAAAAMk/fUlHQT49rV0/s1600/ANMTG%2B2015%2BBudget.jpg" height="208" width="320" /></a><span style="font-size: small;"><span style="font-family: Times;"><br />
<b>Make Extra Mortgage Payments</b></span></span></div>
<span style="font-size: small;">
</span><br />
<div class="MsoNormal" style="margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: Times;">Making extra payments can dramatically shorten the time
until your mortgage will be paid in full</span><span style="font-family: Times;">.</span></span></div>
<span style="font-size: small;">
</span><br />
<div class="MsoNormal">
<b><span style="font-size: small;"><span style="font-family: Times;">Pay Off Your Second
Mortgage</span></span></b></div>
<span style="font-size: small;">
</span><br />
<div class="MsoNormal" style="margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: Times;">It's not always easy to pay off a second mortgage, but the
freedom from that added debt and interest expense can be well worth the effort.</span><span style="font-family: Times;"></span></span></div>
<span style="font-size: small;">
</span><br />
<div class="MsoNormal">
<b><span style="font-size: small;"><span style="font-family: Times;">Investigate Your
Property Taxes</span></span></b></div>
<span style="font-size: small;">
</span><br />
<div class="MsoNormal" style="margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: Times;">If your house has declined in value in recent years, you
might be able to save some money in 2015 by contesting your property tax
assessment.</span><span style="font-family: Times;"></span></span></div>
<span style="font-size: small;">
</span><br />
<div class="MsoNormal">
<b><span style="font-size: small;"><span style="font-family: Times;">Refinance</span></span></b></div>
<span style="font-size: small;">
</span><br />
<div class="MsoNormal" style="margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: Times;">Refinancing your mortgage to decrease your payment or lock
in a low fixed rate also might be a smart move in the new year.</span></span></div>
<b><span style="font-size: small;">
</span></b><br />
<div class="MsoNormal">
<b><span style="font-size: small;"><span style="font-family: Times;">Look For Homeowner's
Insurance Discounts </span></span></b></div>
<span style="font-size: small;">
</span><br />
<div class="MsoNormal" style="margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: Times;">Major repairs or improvements that you made to your home
last year can get you a discount or a lower quote on this year's coverage.</span><span style="font-family: Times;"></span></span></div>
<span style="font-size: small;">
</span><br />
<div class="MsoNormal" style="margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: Times;">Whatever your goals may be make sure to reach out to your A
and N mortgage consultant. A and N is always here to help.</span><span style="font-family: Times;"></span></span></div>
<span style="font-size: small;">
</span><br />
<div class="MsoNormal">
<span style="font-size: small;"><span style="font-family: Times;">Stay connected. Stay educated. Stay
saving with A and N Mortgage.</span><span style="font-family: Times;"> </span></span></div>
<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com5tag:blogger.com,1999:blog-5857136361569917799.post-72582864969783248782014-07-25T15:50:00.004-05:002014-07-25T15:51:46.649-05:00A and N Mortgage Homeowner Tips: Making the Most of Your Yard This Summer <div class="separator" style="clear: both; text-align: center;">
<a href="http://3.bp.blogspot.com/-a-P34UaE4Bs/U9LC7UEbpHI/AAAAAAAAAMQ/zWqBXXyVxB4/s1600/AN+Tips+make+the+most+of+your+yard.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="http://3.bp.blogspot.com/-a-P34UaE4Bs/U9LC7UEbpHI/AAAAAAAAAMQ/zWqBXXyVxB4/s1600/AN+Tips+make+the+most+of+your+yard.png" height="211" width="320" /></a></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;">Whether it's cooking on the grill, planting a garden, or simply relaxing in a hammock under a tree, homeowner's love their yards. Here are some tips to help you get the most out of the great outdoors.</span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><br /></span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 11pt;">
<span style="background-color: white;">Outdoor Kitchen </span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;">An outdoor kitchen is perfect for entertaining in your backyard. If your grill will be used under a covered area, include a power vent hood or other method for venting the smoke. The cabinets for an outdoor kitchen should be built to resist the elements. This could be custom cabinets, using treated lumber and plywood, or ones made from a weatherproof material. </span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><br /></span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 11pt;">
<span style="background-color: white;">Choosing a Grill </span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;">Appliances and grills for outdoor kitchens are usually made from stainless steel to make them weatherproof as well. While most grills today are gas fired, cooking with hardwoods-like hickory, pecan, or oak-can produce better results. Using starter sticks, rather than lighter fluid, to light a wood or charcoal fire can improve the taste of the food. The insulating qualities of ceramic charcoal cookers, like the Big Green Egg, allow them to be used as a conventional grill or as a smoker oven for slow cooking. </span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><br /></span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 11pt;">
<span style="background-color: white;">Grill Maintenance </span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;">Use a wire brush to clean the cooking grate after each use. Once a year, disassemble the grill and clean it thoroughly. Remove cooking grates, soak in liquid grill cleaner, scrub with a wire brush, and rinse. Take out the ceramic plates or briquettes and clean them with a wire brush. Remove the burners and use a wire brush to take off residue and rust. Clean out the burner holes by inserting a toothpick into each hole. Use a wet/dry vac to vacuum out the inside of the grill. Reassemble all the grill components. Light the grill and leave it on for a few minutes to burn off any remaining residue. </span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><br /></span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 11pt;">
<span style="background-color: white;">Keeping Cool </span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;">Shade is essential for summer backyard activities. <span style="font-size: 10pt;">Popular options include: </span></span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
</div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><span style="text-decoration: underline;">Shade arbor</span>: An outdoor arbor covered with vines makes a cool retreat on a hot summer day. </span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><br /></span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><span style="text-decoration: underline;">Roof:</span> Extending the roof of your house to cover a patio works well.</span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><br /></span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><span style="text-decoration: underline;">Awning</span>: A retractable awning is a great way to create shade when and where you need it. </span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><br /></span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><span style="text-decoration: underline;">Misting System</span>: Outdoor misters keep you cool by spraying a fine mist of water in the air. Misting systems are available as inexpensive DIY Outdoor Cooling Kits as well as portable misting umbrellas that hook to a garden hose. </span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><br /></span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 10pt;">
<span style="background-color: white;"><span style="text-decoration: underline;">Water Feature</span>: The soothing sound of falling water from a fountain or waterfall can make your yard feel like an oasis during a summer heat wave. Pre-made water features are available, or you can build your own custom water feature for your backyard. </span></div>
<span style="background-color: white;"><br style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 12.222222328186px;" /></span>
<br />
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 12.222222328186px;">
</div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 12.222222328186px;">
<span style="background-color: white; font-family: Times; font-size: small;">Keeping You Informed</span></div>
<div style="font-family: Helvetica, Calibri, Arial, sans-serif; font-size: 12.222222328186px;">
<span style="background-color: white; color: white; font-family: Times; font-size: small;"><a href="http://anmtg.com/" target="_blank">A and N Mortgage</a> professionals are dedicated to keeping you informed of the latest market trends, household tips and mortgage options. Call A and N Mortgage today to obtain custom loan options designed to fit your needs and help you obtain your home goals.</span></div>
<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com3tag:blogger.com,1999:blog-5857136361569917799.post-61989968894104886152014-06-16T21:01:00.005-05:002014-06-16T21:06:50.909-05:00Renovation Lending Aids the Property Search Given Available Inventory<div class="MsoNormal">
<a href="http://2.bp.blogspot.com/-2Vb0-Cn8Mkc/U5-g5PZZHPI/AAAAAAAAAMA/7DFQPsCnrAk/s1600/Carrie+Rosenberg+Renovation+Loan+Blog+Photo.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="http://2.bp.blogspot.com/-2Vb0-Cn8Mkc/U5-g5PZZHPI/AAAAAAAAAMA/7DFQPsCnrAk/s1600/Carrie+Rosenberg+Renovation+Loan+Blog+Photo.jpg" height="320" width="213" /></a>One problem facing buyers in the current market is the lack
of available inventory. Sellers continue to bide their time. However, buyers do
not need to miss out on low interest rates or the ability to purchase in their
target neighborhoods. Although Renovation Lending is not the solution for every
borrower, it is an opportunity to get into certain areas by purchasing a
potentially lower- priced property and then borrowing enough money to fix it
up.<span style="mso-spacerun: yes;"> </span>It is by no means a panacea, but it
is certainly an option and in many cases, one which can rapidly increase the
equity in your property.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
A Renovation Loan differs in many ways from a traditional
construction loan. Reno loans are closed one time, with the purchase money
going to the seller and the renovation funds placed in an escrow account held
by the lender throughout the draw process. In most cases, there is no upfront
money from you or the lender for the contractor; the General Contractor works
on a draw basis. This is not a hardship for any solvent contractor as they
should have the ability to buy materials and pay their sub-contractors while
being reimbursed through inspected draws. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Most neighborhoods still have a large quantity of
foreclosures that need to be fixed up or even<span style="color: red;"> </span>properties
that are<span style="color: red;"> </span>simply<span style="color: red;"> </span>outdated.
