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Profile picture for danimal4326

Looking for mortgage options in Chicago area

Hi,

The details:
- Married professional couple both with excellent credit (>770)
- Looking into purchase home in chicago for around 800k
- 10% down (80k)

Looking for options on a jumbo mortgage.  80-10-10 or 90-10 w/ pmi?

Is there anything like this available in IL?

Thanks
  • May 02 2013 - Lake View
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Answers (10)

Profile picture for shapiroamg
  • May 02 2013
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Absolutely, those scenarios exist. You can contact me via my profile if you would like to discuss. I am an IL licensed lender.
  • May 02 2013
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You will be very popular. My web site has some lender references. Giv ethem a call.
  • May 02 2013
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Yes, your best solution, is likely a $417K first mortgage with a second for the difference up to $720K between the two liens.

You will get the most qualifying options combined with affordability.

Hope this helps.

D$
  • May 02 2013
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Profile picture for Matt Laricy
Speak with a lender. They will be able to go over all your options.
  • May 02 2013
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Could you put 15% down, 10% could be possible with an exception.
  • May 03 2013
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Lots of options as you now know.  Consider a no closing cost option.  Let me know f I can help
  • May 07 2013
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Reach out to a mortgage lender they will have this info for you.
  • May 16 2013
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You should have some options.  15% down gets you better pricing.  I would also consider a no closing cost option. 
  • May 28 2013
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Reach out to a lender they will be able to really answer this question for you and point you in the right direction.
  • June 03 2013
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