Getting your loan locked down is just one aspect of a real estate transaction. American International Realty Corp. is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call us today at (773) 435-1605 if your needs include a real estate pro ready for the business side of buying and selling.


Are you financing your new home in Chicago?

For many people, securing a loan can be one of the most demanding elements of purchasing a house. But it doesn't have to be. Having connections with many lending companies in the Chicago area has helped me learn some things that make the loan application process a breeze.

1 – Organize a list of questions about your loan program

If you find that you do not perfectly understand the pros and cons of all the various loan programs, be sure to bring a list of questions. It is hard to know the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts will assist you with understanding the advantages and disadvantages of both programs.

2 – Decide when to lock

When you lock in the rate, your mortgage lender is sure to hold to the interest rates for the loan – generally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the loan application day and the issuing of closing documents. Those who prefer to float conclude the interest rates will dip in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to reduce your rate

When you elect to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will help you decide if purchasing points is right for you.

4 – Bring your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to get a feel for common information that goes on a loan application.

American International Realty Corp. 6138 N. Lincoln Ave Chicago, IL 60659
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