<span style="mso-spacerun: yes;"> </span>Here are some key words that indicate
that the property may be right for a Renovation Loan:</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
</div>
<ul>
<li>Sold
“as-is</li>
<li><span style="text-indent: 0.5in;">Estate Sale</span></li>
<li><span style="text-indent: 0.5in;">Any
foreclosure that has NOT been recently updated</span></li>
<li>Fannie
Mae or Freddie Mac foreclosures (especially the Fannie Mae HomePath properties)</li>
<li>“fixer-upper”</li>
<li>Handyman’s
dream</li>
<li>Current
occupant has 400 cats</li>
<li><span style="text-indent: 0.5in;">Property needs “love or attention”</span></li>
</ul>
<div class="MsoNormal">
<span style="text-indent: 0.5in;"><br /></span></div>
<div class="MsoNormal" style="text-indent: .5in;">
<o:p></o:p></div>
<div class="MsoNormal">
Depending on your budget, you can gut a property or just
update the kitchens and bathrooms. As long as the property is habitable at the
end of the six month rehab period and you remain within the guidelines of the
loan program, you can often use your imagination as to what you would like your
home to end up looking like. You can even purchase and rehab a 2-4 unit
property as long as you occupy one of the units! <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
So, before you start your next tour with your agent,
consider asking about properties that are ripe for renovation. It may be an
opportunity to create the home you dream about and live in the neighborhood you
choose! Contact <a href="http://www.linkedin.com/in/carrierosenberg" target="_blank">Carrie Rosenberg, renovation loan specialist,</a> for more information.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Next topic: Which Renovation Loan Product is right for you?<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
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<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com2tag:blogger.com,1999:blog-5857136361569917799.post-18581932765282118562014-06-10T13:33:00.001-05:002014-06-10T13:34:05.177-05:00TaxSmart Mortgage Credit Certificate Program<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">TaxSmart is a Mortgage Credit Certificate (MCC) program that provides a federal income tax credit to qualified homebuyers. A tax credit is a direct reduction of taxes due. Under the program, a homebuyer would receive a MCC to reduce income taxes by an amount equal to 20 percent of the interest paid on a mortgage. The tax credit may be claimed each year the home buyer continues to live in a home financed under this program. The homebuyer will be charged a $375.00 application fee of which $225.00 is due at loan closing to the <b>City of Chicago, Department of Planning and Development</b>. A charge of $100.00 will apply to replace or reissue a Series 2013 MCC Certificate for any cause including, and without limitation, due to being lost or misplaced, being damaged, a refinance of the existing mortgage, or any other reason allowed by the Code or the Program Regulations.</span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Federal law requires that a home buyer satisfy each of the following guidelines:</span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b>First-Time Homebuyer or Target Area Purchase</b></span></span></div>
<span lang="EN"></span><br />
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Any person who has not owned a principal residence at any time during the three years prior to closing a loan under this program is considered a first-time home buyer. Non first-time homebuyers are also eligible if they purchase a home in a designated target area.</span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b>Income</b></span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Federal law imposes maximum limits on the annual gross income of home buyers.</span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b>Purchase Price</b></span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Federal law also imposes limits on the purchase price of homes financed under the program.</span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b>Principal Residence</b></span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The home buyer must occupy the home as a principal residence within a reasonable period which, under most circumstances, may not exceed 60 days after financing is provided. A principal residence is a home occupied primarily for residential purposes and does not include a home used as an investment property, as a recreational home or a home in which 15 percent or more of its total area is used for a trade or business.</span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b>One-to Four-Family Home</b></span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Each residence financed must contain 1-4 units. A one-family residence includes a detached home, one unit of a duplex, a townhouse or a condominium unit. If the residence is a 2-4 unit building, one unit of the residence must be the principal residence of the building owner and the residence must have been first occupied for residential purposes at least five years prior to applying for a mortgage loan financed in connection wi t h the MCC.</span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b>New Mortgage</b></span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The <a href="http://anmtg.com/" target="_blank">mortgage loan</a> financed in connection with a MCC certificate is required to be a new mortgage and may not replace a prior mortgage on the home (whether or not previously repaid).</span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b>Program Area</b></span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">In order to be eligible for a MCC certificate, the home financed under the program must be located in the City of Chicago.</span></span></div>
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<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Mortgage credit certificates are issued to eligible home buyers on a first-come, first-served basis. The certificates are available in connection with any type of mortgage loan (except loans from tax-exempt bond programs), including fixed rate and adjustable rate mortgages.</span></span></div>
<div class="ecxMsoNormal" style="background-color: white; color: #444444; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: left;">
<span lang="EN"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><a href="http://anmtg.com/" target="_blank">First-time homebuyers</a> must receive pre-purchase counseling to be eligible and must provide a certificate of completion of pre-purchase counseling with their applications. Applications and additional information are available from participating<a href="http://www.cityofchicago.org/content/city/en/depts/dcd/supp_info/taxsmart_mortgagelenders.html" style="color: blue; cursor: pointer;" target="_blank" title="Lenders Page"> </a><a href="http://www.cityofchicago.org/content/city/en/depts/dcd/supp_info/taxsmart_mortgagecreditcertificateprogram-mccseries2010lenderlis.html" style="color: blue; cursor: pointer;" target="_blank" title="Lender List">TaxSmart Mortgage Lenders.</a></span></span><span style="font-family: Calibri, sans-serif;"></span></div>
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<table border="0" cellpadding="0" cellspacing="1" class="ecxMsoNormalTable" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: 21.30000114440918px; width: 100%px;"><tbody>
<tr><td colspan="3" style="background: rgb(255, 255, 204); padding: 2.25pt;"><div class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em;">
<span class="ecxbodytextbold"><b>Income Limits</b></span></div>
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<br /></div>
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<strong><span style="font-family: Calibri, sans-serif;">Non-Target Area</span></strong></div>
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<strong><span style="font-family: Calibri, sans-serif;">Target Area</span></strong></div>
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<tr><td style="background: white; padding: 2.25pt;"><div class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em;">
Less than three-person Household</div>
</td><td style="background: white; padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$88,320</div>
</td><td style="background: white; padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$88,320</div>
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Three or more person Household</div>
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$102,985</div>
</td><td style="background: white; padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$103,040</div>
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<br /></div>
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<tr><td colspan="5" style="background: rgb(255, 255, 204); padding: 2.25pt;"><div class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em;">
<strong><span style="font-family: Calibri, sans-serif;">Purchase Price Limits*</span></strong></div>
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<strong><span style="font-family: Calibri, sans-serif;">Non-Target Area </span></strong> <strong><span style="font-family: Calibri, sans-serif;">Target Area</span></strong></div>
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<br /></div>
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<strong><span style="font-family: Calibri, sans-serif;">Existing</span></strong></div>
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<strong><span style="font-family: Calibri, sans-serif;">New Construction</span></strong></div>
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<strong><span style="font-family: Calibri, sans-serif;">Existing</span></strong></div>
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<strong><span style="font-family: Calibri, sans-serif;">New Construction</span></strong></div>
