Deadline Approaching: Illinois state grant applications for mortgage help close on October 31, 2023. .

The Fed Paused its key interest rate at at its current range between 5.25% and 5.50%. Meanwhile a rate hike is expected on Fed next meeting on Oct 31- Nov 1.Officials cut forecasts for 2024 rate cuts, suggesting a "higher for longer" policy; benchmark rate above 5% by...

Illinois lenders facing rising foreclosure rates need to adhere to state, county, and municipal notice and registration rules.

Empowering Lives: The Section 8 Housing Choice Voucher Program The Section 8 Housing Choice Voucher program stands as a beacon of hope for vulnerable communities across the United States. Administered by local housing authorities and overseen by the US Department of...

Despite a slowdown in rental rate increases, some states remain well above the 2.6% national avg in the first 7-mo of 2023.

State homes remain affordable, below national median prices. .

Foreclosure rate in Illinois was 0.2% in H1, ↓ 3.3% yearly. It means there is one foreclosure filing for every 397 housing units.

Smart home products and systems are increasingly influential in attracting buyers across different price points. >34% of likely buyers would pay a few thousand dollars extra for a smart home compared to a non-smart home. ~85% of buyers consider smart home features...

Lenders have guidelines regarding max DTI (Debt to Income) to approve a loan. Many lendaers allow for DTI ratios up to 50%. Still, loans with higher DTI ratios typically have worse terms. Higher DTI may require a higher down payment to meet loan approval criteria.

The Crucial Role of Mortgage Pre-Approval in Home buying Embarking on the journey of homeownership is an exciting and significant step in one's life. Amidst the myriad of decisions and steps involved, mortgage pre-approval emerges as a pivotal process that lays the...