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That’s why Femme Capital Partners is 1 of the TOP RATED Chicago Mortgage Lenders
Conventional Loans
What are the loan requirements ? As a borrower, these are the minimum conventional loan requirements you should be prepared to meet: Interested in the Chicagoland Area then a Credit score of at least 620. Debt-to-income ratio of no more than 45% Minimum down payment of 3%, or 20% with no PMI.
Jumbo Loans
What do underwriters look for?
A majority of Chicago mortgage lenders want to be sure their loans will be repaid even in the event of financial hardship. Three of the primary requirements for jumbo loans in Chicago are a high credit score, low debt-to-income (DTI) ratio and good cash reserves.
VA Mortgage Loans
What are the VA requirements?
At least 90 days of active-duty service including at least 30 consecutive days (your DD214 must show 32 USC sections 316, 502, 503, 504, or 505 activation), or. 6 creditable years in the National Guard and you were discharged honorably or placed on the retired list.
FHA Loans
What is a FHA loan?
FHA home loans are mortgage loans that are insured against default by the Federal Housing Administration. FHA loans are available for single family or multifamily homes. These Chicago home loans allow banks to continuously issue loans without much risk or capital.
Non Qualified Loans
A non-QM is a home loan is: These loans are designed to help home buyers who can't meet the strict mortgage criteria. Example, if your moving to Chicago and are self-employed or don't have all the necessary documentation to qualify for a traditional mortgage, you might need to look at non-qualified mortgages.
Residential Mortgage Loans
Looking to apply for a residential mortgage loan in Chicagoland area? Femme Capital Partners will guide you step by step.
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Commercial Mortgage Loans
Get a commercial real estate loan from Femme Capital Partners. Get estimated monthly payments for buying in Chicago, IL.
Mortage LOan FAQS
From qualification requirements, affordability, and loan types – to rates, escrow, fees, & much more – Femme Capital Partners will answer your most important mortgage FAQs!
The initial Truth in Lending Statement must be delivered to the consumer within 3 business days of the receipt of the loan application by the lender. The TILA statement is presumed to be delivered to the consumer 3 business days after it is mailed.
Because of the Equal Credit Opportunity Act (ECOA), lenders are prohibited from discriminating against you because of your age, marital status, national origin, race, religion, sex, sexual orientation, and if you receieve income from public assistance programs.
- Anything Untruthful.
- What is the most I can borrow?
- Check out my new credit cards!
- Changing jobs annually is my specialty.
- This salary job is not for me, I am going to commission based job.
After the above documents (and possibly a few others) are gathered, an underwriter gets down to business. They evaluate credit and payment history, income and assets available for a down payment and categorize their findings as the Three C’s: Capacity, Credit and Collateral.
When trying to determine whether you have the means to pay off the loan, the underwriter will review your employment, income, debt and assets. They’ll look at your savings, checking, 401k and IRA accounts, tax returns and other records of income, as well as your debt-to-income ratio.
The most obvious Red Flag that you are taking a personal loan from the wrong lender is the High Interest Rate. The rate of interest is the major deciding factor when choosing the lender because personal loans have the highest interest rates compared to other types of loans
Can a Mortgage Be Denied After Preapproval? Yes, it’s possible to have your loan application denied after getting preapproved for a mortgage. It doesn’t seem fair, but the reason this is possible is because your loan has to go through the underwriting process before it’s finalize
Make the Chicagoland area your home
Chicagoland is a financial hub and a thriving, modern city. Make it your ideal home and investment today!
Call (855) 44-Femme
a trusted & experienced mortgage lender
Popular chicagoland Neighbohoods
List includes cities from Cook County, Lake County & Dupage County in Illinois.
- Deerfield, IL 60015
- Downers Grove, IL 60515, 60516
- Elmhurst, IL 60126
- Fort Sheridan, IL 60037
- Glen Ellyn, IL 60137
- Glen Ellyn, IL 60138
- Glendale Heights, IL 60139
- Gages Lake, IL 60030
- Grayslake, IL 60030
- Gurnee, IL 60031
- Glencoe, IL 60022
- Glenview, IL 60026
- Golf, IL 60029
- Highland Park, IL 60037
- Highwood, IL 60040
- Hawthorn Wds, IL 60047
- Hawthorn Woods, IL 60047
- Hinsdale, IL 60521, 60522
- Hinsdale, IL 60521
- Island Lake, IL 60042
- Indian Creek, IL 60061
- Itasca, IL 60143
- Kenilworth, IL 60043
- Lake Bluff, IL 60044
- Lake Forest, IL 60045
- Lake Villa, IL 60046
- Lake Barrington, IL 60010
- Lake Zurich, IL 60047
- Long Grove, IL 60047
- Libertyville, IL 60048
- Lindenhurst, IL 60046
- Lincolnshire, IL 60069
- Lombard, IL 60148
- Medinah, IL 60157
- Mundelein, IL 60060
- Naperville, IL 60563, 60566
- Naperville, IL 60565, 60567
- Naperville, IL 60540
- Northbrook, IL 60062
- Oak Brook, IL 60523
- Park Ridge, IL 60068
- Prairie View, IL 60069
- Riverwoods, IL 60015
- River Forest, IL 60305
- Roselle, IL 60172
- South Barrington, IL 60010
- Vernon Hills, IL 60061
- Villa Park, IL 60181
- Wauconda, IL 60084
- Warrenville, IL 60555
- Westmont, IL 60559
- Winthrop Hbr, IL 60096
- Winnetka, IL 60093
- Wilmette, IL 60091
- Willowbrook, IL 60527
- Western Springs, IL 60558
- West Chicago, IL 60185
- West Chicago, IL 60186
- Wayne, IL 60184
- Wood Dale, IL 60191, 60399
- Woodridge, IL 60517
- Wheaton, IL 60189
- Winfield, IL 60190, 60187
- West Chicago, IL 60185, 60186