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<tr><td style="background: white; padding: 2.25pt;" valign="top"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
One Unit</div>
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$357,750</div>
</td><td style="padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$357,750</div>
</td><td style="padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$437,250</div>
</td><td style="background: white; padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$437,250</div>
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Two Unit</div>
</td><td style="background: white; padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$457,973</div>
</td><td style="padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
Ineligible</div>
</td><td style="padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$559,744</div>
</td><td style="background: white; padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$559,744</div>
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Three Unit</div>
</td><td style="background: white; padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$553,598</div>
</td><td style="padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
Ineligible</div>
</td><td style="padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$676,619</div>
</td><td style="background: white; padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
Ineligible</div>
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<tr><td style="background: white; padding: 2.25pt;" valign="top"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
Four Unit</div>
</td><td style="background: white; padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$687,961</div>
</td><td style="padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
Ineligible</div>
</td><td style="padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
$840,842</div>
</td><td style="background: white; padding: 2.25pt;"><div align="center" class="ecxMsoNormal" style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.720001220703125px; margin-bottom: 1.35em; text-align: center;">
Ineligible</div>
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<br /></div>
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<em>*These limitations are periodically adjusted and do not apply to mortgage credit certificates issued with respect to qualified home improvement loans.</em></div>
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<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com2tag:blogger.com,1999:blog-5857136361569917799.post-48347110132836891252014-04-25T17:23:00.001-05:002014-04-25T17:44:25.406-05:00The 'Welcome Home Illinois Loan Program"<div class="ecxMsoNormal" style="background-color: white; color: #444444; font-size: 15px; line-height: 21.299999237060547px; margin-bottom: 1.35em;">
</div>
<h4 style="background-color: white; color: #444444; font-size: 15px; line-height: 21.299999237060547px; margin-bottom: 1.35em;">
</h4>
<h4>
<a href="http://1.bp.blogspot.com/-0b-YzAEBnwc/U1rfz-LJBYI/AAAAAAAAAJs/OMenP7k4x8c/s1600/modern-home-interior-1013tm-pic-1184.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="http://1.bp.blogspot.com/-0b-YzAEBnwc/U1rfz-LJBYI/AAAAAAAAAJs/OMenP7k4x8c/s1600/modern-home-interior-1013tm-pic-1184.jpg" height="212" width="320" /></a><span style="font-weight: normal;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="color: black; line-height: normal;"><span style="background-color: rgba(255, 255, 255, 0); line-height: 21.299999237060547px;">The state of Illinois started a huge advertising campaign 2 weeks ago for a new program called "Welcome Home Illinois". Your members may be calling for more information. The program gives 1st time home buyers (a buyer who hasn’t owned a home in the last 3 yrs. ) $7,500 towards the purchase of a new home which is a forgiven loan after 5 yrs . </span></span></span></span><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="font-weight: normal; line-height: 21.299999237060547px;"><br /></span></span><span style="font-weight: normal;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="background-color: rgba(255, 255, 255, 0); color: black; font-size: 15px;">The interest rate is set by the Illinois Dept. Of Affordable Housing and they are offering below market rates. There are income limitations and they go by total household income not applicant income , a family of 3 or more can’t make more than $106,000.00 </span><span style="background-color: rgba(255, 255, 255, 0); color: black; font-size: 15px;">Below are the highlights:</span></span></span><br />
<ul>
<li><span style="background-color: rgba(255, 255, 255, 0); color: black; font-size: 15px; font-weight: normal;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">$ 7,500 forgiven loan after 5 years</span></span></li>
</ul>
<ul>
<li><span style="background-color: rgba(255, 255, 255, 0); color: black; font-size: 15px; font-weight: normal;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Below market interest rate</span></span></li>
</ul>
<ul>
<li><span style="background-color: rgba(255, 255, 255, 0); color: black; font-size: 15px; font-weight: normal;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Reduced PMI rates</span></span></li>
</ul>
<ul>
<li><span style="background-color: rgba(255, 255, 255, 0); color: black; font-size: 15px; font-weight: normal;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">As little as 3% down</span></span></li>
</ul>
<ul>
<li><span style="background-color: rgba(255, 255, 255, 0); color: black; font-size: 15px; font-weight: normal;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Down payment can be 100% Gifted</span></span></li>
</ul>
<ul>
<li><span style="background-color: rgba(255, 255, 255, 0); color: black; font-size: 15px; font-weight: normal;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Conventional , FHA and VA products available</span></span></li>
</ul>
<span style="color: black; font-family: Helvetica Neue, Arial, Helvetica, sans-serif; line-height: normal;"><span style="background-color: rgba(255, 255, 255, 0); font-weight: normal; line-height: 21.299999237060547px;">I’ve worked with the state's down payment assistance programs for many years and the down side had always been that the state’s interest rates were always .50% - .75% higher than what I could offer in the secondary market. This is the 1 st time they are offering below market rate so there’s really very little downside. </span></span><br />
</h4>
<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com10tag:blogger.com,1999:blog-5857136361569917799.post-75927423493427040802014-02-25T23:49:00.002-06:002014-02-25T23:51:17.936-06:00A and N Mortgage Tips: New Year, New Changes for 2014 Mortgages<div style="line-height: 17.040000915527344px;">
<a href="http://4.bp.blogspot.com/-_S44MMgMhpM/Uw2AG-mN40I/AAAAAAAAAJU/lyZYb0TUtdE/s1600/A+and+N+Mortgages+2014.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="http://4.bp.blogspot.com/-_S44MMgMhpM/Uw2AG-mN40I/AAAAAAAAAJU/lyZYb0TUtdE/s1600/A+and+N+Mortgages+2014.jpg" height="204" width="320" /></a><br />
<div style="margin-bottom: 1.35em;">
<span style="background-color: white;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Mortgages Affected: 2014</span></span></div>
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<div style="margin-bottom: 1.35em;">
<span style="background-color: white;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The Consumer Financial Protection Bureau are enforcing a new set of Qualified Mortgage rules that will start to phase in on January 10th, 2014 and the residential real estate market could be in for some major changes. The vast majority of mortgages issued these days are "Qualified" which means a borrower has to meet specified standards to obtain a home loan. In general home shoppers will undergo more scrutiny and may see their borrowing power shrink. In addition interest rates are also expected to be up possibly to as much as the mid 5 percent range.</span></span></div>
<div style="margin-bottom: 1.35em;">
<span style="background-color: white;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">These new rules all but eliminate most of the lending practices that caused the housing market bubble to burst. </span></span></div>
<div style="margin-bottom: 1.35em;">
<span style="background-color: white; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Here are some of the new rules:</span></div>
<div style="margin-bottom: 1.35em;">
<span style="background-color: white;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The maximum debt to income ratio decreases from the current 45 percent to 43 percent. </span></span></div>
<div style="margin-bottom: 1.35em;">
<span style="background-color: white;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">There can be temporary exceptions made to this rule that allow for higher debt ratios for loans that can be purchased by Fannie Mae and Freddie Mac. The obvious negative impact is that borrowers who are lower income or are really stretching themselves to get a mortgage may not qualify for as much as they need.</span></span></div>
<div style="margin-bottom: 1.35em;">
<span style="background-color: white;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The new rules also help speed up the process of getting a mortgage by giving lenders the authority to reject outright credit-report information if a borrower can prove that it's wrong. This is a huge help as in the past lenders many times would use the credit report as the final authority.</span></span></div>
<div style="margin-bottom: 1.35em;">
<span style="background-color: white;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The Qualified Mortgage grants the creditor greater protection from potential liability. Under this rule, lenders cannot include toxic features such as negative-amortization ARMs that increase borrowers' debt with each monthly payment, or excessive upfront points and fees.</span></span></div>
