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How to Buy a 2–4 Unit Property in Chicago (2026 Guide)
Buying a 2–to 4-unit property in Chicago is one of the fastest ways to reduce your housing costs and build wealth.
Mortgage Gift Letter: How to Use Gift Funds for a Down Payment
Mortgage Gift Letter: Quick Answer A mortgage gift letter is a signed document confirming that the funds given to a homebuyer are a true gift and not a loan.
Mortgage Discount Points: Break-Even Calculator & Example
Mortgage discount points are upfront fees borrowers pay to lower their mortgage interest rate. One discount point equals 1% of the loan amount. In exchange, the lender reduces the..
VA Seller Credits and Concessions: How Veterans Reduce Closing Costs
VA seller credits and concessions allow veterans to reduce or eliminate many out-of-pocket costs when buying a home. On a VA loan, the seller can pay 100% of the buyer’s allowable..
Debt-to-Income Ratio for a Mortgage: DTI Limits & Calculator
Your debt-to-income ratio (DTI) is the percentage of your monthly income that goes toward debt payments. Mortgage lenders calculate this ratio to determine how much home you can..
Mortgage Co-Signer: How to Qualify for a Home Loan
A mortgage co-signer is a person who helps another borrower qualify for a home loan by sharing financial responsibility for the mortgage. The co-signer applies for the loan but..
Mortgage Rate Lock: When to Lock Your Rate (And When to Wait)
Mortgage interest rates can change daily. A mortgage rate lock protects you from those changes while your loan moves toward closing. When you lock your rate, the lender guarantees..
What to expect at closing: Step-by-step for Chicago homebuyers
Closing day is the final step in the homebuying process. It is the moment when ownership officially transfers from the seller to you.
Verified Mortgage Pre-Approval: How It Helps You Win a Home
A verified mortgage pre-approval can help you win a home in a competitive market. Many Chicago buyers submit strong offers but still lose the house. The problem is not always the..
Seller Credit: Can the Seller Pay Your Closing Costs?
A seller credit is money the home seller contributes toward the buyer’s closing costs. A seller credit can reduce the cash you need to buy a home. This guide explains how seller..
VA Loan: How to Buy a 2-to-4 Unit Property in Chicago
A VA loan allows veterans to buy a 2- to 4-unit property in Chicago with no down payment. Live in one unit, rent the others, and potentially cover most of the mortgage. Here's how..
Does mortgage pre-approval hurt your credit score?
Worried that a mortgage credit check will hurt your score? Here’s exactly what happens during pre-approval, under contract, and rate shopping, so you can move forward with..
How Much Is the Minimum Down Payment on a House?
You don’t need 20% down to buy a house. Many buyers qualify with 3% to 5% down, depending on the loan program and property type. This guide explains the minimum down payment and..
When should you get pre-approved for a mortgage?
Thinking about buying a home in Chicago this year? The right time to get pre-approved can make the difference between winning and losing your dream home.
Illinois mortgage loan limits for 2026
The 2026 Illinois loan limits for conventional, FHA, and VA mortgages determine how much you can borrow, depending on the type of loan and property you're buying.
How much are closing costs on a VA loan?
Buying a home with a VA loan means you won’t need a down payment. But what about closing costs?
Real Estate Transfer Tax Calculator | Chicago metro area
Real estate transfer taxes are fees that the state, counties, and local municipalities charge buyers and sellers when transferring property ownership. Use our real estate transfer..
Mortgage Insurance | How much is PMI?
The cost of private mortgage insurance (PMI) varies depending on several factors, including the lender. Some lenders charge more than others for the same PMI. In this article,..
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