Chicago Mortgage
and Home Loan Programs
Whether you are buying, selling, or refinancing a home in Chicago, it
is important to have an experienced mortgage professional to help you
analyze your financing options, and make sure the closing goes smoothly.
Ameristar Mortgage has the expertise and experience to get you the right
mortgage and to handle your transaction professionally.
Ameristar Mortgage is a mortgage banker, not a mortgage
broker; this means that we have access to hundreds of lenders’ rates and
programs, and we underwrite and close your mortgage in-house. With our
experience you are sure to get the mortgage that’s right for you.
Please remember to get us involved early in your home-buying process!
Being Pre-Approved sets the expectation for your mortgage qualification
and gives you a strong negotiating position when you find the home of
your dreams.
Chicago Mortgage Programs:
Purchase and Refinance
Ameristar Mortgage, your Chicago Illinois
mortgage broker, offers first time home buyer, cash out
refinance, Chicago jumbo loans, construction, lot loans, no money down,
Chicago refinance, jumbo VA loans, Freddie Mac home possible, 100%
financing, interest only, investment, my community mortgage, Fannie Mae
flex 100, bank statement loans, 2nd mortgage, Chicago FHA loans, VA loans and rural housing
loans.
All Wisconsin
and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including
FHA, VA and
Rural Housing
Wisconsin
Refinance Illinois Refinance Programs
Current
Wisconsin and Illinois Mortgage Rates
About Ameristar Mortgage
Apply or Pre-qualify
Online
Contact Ameristar
Mortgage
Recent Chicago mortgage posts on our blog:
Chicago VA mortgage loans from
Ameristar Mortgage
June 21st, 2008
Because of the funding fee, Chicago VA mortgage loans do not require
monthly mortgage insurance, keeping your monthly
payment lower. The main purpose of the Chicago VA home loan
program is to help veterans finance the purchase
of homes with favorable loan terms and at a rate
of interest which is competitive with the rate charged
on other type of mortgage loans. The more you know about our
Chicago, Illinois
VA mortgage loan programs, the more you will realize
how little "red tape" there really is in getting
a VA mortgage loan. VA mortgage loans are usually
comparable to regular mortgages only you save much
more since they don't require money down. VA mortgage
loans are also assumable or can be "taken over"
by other eligible veterans. When compared to conventional financing, the
Chicago
VA home loan can save you several hundred dollars
a month because it does not require you to pay monthly
mortgage insurance as is common with conventional
loans.
Read the rest of this
entry »
Chicago
FHA Mortgage Loans from
Ameristar Mortgage
May 8th, 2008
Chicago FHA mortgage
loans refinance and purchase, which have been out of favor in recent years,
are especially popular today because they typically
have easier qualification requirements than non-governmental
loans and require only a small down payment or very
little equity.
Chicago FHA mortgage
refinancing allows homeowners with bad credit to
refinance their mortgages with cash out options
and a low fixed rate loan with an affordable monthly
payment.
Chicago FHA loans are currently available
only to homes that fit under the specified mortgage
limits. You may qualify for a Chicago FHA Mortgage that
can help you get into the home of your dreams.
FHA mortgage loan
limits in Chicago have been
increased to
$410,000 for the
remainder of 2008.
If you acquire a FHA
loan to purchase a
home, the FHA is not
actually lending
money to you, the
buyer; the FHA
simply guarantees
the lender in case
you, the borrower,
default on your
mortgage payments.
FHA loans in Chicago are making a
strong comeback as a
useful alternative
for first time home
buyers and home
buyers with less
than perfect credit.
Chicago, Illinois FHA
mortgage loans allow
a buyer to get the
help of a relative
to help them qualify
for their purchase
of a new home,
without that person
living in that new
property.
Chicago FHA
refinance loans are also
becoming
increasingly popular
among home owners
trying to refinance
out of subprime
loans.
Read the rest of
this entry »
Jumbo Loans (Non Conforming) from Ameristar Mortgage
April 30th, 2008
Illinois jumbo
mortgage loans and
Wisconsin jumbo
loans are now being
priced at levels
above any reasonable
expectation of
credit risk: they're
expensive entirely
because of market
risk. They are
defined as those for
more than $417,000,
the level beyond
which Fannie Mae and
Freddie Mac, the
government-affiliated
mortgage banks, will
not lend.
The increased risk
of jumbo mortgages
is firstly due to
the lack of "agency"
support for these
loans, effectively
reducing the
available pool of
investors and
insurers for all
jumbo mortgages by
an order of
magnitude. Mortgages
in excess of 1
million dollars have
an even smaller
secondary market of
investors, and super
jumbo mortgages in
excess of 2 million
dollars frequently
require extensive
"sourcing" of
private investors
prior to funding due
to very minimal
institutional
investor coverage.
Read the rest of this
entry »
First Time Home Buyer
Loans from
Ameristar Mortgage
March 18th, 2008
As Chicago first time home buyers, we recognize the
sacrifices you make in an effort to save enough money to not only make a
down payment on a home, but meet the total amount necessary to actually
close on your desired home loan. For instance, the largest hurdle most
first time home buyers in Chicago face is saving the funds necessary for a down
payment.
Did you know that nearly every state has a program to help
first time home buyers with the down payment.
Read the rest of this
entry » |