<div style="margin-bottom: 1.35em;">
<span style="background-color: white;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">In conjunction with the lower debt ratios, interest rates are going to affect how much money a homeowner can borrow. Economists are expecting interest rates to rise gradually during the coming year. The predictions for the most part put interest rates gradually rising throughout the year, starting at the high 4 percent range in the beginning of the year and hitting possibly 5.3 percent or more by years end. Put simply, you will probably get more bang for the buck if you buy your house earlier in the year.</span></span><span style="background-color: white; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"> </span></div>
<div style="margin-bottom: 1.35em;">
<span style="background-color: white;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The process of obtaining a home loan can be arduous and confusing. New rules all the time, paperwork that's never-ending can lead to frustration and high blood pressure. So consider contacting your local mortgage broker as they are the experts that keep up on these new rules and regulations and can help answer any questions you have.</span></span></div>
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<div style="margin-bottom: 1.35em;">
<span style="background-color: white; text-decoration: underline;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Keeping You Informed</span></span></div>
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<span style="background-color: white;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">A and N Mortgage mortgage professionals are dedicated to keeping you informed of the latest market trends and mortgage options. Call A and N Mortgage today to obtain custom loan options designed to fit your needs and help you obtain your home goals.</span></span><br />
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THIS IS AN ADVERTISEMENT. This is not a commitment to lend. A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN <a href="http://r20.rs6.net/tn.jsp?f=001vAiVn6fd7pD4W2zP2PEdKHDueyz7mB4ocUivb6kGEJPSylUZphcHNyMxA6qJDGUGKg3Zk__lOxHocmOvC2BsScZsRAZge4YulY9WoR2Kxdu2MrvvUG-rdr_nvClxMs5hRMrOP7VZJ7X_XoqG49V-GBzuiZLg2DYapzoP2eHA8txFcnqXnkk0v8y7Digy4shg0WAmZ1E-dvsjGypv5fXMHORH-1Qhr3r7t5lGW7JbN0zh7ObW8aEActBss8RjOBx5s0LlTNFliSTGbnQVfrvgv72XxZtWWNUzqXrTqsxU4jHU_ESh5H9XGFcormMu7rLHJOlbSc-AwjF0ZTBICDN-9jeMneM_q46P&c=2vOzb0dHxjvuARMnnp1H9Vm9dxgD3ggTtKNKaYtvUg1e1Um_Auu9bQ==&ch=uBovYvb-owzr5ChLC3Yl92p36b6jWDPINU5ZdCx0HmkqaCCQEH7RdA==" shape="rect" style="color: #afdde4; cursor: pointer; font-weight: inherit;" target="_blank">ANMtg.com </a><br />
IL MB.0006638, FL MLD288, IN 11122, IA 2006-0064, MA MC19291, MI FL0012625, WI 19291BA/BR </div>
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<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com51945 North Elston Avenue, Chicago, IL 60647, USA41.917741799999988 -87.66680969999998816.262670299999989 -129.1511847 67.572813299999979 -46.182434699999988tag:blogger.com,1999:blog-5857136361569917799.post-10040037348537345602013-07-15T10:26:00.003-05:002013-07-15T10:27:52.276-05:00Save Big Over The Life Of Your Loan<table border="0" cellpadding="0" cellspacing="0" class="" id="content_LETTER.BLOCK4" style="width: 100%px;"><tbody>
<tr><td align="left" colspan="1" rowspan="1" style="font-family: 'Century Gothic', 'ITC Avant Garde', Arial, Helvetica, sans-serif; font-size: 14pt; padding: 0px 23px 10px;" valign="top"><span style="font-size: 9pt;">When purchasing a home, the interest rate of your loan is of prime importance as it can dramatically affect the amount you pay for your home. Depending on the amount of your loan, a 1 percent difference in loan rate can amount to hundreds of dollars a month, which on a 30 year loan can mean tens of thousands of dollars going into or out of your pocket. Here are some tips to get you the best possible interest rates on your loan.</span><br />
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<span style="font-size: 9pt;"><br /><b>Tip 1</b></span><br />
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<span style="font-size: 9pt;">Conventional lenders charge a higher interest rate for lower credit scores. This is a pretty obvious statement to anyone who has in the past bought anything on credit or has a credit card. The difference in interest rates for a 620 credit score and an 800 credit score could be as much as .5 percent. If your credit score is under 700 it is recommended you use a credit score simulator to help you improve your credit score, although it could take several months to improve your credit score.</span></div>
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<b>Tip 2</b><div style="font-size: 9pt;">
Make a larger down payment. Today it is common for lenders to require a 20 percent down payment on the house you wish to buy to secure a mortgage. You can improve your chances of securing a loan and decreasing your interest rate by increasing the amount to more than 20 percent. Why? Because you are making a greater equity investment in your house thereby lessening the lending institution's risk of making a loan to you. A higher down payment can mean a .1 to .15 percent interest rate reduction. Of course, the higher the purchase price the bigger the difference.</div>
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Pay points. Paying discount points can reduce your interest rate by a quarter of a percent. Points are considered a prepayment of interest, and each point is equal to one percent of the loan amount. On a $200,000 loan, this could mean $40,000 in savings over the life of the loan.</div>
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Shorten your loan term. Typically by shortening your loan term, you can reduce your interest rate by one-eighth to three-eighths of a percent depending on the loan term. Obviously you have to make sure you can handle the larger payment due to the shorter term</div>
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Buy a single family home. Without a doubt, you will get the best interest rate on a single family home. Condominiums and townhomes are considered a riskier investment because they tend to lose more value than single family homes when housing markets are softer. If you increase your down payment you may avoid paying a higher interest rate for a condo/townhome loan. </div>
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These tips are just a few of the more important ones related to securing the lowest possible interest rate for your home loan. Depending on which of these tips you choose or are able to take advantage of, you could possible save $50,000 to $100,000 or more over the life of your loan.</div>
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<b>Keeping You Informed</b>A and N Mortgage Services, Inc. mortgage professionals are dedicated to keeping you informed of the latest market trends and mortgage options. Call A and N Mortgage Services, Inc. today to obtain custom loan options designed to fit your needs and help you obtain your home goals.</div>
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<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com11945 North Elston Avenue, Chicago, IL 60642, USA41.9169215 -87.66672719999996841.916875 -87.666806199999968 41.916968000000004 -87.666648199999969tag:blogger.com,1999:blog-5857136361569917799.post-26801647974428568652013-07-01T16:17:00.003-05:002013-07-01T16:18:53.334-05:00Lower Your Costs While Making An Impact<h2>
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<a href="http://1.bp.blogspot.com/-XgVMqW1pzCk/UdHxZ7JDSMI/AAAAAAAAAII/svrJtUzcK-s/s800/539.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="207" src="http://1.bp.blogspot.com/-XgVMqW1pzCk/UdHxZ7JDSMI/AAAAAAAAAII/svrJtUzcK-s/s320/539.jpg" width="320" /></a>There is no denying in today's society there is more awareness and interest in being green and as such people are becoming more interested in using green building techniques. Key components include using energy efficiency techniques, sustainable building materials and energy efficient appliances in homes that help to lower cost and environmental impact.<br />
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Heating and cooling interior spaces can account for as much as 50 percent of a home's energy use. Since that percentage is so high insulation becomes an increasingly important component in having a green home. Poor insulation equals wasted energy and higher energy costs. Some things that can be done to improve energy efficiency include using spray insulation to seal air gaps in walls and attics. Building exterior walls with 6-inch-wide studs instead of the traditional 4-inch s<br />
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tuds will also help the cause. The use of caulk to seal all gaps around doors and windows is a must. And of course, use Energy Star-rated low energy windows.</div>
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Tip 2</h4>
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One way to have a more energy efficient design is to keep the sun and wind in mind when designing your home. Using overhangs to help shade windows in summer while allowing sun to warm the house in winter are smart and money saving ideas. Planting shade trees near the south-facing sides of buildings can also help. A well placed skylight or two can help by increasing natural light in the home and allowing you to keep those light switches in the off position.<br />
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Tip 3</h4>
