When you’re looking to buy or refinance your home, finding the right loan provider is key to a successful transaction. One of the area’s best options is Inland Home Mortgage, which provides all types of loan programs related to first and second mortgages.
“We provide a customized pre-qualification process for each of our homebuyers, which allows them to have the most buying power when they are shopping for a home,” says President Frank Binetti.
And as a full-service lender, Inland Home Mortgage provides all types of mortgage programs—jumbo, conventional, FHA, VA, and construction loans. Inland services the entire Chicago metro area and suburbs, but even more convenient, Inland can do loans in 49 states for people looking to move, purchase second homes or investment properties, or refinance homes almost anywhere in the country. In the Chicago area, Binetti says the real estate market is definitely on the upswing and very strong.
“Homes that are well-kept and in good locations are selling in days—if not hours,” Binetti explains. “We are seeing multiple bids on these types of homes. The key to the high-end market selling appears to be location.”
With areas like Hinsdale thriving even in the luxury market, he says competition for homes is very intense, but there are still opportunities in the market. Finding a good realtor or builder to work with is key.
In terms of lending, Binetti advises first-time homebuyers to meet with a lender to be pre-qualified before ever beginning the search. The combination of a knowledgeable realtor and a good lender who can help you review your credit score and give thoughtful advice is ideal.
“The biggest mistake first-time homebuyers make is squeezing out every penny to buy a home. Having savings for decorating and repairs is an important consideration when buying a home,” Binetti adds.
Another interesting thing has happened in the past few years following the housing crisis. Mortgage guidelines have expanded considerably, and buyers are seeking out mortgage bankers before their realtors, says Alex Bokich, vice president and area manager at Inland Home Mortgage.
“Having a mortgage pre-qualified alleviates a lot of time once a sales contract is agreed to,” he adds. “Having a mortgage professional identify what is in your best interest a month or two prior to actually looking for a property makes the transaction run more smoothly.”
Binetti agrees. “More regulations have resulted in a more difficult documentation process,” he says. “There’s nothing worse than having your closing delayed because of something that your lender should have identified early in the loan process.”
Because of this, Inland only employs experienced loan consultants. “We take a consultative approach when we work with our customers,” Binetti says. “We pride ourselves on our ability to communicate effectively with not only our borrowers but with everyone associated with the transaction.”
The process of getting a mortgage has been described in many ways, but “simple” is not one of them.
“The mortgage banker role has turned into more of a guide,” says Bokich. “The key to any successful mortgage transaction is having realistic expectations from day one—and having an experienced, local team behind you.”
To learn more about Inland Home Mortgage’s lending options, contact Alex Bokich at 847-867-1143 or email [email protected] His offices are located at 2805 Butterfield Road, Suite 370, in Oak Brook.