Normal pep talk about real estate starts with the greatness of the provider. Let’s skip this part and go to the basics.
The real estate agent receiving a loan approval letter receives info about the maximum amount financed. Very few reach out to the loan officer to learn the really important details:
1) Monthly amount allowed, 2) the financing rate and 3) the down payment amount.
The three numbers are the guide, allowing us to find the best property.
With a wide and rather wild range of taxes and monthly assessments, a seemingly cheaper property may require a higher monthly payment than another, seemingly more expensive. The loan office, determining his general number, assumes a certain amount for taxes and assessments. The reality does not always match the assumptions.
With lower taxes, you can sometimes purchase more expensive property than stated in the approval letter. And believe me. In real estate, the frequent question is: What can I purchase with my funds? And there is always a need for more.
Jack Tuszynski (773) 625-1121 office) Home Town Real Estate 7700 W Belmont, Chicago, IL 60634
Ps I do not publish my cell phone number here since the results is 5-20 robocall per day
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