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If you are really serious about your home being green the use of sustainable materials is a must. One way to really do your part is to use reclaimed lumber. Reclaimed lumber is lumber that has previously been used to build houses and factories. It is thought that reclaimed lumber is stronger than today's lumber due to the fact much of it was harvested from virgin forests. You may have to put some serious time into finding reclaimed lumber as its use is very popular in certain parts of the country. The bonus is you will probably spend less money in the end using reclaimed wood. Being green doesn't stop with using recycled wood. Recycled plastics and composites also are abundantly available. Many times these are long lasting products that don't need to be replaced as often thereby saving you money.<br />
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Unless you haven't looked at an appliance in 20 years you are familiar with Energy Star appliances. They are money saving appliances deemed to be energy efficient by the E.P.A (Environmental Protection Agency). They are easily identified by those familiar blue energy star labels. Choosing to use Energy Star appliances for heating, cooling, refrigeration, cooking and lighting will help to ease the burden on energy resources. You might even consider a tank-less water heater which uses less energy as you don't have to keep a large tank of water hot for use. Remember that these green tips are not only useful in building new homes but also are things to keep in mind when remodeling any room in your house. The benefits are saving valuable natural resources and keeping more money in your pocket. Sounds like a win-win situation.</div>
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<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com01945 North Elston Avenue, Chicago, IL 60642, USA41.9169215 -87.66672719999996841.916875 -87.666806199999968 41.916968000000004 -87.666648199999969tag:blogger.com,1999:blog-5857136361569917799.post-21365376107380812492013-05-15T13:05:00.002-05:002013-05-15T23:44:27.805-05:00Neena Vlamis Talks Homebuying and Credit with Bill Moller on WGN News Radio<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><span style="line-height: normal;"><span style="line-height: 22px;"><span style="line-height: normal;"><span style="line-height: 21px;">In order to maintain the absolute best credit score make sure to set your bills on auto pay for the minimum payment. This way when you are out of tow</span></span></span></span>n you won’t miss a payment!</span><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Listen to Bill Moller interview Neena Vlamis on WGN Radio News on homebuying and credit scores right here:</span></div>
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<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.blogger.com/video.g?token=AD6v5dyvgwYmApii7epl7_HnGwclIBNRF-uzGgOBMwANx0Wm5B7IsZakF9tYZPKLMfv0ovB8N8uRUCIXCC1WKRuF' class='b-hbp-video b-uploaded' frameborder='0'></iframe><br />
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<span class="Apple-style-span" style="color: #1f497d;"><a href="https://www.facebook.com/photo.php?fbid=638811139481015&set=a.329149227113876.89921.217693784926088&type=1" target="_blank">Image 1 credit: Bill Moller and WGN News Radio</a></span></div>
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<span class="Apple-style-span" style="color: #1f497d; font-family: Calibri, sans-serif; font-size: 15px; line-height: 21px;">Call Neena at 773-305-LOAN for a pre-approval</span><br />
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<span class="Apple-style-span" style="font-size: xx-small;">THIS IS AN ADVERTISEMENT. This is not a commitment to lend. A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. IL MB.0006638, FL MLD288, IN 11122, IA 2006-0064, MA MC5413, MI FL0012625, WI 19291BA NMLS# 19291 </span></div>
<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com1Tribune Tower, Chicago, IL 60611, USA41.890426 -87.6236741.889686999999995 -87.6249305 41.891165 -87.6224095tag:blogger.com,1999:blog-5857136361569917799.post-22768992621238912292013-05-10T08:07:00.002-05:002013-07-01T16:37:41.346-05:00A and N Mortgage: Thoughts of the Day<div style="background-color: white; color: #444444; font-family: Calibri, sans-serif; font-size: 15px; line-height: 21px; text-align: -webkit-auto;">
<span style="background-color: rgba(255, 255, 255, 0); line-height: 21px;">Can you believe it has been 74 months since the number of total foreclosure filings has been this low?</span></div>
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<a href="http://2.bp.blogspot.com/-8JdRxaIwHHQ/UYzws7zmLmI/AAAAAAAAAHo/vmG80eESXhA/s1600/IMG_2569SM.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="200" src="http://2.bp.blogspot.com/-8JdRxaIwHHQ/UYzws7zmLmI/AAAAAAAAAHo/vmG80eESXhA/s200/IMG_2569SM.jpg" width="133" /></a><span style="background-color: rgba(255, 255, 255, 0); line-height: 21px;"><br style="line-height: 21px;" /></span></div>
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<span style="line-height: 21px;">My prediction is that the inventory is going to stay low, you will see developers come back into the business, the banks will not be as foolish this time loaning money out to developers hand over fist as you saw in 2005. </span></div>
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<span style="line-height: 21px;"><a href="http://www.facebook.com/aandnmortgage" target="_blank">A and N friends</a> like to know, w</span><span style="font-size: 15px; line-height: 21px;">hy do people use Neena Vlamis over a bank?</span></div>
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<span style="line-height: 21px;">Borrower "I am calling a bank for a quote as well"</span></div>
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<span style="line-height: 21px;">Neena "once you call a large bank you will realize that they promoted a teller, who doesn't need a license to originate mortgages... Really? .. To deal with your biggest asset! I am a licensed mortgage professional who only does mortgages, I don't open checking accounts, I do two things, mortgages and diapers and I do them well! When someone is doing too many things they are a jack of all trades and master of none. Now some advise on properties that sell the quickest: declutter your home and get it staged, I can give you a staging expert and a realtors number and let's put your team of professionals together and get you into a new home that meets your goals to match the growth of your family!"</span></div>
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<span style="line-height: 21px;">Borrower "okay you had me at mortgages and diapers!"</span></div>
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<span style="line-height: 21px;">Make it a great day!!! </span></div>
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<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com0tag:blogger.com,1999:blog-5857136361569917799.post-85930023455350535342013-03-15T16:59:00.002-05:002013-03-15T16:59:45.621-05:00A and N Kids Club - Talk About Money with Your Kids<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><br /></span>
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Is it okay to share the household bills with your children? </span></h2>
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><span style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline !important; float: none; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"> My parents started to show the household bills to me at 10 years old. It all started because I couldn't understand why my friend had more shoes and clothes than I did. Because my parents sat me down showed me their income and what money was paid out each month I sure did have an awakening! I understood how much the electric bill was And consequently I started to shut off the lights every time I left my bedroom, I became cognizant of how much water I was using, I understood that my parents didn't have credit card debt and that my friends parents could have with the amount of shoes and clothes my friend had!</span></span><br />
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><br style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;" /></span>
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><span style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline !important; float: none; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">When your child receives money for the holidays and their birthdays, is it okay to save the money in the children's college fund instead of letting them spend it on frivolous items?</span></span><br />
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><br style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;" /></span>
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><span style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline !important; float: none; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Yes your children will appreciate that you saved their money for them once college time comes around! They will be grateful that you cared enough to be strict with them and actually saved the money. I remember my friend in college had $15,000 because her parents took all of her money and put it in her savings a account and I felt so envious, she actually bought a used car with it!</span></span><br />
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><br style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;" /></span>
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><b><span style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline !important; float: none; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Should I give my child an allowance?</span></b></span><br />
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><br style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;" /></span>
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><span style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline !important; float: none; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Yes if they earn it by cleaning up after dinner, doing dishes, cleaning their rooms. Only give them money if they earned it and give them less money if they didn't do their assigned chore well.</span><span class="ecxApple-converted-space" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"> </span></span><br />
