Cary and Fox River Grove real estate and homes for sale in Illinois, Residential Real Estate - Bill and Luanne Hauck, REALTORS® Bill  and Luanne Hauck REALTORS(r) for Cary and Fox River Grove, Illinois real estate, Residential Real Estate - NUMBER1EXPERTS™ Bill  and Luanne Hauck NUMBER1EXPERTS(tm) for Cary and Fox River Grove, Illinois real estate, Residential Real Estate
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Mortgage Prequalification: Cary and Fox River Grove Illinois home buying, real estate listings, and homes for sale in McHenry                        County, IL
Welcome > For Buyers > Mortgage Prequalification ...


Don't Go Shopping for a New Home Before You Know Exactly How Much You Can Spend!
 

You might have an idea of the loan payment and mortgage you can afford. But will the bank feel otherwise? It's always best to pre-qualify for a mortgage so you know exactly how much a financial institution would be willing to lend you. 

In the pre-qualification process, you will find out: 

- Exactly how much home or land you can afford. 

- How much cash you will need for the down payment. 

- The minimum down payment, and advantages of higher down payments. 

- What the bank feels you can afford for a monthly payment. 

We help buyers pre-qualify for mortgages every day. Simply fill out the form below to get started. 

Remember: we will respect your privacy! We know this is your personal information, and we will not distribute it to anyone, other than to our preferred mortgage broker. This service is also provided free of charge, without any obligation on your part. It is part of our job as top Realtors to offer services such as these. 

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Real Estate Tips
About Appraisals >Three Caballeros

When you buy a house or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser will look for "three caballeros" or three "comparables" -- homes that are very similar to the one you are buying -- and will make adjustments to reflect the differences between the properties.

Housing patterns tend to be homogenous, meaning that homes worth $300,000 are usually located in $300,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price.

This is not the only factor considered in determining the worth of a property, but it is an important one. The buyer or seller may view the property as a home or an investment, but lenders view it in a completely different way. To a lender, property means security in the event a borrower fails to repay a mortgage. Therefore, lenders must know real estate values in order to limit their risks.

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Real Estate Trivia
Q 
What is considered one of the few remaining tax shelters in the 1990s?

A 
Homeownership--property taxes on a residence or vacation home are deductible up to $1 million.
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Bill  and Luanne Hauck, REALTORŪ, real estate agents and broker for Cary and Fox River Grove Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

Bill and Luanne Hauck
ReMax of Barrington

306 West Northwest Hwy
Barrington, IL
Il 60010
Office Direct: 847-624-3272
Office Main: 847-624-3272
Bills Cell Phone: 847-624-3272
BillandLuanne@NUMBER1EXPERT.com
Bills Email: hauck@mc.net
Luannes Email: luanne@PreLovedHomes.com

"Let The Haucks Find You A New Nest" Welcome to our web site. We are Bill (agent)and Luanne (assistant) Hauck of RE/MAX of Barrington. We are the #1 Husband and Wife team at RE/MAX of Barrington, McHenry Counties largest selling real estate company. We go the extra mile to help you achieve your goals. That's why we constantly research the market and property values so your home is priced effectively from day one to coincide with our marketing plan getting you the most return on your investment. We also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers. Call or email us today!

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