Do you want to buy a house, but aren’t sure you can cover the down payment? Let’s talk about some down-payment assistance programs that may be able to help. Down payment assistance can be the difference between saying “yes” or “no” to a first home. If you are interested in buying a home but don’t have cash on hand for a down payment, or if you have a son, daughter or any other friend or family member who would like to purchase a home but doesn’t have cash for a down payment in the state of Illin...
Sep 05, 2018
Home affordability is shrinking fast. Here’s what you should do to get ahead of the curve. Home affordability is shrinking rapidly, according to research by Arch Mortgage Insurance. In the first quarter, affordability (defined as the size of the monthly mortgage payment needed to buy a home) dropped by 5%. This was mainly due to the increase in mortgage rates. As a consequence, more people are now stretched and taking on greater debt relative to their income. Other buyers are being pushed out of...
Jun 15, 2018
The real estate market remains red-hot. In fact, Zillow estimates that homes sold more quickly in 2017 than ever before. And 2018 seems on-pace to beat 2017. However, one segment of the real estate market seems to be lagging. I’m talking about luxury homes. Prices in the top 5% of the real estate market increased just 5.1% in 2017 , almost 2% lower than the rest of the market. What's going on? Affordability does not seem to be an issue: more Americans can afford a top-level home than ever before...
May 16, 2018
Before hiring a real estate agent, you need to do some vetting. Here are the questions that we recommend you ask. Buying or selling a home is a major project. Having a trustworthy agent to guide you through that project can be an invaluable asset. But how can you vet potential real estate agents to see who would be a good fit for you? Here are three important questions you should ask to get started: 1. "How many homes have you sold in the last 12 months?" Many real estate agents will tell you th...
Apr 26, 2018
If you’re buying a home with a mortgage, you absolutely need to get a pre-approval first. Here’s why. There's no doubt about it. It's a very competitive market today if you are looking to buy a home. Inventory is near record lows, and more and more homebuyers are entering the market. This means you need every advantage to grab that perfect home when you do find it. One no-brainer is to get pre-approved for a mortgage. A pre-approval informs you of how much you can borrow and it's something you w...
Apr 03, 2018
Happy New Year! We hope 2018 is your best year yet. Happy New Year! We want to take a minute to thank our wonderful friends, clients, and family members who worked with us or helped us this past year. Thank you so much for your trust in us here at Diamond Residential Mortgage- Libertyville. Jan has been serving mortgage clients for over 20 years now, and we are just very thankful for all of your support. We hope you have a wonderful and fabulous 2018. Make it your best year yet! Make 2018 your b...
Dec 05, 2017
The Fed’s announcement to cut back its balance sheet means the longer you wait to buy or sell a home, the harder it might be for you. The Federal Reserve just announced a move that will have a big impact on both home buyers and sellers. At the latest Fed meeting on September 20th, Fed Chair Janet Yellen announced that the Fed would start to cut back its balance sheet. While that might sound boring compared to the usual announcements of Fed rate hikes, it's actually a very big deal. You see, when...
Oct 17, 2017
Real estate investing is on the rise. Here are five different ways you can get involved. Investing in real estate is no longer restricted to the super wealthy. According to a recent survey, real estate investors now make up 15% of the population. That translates to almost 50 million individuals who invest in at least one property other than their primary residence. In fact, 89% of U.S. investors are interested in putting their money in real estate because of benefits such as cash flow, tax incen...
Sep 15, 2017
Home remodeling is as hot as it's ever been. Here are five projects that bring the best return on investment. Home remodeling is hotter than ever. According to researchers at Harvard University, remodeling investment is up 6% over last year and now makes up a $324 billion market. According to a survey of remodelers and real estate professionals, there are five remodeling projects that offer the best returns: 1. Your kitchen. Kitchen remodeling can be as simple or as elaborate as you like. Howeve...
Aug 24, 2017
The Fed’s recent rate hike shouldn’t have any significant impact on our market. In fact, it might actually stimulate it. On June 14th, the Federal Reserve increased its federal funds interest rate by 0.25%. They’re also widely expected to raise rates once or twice more over the course of 2017. What does this mean for the real estate market? While any action by the Fed always garners a lot of attention, I believe these increases will not have any significant impact on our market. First of all, mo...
Jul 31, 2017
Today I want to inform you about how Fannie Mae, the nation's largest underwriter of mortgages, recently introduced three new rules that will affect those with student debt. If you have a student loan or you are a cosigner on one, I have some good news for you. Fannie Mae, the nation's largest underwriter of mortgages, recently introduced three new rules that will affect those with student debt. These new rules can make it easier to get a mortgage, and they can make it easier to pay off your (or...
Jun 19, 2017
Today, I want to share with you all the options you have for an affordable down payment as a homebuyer. What's the biggest obstacle to homeownership? According to a recent survey, "saving enough for a down payment" comes at the top of the list. A whopping 55% of prospective homebuyers cited this as their main stumbling block. And with the continuing growth of home prices, things aren't getting any easier. In fact, homeownership rates reached a 20-year low last November. It wasn't always like thi...
May 22, 2017
I recently read some advice for self-confidence from a teenage girl's website, and I think it can actually be really helpful to you and your career. Try thinking about these scenarios in a different way to help yourself. Sometimes when we use our same introduction or phrasing over and over again, we can get a little bit stale. In turn, I think we can also lose a little bit of self-confidence. I came across this recent bit of advice from a teen girl's website, actually. It's something you can sha...
Mar 20, 2017
Are you curious why so many people choose us to help them buy and sell homes? Let Liz Cannon tell you. Here at Liberty Mortgage, we value our clients’ well-being above all else. As a testament to our dedication and the quality of service we provide, today we’ve brought in a former client of ours, Liz Cannon, to share her experience of working with us. “I could not be happier with Jan and her team and their services, hard work, and dedication,” Liz says. “They seriously were a lifesaver during th...
Feb 03, 2017
I think Joe Maddon is not only a great baseball coach, but he also has some great philosophies on life I’d like to share with you. Today, I wanted to share with you an inspirational quote by Joe Maddon, the coach of the reigning World Series champion Chicago Cubs: “If I’m honest with you, you might not like me for a day or two, but if I lie to you, you’re going to hate me forever.” That line would be my next tattoo if I could minimize it enough. In my business, it’s important to be very transpar...
Nov 08, 2016