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><br style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;" /></span>
<span style="font-family: "Helvetica Neue",Arial,Helvetica,sans-serif;"><span style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline !important; float: none; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Teach your children the value of money so they don't have a sense of entitlement.</span></span><span class="ecxApple-converted-space" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font-family: Verdana, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 18px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"> </span><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com2tag:blogger.com,1999:blog-5857136361569917799.post-46227374685246763752012-10-30T08:30:00.000-05:002012-10-30T08:30:00.984-05:00Holidays May Be Prime Investment Time<table border="0" cellpadding="0" cellspacing="0" id="content_LETTER.BLOCK5" style="width: 100%px;"><tbody>
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<span style="font-size: 10pt;">W</span><span style="font-size: 10pt;">ith holidays on the brain, many individuals don't realize that this lull in home sales during holiday season is extremely beneficial for buyers. There not only is less competition for those attractive homes, but the many sellers are motivated, willing and ready to make a deal. </span><br />
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<span style="font-size: 10pt;"><b>The Slower Market</b></span></div>
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<span style="font-size: 10pt;"><br /></span></div>
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<span style="font-size: 10pt;"> This slow market enables buyers to shop a multitude of listings. Those nasty bidding wars with other buyers, which often times drives up the cost of the home, are less likely to occur.</span></div>
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<span style="font-size: 10pt;"><b>Many Motivated Sellers</b></span></div>
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<span style="font-size: 10pt;"><b><br /></b></span></div>
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<span style="font-size: 10pt;"> With holiday expenses and unemployment rates rising, sellers are more than willing to negotiate their selling price, especially if the home has been on the market for several months.</span></div>
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<span style="font-size: 10pt;"><b>Enticing Tax Breaks for Buyers</b></span></div>
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<span style="font-size: 10pt;"><b><br /></b></span></div>
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<span style="font-size: 10pt;"> Closing on or before December 31st could mean a sizable tax write off when you deduct the interest of your first mortgage payment from your stated income.</span></div>
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<strong><em><span style="font-size: 16pt;"><span style="color: #073763;">Call or email today for a complimentary quote!</span></span></em></strong></div>
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<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com0tag:blogger.com,1999:blog-5857136361569917799.post-64312568852061694802012-07-22T18:04:00.004-05:002012-07-22T18:06:31.477-05:00Cost Effective Ways to Increase the Value of Your Home<br />
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<a href="http://2.bp.blogspot.com/-vg-cl32dkzw/UAyGsLZSmUI/AAAAAAAAADI/f9T2RUPLHFo/s1600/tn.jpeg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" border="0" height="130" src="http://2.bp.blogspot.com/-vg-cl32dkzw/UAyGsLZSmUI/AAAAAAAAADI/f9T2RUPLHFo/s200/tn.jpeg" title="A and N Mortgage Tips" width="200" /></a></div>
<span style="font-size: 10pt;"><b>Make the most of your hard earned dollars</b> and focus your remodeling efforts on renovations that will boost the home's value </span><span style="font-size: 10pt;">and your bottom line. </span><br />
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<span style="font-size: 10pt;"><br /><span style="color: #0b5394;"><b>Condition</b></span></span></div>
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<span style="font-size: 10pt;">Buyers will often bargain down your asking price if your home isn't in tip-top shape. Before performing aesthetic upgrades, be sure to tend to your home's basic maintenance projects. A smart and inexpensive way to ensure your home holds its value is to hire a home inspector. </span></div>
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<span style="color: #073763;"><b><span style="font-size: 10pt;">Cosmetics</span></b></span></div>
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<span style="font-size: 10pt;">Spend time evaluating the areas that have the biggest buyer impact, like the kitchen and bathrooms. On average, a kitchen and/or bathroom remodel will yield a return on investment of eighty percent or more. Consider updating your home's look with the following quick and inexpensive projects: Paint, Energy Efficient Appliances, or New Fixtures.<br />A free and easy way to spruce up your surroundings is to get rid of clutter. </span></div>
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<div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com2tag:blogger.com,1999:blog-5857136361569917799.post-79368141585750751742012-06-27T10:24:00.000-05:002012-06-27T10:26:30.336-05:00Borrowing Against Your Home May have its Benefits<div style="color: white;">
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<span style="color: black; font-size: 11pt;">Did
you know there are two types of home equity loans: fixed rate and lines
of credit. Both loan types are offered with loan terms that generally
range anywhere from 5 to 15 years and require the borrower to repay the
loan in full if the home against which they are borrowed is sold.</span><br />
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<span style="color: black; font-size: 11pt;">Though
there are borrowing and term similarities, each loan has its
differences. A home equity loan (also known as a second mortgage) is a
fixed amount that you borrow to be paid off over a certain number of
months, while the home equity line of credit (HELOC) is a variable rate.
Much like a credit card, a HELOC pre-approves you, the borrower, for a
certain spending limit of which you may withdraw.</span></div>
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<b><i><span style="color: #aad8f0; font-size: 16pt;"></span></i></b><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com01945 N Elston Ave, Chicago, IL 60642, USA41.9169156 -87.666741241.9154386 -87.6692087 41.918392600000004 -87.66427370000001tag:blogger.com,1999:blog-5857136361569917799.post-573489970404345752012-06-05T09:23:00.001-05:002012-06-05T09:25:52.115-05:00Cook County Tax Bill Update<table bgcolor="#FFFFFF" border="0" cellpadding="0" cellspacing="0"><tbody>
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<b>Cook County Tax Bill Update</b></div>
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<span style="font-size: 9pt;"><b>Cook County property tax bills coming in July</b></span></div>
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<span style="font-size: 9pt;">For
the first time in decades the second installment of Cook County
property taxes are to hit homeowner's mailboxes in July. Meaning,
payment will be due August 1st compared to November 1st.</span><br />
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<a href="http://articles.chicagotribune.com/2012-06-03/news/ct-met-cook-county-tax-bills-20120603_1_property-tax-bills-treasurer-maria-pappas-assessor-joe-berrios?utm_source=A+and+N+Cook+County+Tax+2012&utm_campaign=A%26N+Cook+County+Tax+Changes++2012&utm_medium=socialshare" rel="nofollow" shape="rect" style="color: black; font-size: 9pt; font-weight: bold; text-decoration: underline;" target="_blank">CLICK HERE FOR FULL TRIBUNE ARTICLE</a></div>
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<tr><td align="left" colspan="1" rowspan="1" style="color: black; font-family: Tahoma,Arial,Helvetica,sans-serif; font-size: 10pt; text-align: left;"><span style="font-size: 9pt;"><span style="color: red;"><b>Property Taxes: Homeowner's FAQ</b></span> </span><span style="font-size: 9pt;"><span style="text-decoration: underline;"><b><br />Who pays this?</b></span>
The tax bill is either paid by your lender or if you do not escrow you
must send in the payment direct to the Cook County Treasurer's Office
or you can check on their website which local banks accept payments. </span> <span style="font-size: 9pt;"><span style="text-decoration: underline;"><b>How to check?</b></span>
Cook County has set up a website where you can check online if your
tax bill has been paid and if you are receiving your homeowner
exemption. You can also confirm your mailing address and ensure the
correct name is on your tax bill. </span><span style="font-size: 9pt; text-decoration: underline;"><b>Where to check?</b></span><a href="http://www.blogger.com/blogger.g?blogID=5857136361569917799" shape="rect" style="font-size: 9pt;"> </a><a href="http://www.cookcountytreasurer.com/?utm_source=A+and+N+Cook+County+Tax+2012&utm_campaign=A%26N+Cook+County+Tax+Changes++2012&utm_medium=socialshare" rel="nofollow" shape="rect" style="color: black; font-size: 9pt; font-weight: bold; text-decoration: underline;" target="_blank">www.cookcountytreasurer.com</a> <span style="font-size: 9pt;">The
top right hand corner has a section to click for "payments," you can
check the status of your payment and also make sure you have your home
owner's exemption. You will be required to give your PIN # which is on
your tax bill.
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<span style="text-decoration: underline;"><b>What if I'm missing info?</b></span> <span style="font-size: 9pt;">If you do not have the information you need please feel free to contact <br />your A and N Mortgage Consultant at any time.</span></span><span style="font-size: 9pt;"><b> 773.305.LOAN (5626)</b> or </span><a href="http://www.aandnmortgage.com/?utm_source=A+and+N+Cook+County+Tax+2012&utm_campaign=A%26N+Cook+County+Tax+Changes++2012&utm_medium=socialshare" rel="nofollow" shape="rect" style="color: black; font-size: 9pt; font-weight: bold; text-decoration: underline;" target="_blank">www.AandNmortgage.com</a></td></tr>
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</tbody></table><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com0tag:blogger.com,1999:blog-5857136361569917799.post-76184540684826066042012-04-18T10:28:00.000-05:002012-04-18T10:28:50.331-05:00A and N Tips: Rock That Tax Return!<div style="color: white;"><b><span style="color: #073763; font-size: 18pt;">Smart Ways to Spend Your Tax Refund</span></b></div><span style="font-size: 12pt;">Consider using your tax return to maximize your </span><span style="font-size: 12pt;">future financial situation</span><br />
<br style="color: purple;" /><div><b><span style="color: purple; font-size: 11pt;">Refi to a Lower Rate</span></b></div><div><span style="font-size: 11pt;">By refinancing to a fixed and/or lower interest rate, you can improve your mortgage savings and your financial situation for years to come.</span></div><b><br />
</b><div><b><span style="color: purple; font-size: 11pt;">Spruce Up Your Space</span></b></div><div><span style="font-size: 11pt;">Is your kitchen or bathroom looking a little dingy? If so, consider a renovation. Home renovating and remodeling can drastically improve the value of your home.</span></div><br />
<div><b><span style="color: purple; font-size: 11pt;">Upgrade Your Home</span></b></div><div><span style="font-size: 11pt;">Whether you are planning to grow your family, acquire the perfect vacation home or move to a smaller, more manageable property, your tax refund can play a large part in covering the closing costs and other fees associated with this new purchase.</span></div><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com0tag:blogger.com,1999:blog-5857136361569917799.post-79214964006098031612012-02-13T16:22:00.000-06:002012-02-13T16:22:00.593-06:00Does a Property Need to have Appliances?<div class="MsoPlainText"><span style="font-family: 'Trebuchet MS', sans-serif;"><br />
</span></div><table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://1.bp.blogspot.com/-VWMEVAvugZI/TzmMmr4vFBI/AAAAAAAAAC0/t2Svw_np_hg/s1600/Appliances.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="132" src="http://1.bp.blogspot.com/-VWMEVAvugZI/TzmMmr4vFBI/AAAAAAAAAC0/t2Svw_np_hg/s200/Appliances.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="background-color: white; color: #333333; font-family: Arial, Helvetica, sans-serif; line-height: 20px; text-align: -webkit-auto;">Credit: Michelle Meiklejohn</span></td></tr>
</tbody></table><div class="MsoPlainText"><span style="font-family: 'Trebuchet MS', sans-serif;">Habitable Condition: </span><span style="font-family: 'Trebuchet MS', sans-serif;">Property must be in a condition that is immediately habitable and must contain:</span></div><div class="MsoPlainText"><br />
</div><div class="MsoPlainText"><span style="font-family: 'Trebuchet MS', sans-serif;">• At least one fully functional bathroom (i.e., shower/tub, toilet, and hand sink). <o:p></o:p></span></div><div class="MsoPlainText"><br />
</div><div class="MsoPlainText"><span style="font-family: 'Trebuchet MS', sans-serif;">• Other bathroom(s), if not functional, must be escrowed for repair.<o:p></o:p></span></div><div class="MsoPlainText"> <span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div><div class="MsoPlainText"><br />
</div><div class="MsoPlainText"><span style="font-family: 'Trebuchet MS', sans-serif;">• A fully functional kitchen with appropriate appliances (i.e., sink, cabinets, utilities to support a stove and refrigerator). <o:p></o:p></span></div><div class="MsoPlainText"><br />
</div><div class="MsoPlainText"><span style="font-family: 'Trebuchet MS', sans-serif;">• Stove and refrigerator do not need to be present if they are not a built-in, as non-built in appliances are considered personal property. Comparables without appliances are not required. <o:p></o:p></span></div><div class="MsoPlainText"><br />
</div><div class="MsoPlainText"><span style="font-family: 'Trebuchet MS', sans-serif;">• If stove and oven are built-in, they must be functional, or the space must be reconfigured to allow for appliance.<o:p></o:p></span></div><div class="MsoPlainText"><span style="font-family: 'Trebuchet MS', sans-serif;"> <o:p></o:p></span></div><div class="MsoPlainText"><span style="font-family: 'Trebuchet MS', sans-serif;">• Utilities (gas and/or electricity) and plumbing must be functional. If not available for testing, due to "winterization"</span></div><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com2tag:blogger.com,1999:blog-5857136361569917799.post-91976316508549827242011-12-29T11:41:00.000-06:002011-12-29T11:41:25.538-06:00New Amendment: Illinois Landlord & Tenant Act<img alt="intheloanlooplogo1" border="0" height="82" name="ACCOUNT.IMAGE.412" src="http://ih.constantcontact.com/fs041/1101942235862/img/412.jpg" vspace="5" width="400" /><br />
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<tr><td align="center" colspan="1" rowspan="1" style="color: #333333; font-family: Arial,Helvetica,sans-serif; font-size: 12pt; text-align: center;"> <div align="left" bgcolor="#7B97C1" style="background-color: #7b97c1; color: white; font-family: Century Gothic,ITC Avant Garde,Arial,Helvetica,sans-serif; font-size: 18pt; text-align: left;"><span style="font-size: 12pt;"><b> Effective January 1, 2012 </b></span></div><div align="left" style="font-family: Century Gothic,ITC Avant Garde,Arial,Helvetica,sans-serif; font-size: 10pt; text-align: left;"><strong><em>For A and N Realtors, Investors, and Landlords:<br />
</em> </strong>An amendment has recently passed to the Illinois Landlord and Tenant Act which creates a new Section 765 ILCS705/15<strong> "Changing or rekeying of the dwelling unit lock." </strong>This New law requires most Cook County Landlords to change locks with every new tenant.<br />
<br />
If the landlord does not comply with this new rule, which will take effect January 1, 2012, then that landlord may be liable to the tenant for damages sustained because of stolen property by someone with the old tenants' key.<strong><br />
<br />
<a href="http://library.constantcontact.com/download/get/file/1101942235862-441/keys.pdf" target="_blank">MORE INFO HERE</a></strong></div></td></tr>
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</tbody></table><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com0tag:blogger.com,1999:blog-5857136361569917799.post-74929449081152850912011-12-14T10:27:00.003-06:002011-12-14T10:31:01.682-06:00A and N's Home Buyer Tips: Rate Shopping<a href="http://www.aandnmortgage.com/" target="_blank"><img alt="intheloanlooplogo1" border="0" height="66" name="ACCOUNT.IMAGE.412" src="http://ih.constantcontact.com/fs041/1101942235862/img/412.jpg" vspace="5" width="320" /></a><br />
<br />
<div align="left" bgcolor="#7B97C1" style="background-color: #7b97c1; color: white; font-family: Century Gothic,ITC Avant Garde,Arial,Helvetica,sans-serif; font-size: 18pt; text-align: left;"><span style="font-size: 12pt;"><b>Tips for Serious Mortgage Shoppers</b></span><br />
<span style="font-size: 12pt;"><b><br />
</b></span></div><div align="left" style="text-align: left;"><ul style="font-family: 'Century Gothic', 'ITC Avant Garde', Arial, Helvetica, sans-serif; font-size: 10pt;"><li style="font-size: 9pt;"><strong>Get Educated</strong> Borrowers should know terminology and mortgage basics before they shop. </li>
</ul><ul style="font-family: 'Century Gothic', 'ITC Avant Garde', Arial, Helvetica, sans-serif; font-size: 10pt;"><li style="font-size: 9pt;"><strong>Know Your Credit Score</strong> Addressing any issues on your credit report prior to applying for a loan will allow you to take advantage of more desirable mortgage rates and products.</li>
</ul><ul style="font-family: 'Century Gothic', 'ITC Avant Garde', Arial, Helvetica, sans-serif; font-size: 10pt;"><li style="font-size: 9pt;"><strong>Shop Your Product Options</strong> Though conventional loans are typically the most desirable, an mortgage insured by the Federal Housing Administration (FHA) may be more feasible.</li>
</ul><ul style="font-family: 'Century Gothic', 'ITC Avant Garde', Arial, Helvetica, sans-serif; font-size: 10pt;"><li style="font-size: 9pt;"><strong>Know The Market Trends</strong> Mortgage rates adjust daily. If you find a low rate on a <a href="http://www.aandnmortgage.com/" target="_blank">loan you like</a>, consider getting a rate lock. </li>
</ul></div><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com1tag:blogger.com,1999:blog-5857136361569917799.post-24603954100950884172011-10-31T10:27:00.001-05:002011-10-31T10:27:00.831-05:00I have been receiving a lot of questions about FHA Mortgage Insurance Premium, Here are Some Answers<h6 class="uiStreamMessage" data-ft="{"type":1}"><span class="messageBody translationEligibleUserMessage" data-ft="{"type":3}"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small; font-weight: normal;">FHA mortgage insurance is similar to the private mortgage insurance (PMI) required for conventional mortgages with down payments below 20%, but key differences exist:<br />
</span></span></h6><h6 class="uiStreamMessage" data-ft="{"type":1}"><span class="messageBody translationEligibleUserMessage" data-ft="{"type":3}"><span class="Apple-style-span" style="color: #0b5394; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small;">Up-front Fees:</span><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small; font-weight: normal;"> 1% up-front fee due at closing.</span></span></h6><h6 class="uiStreamMessage" data-ft="{"type":1}"><span class="messageBody translationEligibleUserMessage" data-ft="{"type":3}"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small;"><span class="Apple-style-span" style="color: #0b5394;"> Rate:</span></span><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small; font-weight: normal;"> For fixed rate loans, there is an annual premium of 1.1% to 1.15% of the loan amount per year, divided over 12 months. Variable term MIP rates are 0.25% to .50% per month for 15 year or shorter-term loans.</span></span></h6><h6 class="uiStreamMessage" data-ft="{"type":1}"><span class="messageBody translationEligibleUserMessage" data-ft="{"type":3}"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small;"><span class="Apple-style-span" style="color: #0b5394;"> Removal:</span></span><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small; font-weight: normal;"> FHA MIP is mandatory for the first five years of loans with terms more than 15 years (even if your loan balance reaches 78% of the original home value or sales price. PMI premiums can often be removed if the loan balance is below 80% of current market value. Conventional loans automatically remove PMI when the loan balance falls below 78% of the loan amount.</span></span></h6><h6 class="uiStreamMessage" data-ft="{"type":1}"><span class="messageBody translationEligibleUserMessage" data-ft="{"type":3}"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small;"><span class="Apple-style-span" style="color: #0b5394;"> Exceptions:</span></span><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small; font-weight: normal;"> If you have a loan term of 15 years or less and put down 10% or more of the sales price, the MIP will be cancelled after the loan balance falls to 78% (of the original sales price, or the original appraised value, whichever is less). 20% down on a 15-year loan cancels PMI altogether.<br />
How the MIP Affects Your Loan Decision? Considering that PMI payments do not go towards the principle, or add to the value of the home, most borrowers would choose to avoid paying PMI altogether.</span></span></h6><h6 class="uiStreamMessage" data-ft="{"type":1}"><span class="messageBody translationEligibleUserMessage" data-ft="{"type":3}"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small; font-weight: normal;"> However, It's hard to avoid paying PMI without putting 20% down. </span><span class="Apple-style-span" style="color: red; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small;">IF</span><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: small; font-weight: normal;"> you have good credit history, and the money to put 20% down, then a conventional mortgage is probably better for you as PMI would automatically be lifted. However, if the down payment is a family loan or a gift, you may not qualify for a conventional loan even with 20% down. In that case, an FHA loan with MIP may be your only option, if you cannot afford the higher payments of a conventional 15-year mortgage.<br />
<br />
Call A and N Mortgage 773-305-5626 for any more questions!</span></span></h6><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com0tag:blogger.com,1999:blog-5857136361569917799.post-38911592600362342082011-10-28T10:23:00.002-05:002011-10-28T10:23:00.157-05:00The Importance of Customer Service and Referrals in the Mortgage Business<div style="text-align: center;"><b><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Sr. Mortgage Consultant Mike McNamara</span></b></div><br />
<div class="separator" style="clear: both; text-align: center;"><iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.youtube.com/embed/EqbMxZIZxlw?feature=player_embedded' frameborder='0'></iframe></div><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com0tag:blogger.com,1999:blog-5857136361569917799.post-55745275767801338562011-10-27T09:04:00.000-05:002011-10-27T09:04:04.149-05:00FHA -- Fewer Home Approvals<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">The Federal Housing Administration suffered a 27% drop in market share from fiscal 2010 numbers. Department of Housing and Urban Development numbers show that while FHA refinance volume has increased by 9% since August, the 12% drag on purchase production has hurt the overall numbers in September vs. August. Coupled with this drop in monthly productivity has been a 30 basis point (or 0.3%) increase in delinquency in comparison to August numbers. </span><br />
<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><br />
</span><br />
<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">A statistically significant number for the Chicago market specifically is the 13% drop in condominium closings, not surprising, as condominiums have been consistently falling out of favor due to the elimination of spot-approvals, and increased strictness of conditions that have been enforced since the housing bubble burst.<br />
And while FHA loan turn-times remained at a steady 5.9 weeks average from application to closing, it is an overall improvement from the 6.8 week average turn times at this time last year.</span><br />
<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><br />
What this data shows is that while FHA loans are a solid product, the market for them has been deteriorating, with the expectation that this deterioration will continue for the forseeable future.</span><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com0tag:blogger.com,1999:blog-5857136361569917799.post-33001093924770499372011-10-17T08:00:00.001-05:002011-10-17T08:00:08.210-05:00The FHA Mortgage Insurance Premium<div class="MsoNormal">FHA mortgage insurance is similar to the private mortgage insurance (PMI) required for conventional mortgages with down payments below 20%, but key differences exist:<o:p></o:p></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Up-front Fees</b>: 1% up-front fee due at closing.<o:p></o:p></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Rate</b>: <i>For fixed rate loans</i>, there is an annual premium of 1.1% to 1.15% of the loan amount per year, divided over 12 months. <i>Variable term MIP rates </i>are 0.25% to .50% per month for 15 year or shorter-term loans.<o:p></o:p></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Removal: </b>FHA MIP is mandatory for the first five years of loans with terms more than 15 years (even if your loan balance reaches 78% of the original home value or sales price. <i>PMI premiums can often be removed if the loan balance is below 80% of current market value. </i>Conventional loans automatically remove PMI when the loan balance falls below 78% of the loan amount.<o:p></o:p></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Exceptions: </b>If you have a loan term of 15 years or less <b>and</b> put down 10% or more of the sales price, the MIP will be cancelled after the loan balance falls to 78% (of the original sales price, or the original appraised value, whichever is less). <b>20% down on a 15-year loan cancels PMI altogether</b>.<o:p></o:p></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>How the MIP Affects Your Loan Decision? </b>Considering that PMI payments do not go towards the principle, or add to the value of the home, most borrowers would choose to avoid paying PMI altogether.<o:p></o:p></div><div class="MsoNormal"> However, It's hard to avoid paying PMI without putting 20% down. IF you have good credit history, and the money to put 20% down, then a conventional mortgage is probably better for you as PMI would automatically be lifted. However, if the down payment is a family loan or a gift, you may not qualify for a conventional loan even with 20% down. In that case, an FHA loan with MIP may be your only option, if you cannot afford the higher payments of a conventional 15-year mortgage.<o:p></o:p></div><div class="MsoNormal"><br />
</div><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com0tag:blogger.com,1999:blog-5857136361569917799.post-31326486645616278492011-10-12T15:06:00.000-05:002011-10-12T15:06:35.691-05:00A and N's Home Buyer Tips: Get the Best Refi Rates<div class="separator" style="clear: both; text-align: center;"></div><div style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="AandNTIPS1WEBL" border="2" height="200" name="ACCOUNT.IMAGE.423" src="http://ih.constantcontact.com/fs041/1101942235862/img/423.jpg?a=1107546944316" width="120" /></div><ul style="background-color: white; color: #333333; font-family: 'Century Gothic', 'ITC Avant Garde', Arial, Helvetica, sans-serif; font-size: 13px; text-align: left;"><li style="font-size: 8pt; text-align: justify;"><strong>Improve Credit</strong> - If you're a homeowner with great credit and plenty of equity, odds are those lower rates are within your reach. But if your score is less than desirable, work at improving it by paying all of your bills on time, paying down your credit card debt, keeping your credit lines open and increasing your credit limits. </li>
</ul><ul style="background-color: white; color: #333333; font-family: 'Century Gothic', 'ITC Avant Garde', Arial, Helvetica, sans-serif; font-size: 13px; text-align: left;"><li style="font-size: 8pt; text-align: justify;"><strong>Loan-to-Value Factor</strong> - To calculate your loan-to-value ratio, divide the amount you want to borrow by the current value of your home. If your LTV ratio exceeds 80 percent, you may have trouble qualifying for a refi.</li>
</ul><ul style="background-color: white; color: #333333; font-family: 'Century Gothic', 'ITC Avant Garde', Arial, Helvetica, sans-serif; font-size: 13px; text-align: left;"><li style="font-size: 8pt; text-align: justify;"><strong>Short Term = Savings</strong> - Paying your loan off in a shorter period of time is not only a surefire way to save money over the life of your loan, but it is also a way to obtain an attractive rate on your mortgage.</li>
</ul><ul style="background-color: white; color: #333333; font-family: 'Century Gothic', 'ITC Avant Garde', Arial, Helvetica, sans-serif; font-size: 13px; text-align: left;"><li style="font-size: 8pt; text-align: justify;"><strong>Opt to Pay Points</strong> - Buy down your loan's interest by paying points. A point is equal to 1 percent of your loan amount. Those buyers who opt to pay more points when refinancing are often able to acquire lower interest rates on their loan. This could mean significant savings over the life of the mortgage. </li>
</ul><div class="blogger-post-footer">A and N Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee and Equal Housing Lender. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) www.anmtg.com NMLS # 19291 IL MB.0006638. Serving: IL, IA, IN, FL, MI, MN, TX, WI</div>A & N Mortgagehttp://www.blogger.com/profile/17188920952627415037noreply@blogger.com0