One of the most critical components of foreclosure transaction is securing the right financing.  We have partnered with the most prestigious lending institutions to offer our clients some of the most innovative financing options to meet all investing needs and strategies.

1.  Need 100% financing?  We can do it.

2.  Want to finance within an LLC or partnership?  We can do it.

3.  Want to do a cash out refinance on investment property?  We can do it.

4.  Have limited cash but equity in other property?  We have programs to get your property financed.

Chase Foreclosure Illinois preferred lenders:

Commercial lender requires 15%-20% down payment. State Bank of Illinois is a community bank who specializes in loan programs for the real estate investor with loan products up to 85% of purchase price with cross-collaterization options up to 100% of financing. State Bank of Illinois is a commercial bank and mortgage broker. Close in a LLC., bank land trust, use other collateral as down payment, rehab loans, multi-unit loans, and acquire end-loan financing (broker side of bank) all with personalized service. Free pre-approvals and one-on-one appointments with loan officers who make the decisions and walk you through the loan process. Ask about our home equity line of credit and Chase Real Estate specials; another option that allows you to put your equity to work.

		Countrywide Home Loans-John Houghtlin
		951-953 Oak Street North Aurora, IL 60542 Phone: 630-204-4408 Fax: 630-906-7517 Email: john_houghtlin@countrywide.com

100% FINANCING:
Call us to learn more about our unique program designed and offered only to Chase Investors.  You can purchase a foreclosure property and finance the purchase price as well as the rehab costs with 100% financing.  We have partnered with an independent private lender to offer this opportunity for you to take advantage of the buying opportunity that exists today.  Yes, this program is available even with today's more stringent lending standards.  Call Brian to learn more details.

10% Down Loan Program For Investors

Financing resources:

FHA is now the main lender for home purchases.  Here is an update:  FHA Brochure.pdf

Financing update - great news:

As of April 4, 2009 Fannie Mae will increase their current restriction of a max of 4 financed properties BACK to 10!Here is an exert from their announcement that came out.Fannie Mae is committed to providing financing opportunities for high-credit quality, bona fide investors. Experienced investors play a key role in the housing recovery and Fannie Mae's continued support for investor borrowers is consistent with its mission to provide stability, liquidity, and affordability to the nation's housing system.Fannie Mae is updating the policy that pertains to multiple mortgages to the same borrower. Fannie Mae's current policy limits the number of one- to four-unit financed properties in which the borrower may have an individual or joint ownership interest to four financed properties when the mortgage being delivered to Fannie Mae is secured by an investment property or second home.The limitation on the number of mortgages currently being financed applies to the total number of properties financed, not just the number of mortgages sold to Fannie Mae. Fannie Mae is modifying this policy to allow investor and second home borrowers to own five to ten financed properties if they meet certain eligibility and underwriting and delivery requirements as outlined in this Announcement.The new guidelines include a 720 minimum credit score, and 20% down for 1 units and 25% down for 2-4 units.Here some more rules...The borrower cannot have any history of bankruptcy or foreclosure within the past seven years.The borrower cannot have any delinquencies (30-day or greater) within the past 12 months on any mortgage loans.Rental income on the subject investment property must be fully documented.(Rental income from other properties owned by the borrower must be supported by two years' federal income tax returns) I am not sure how they will deal with purchases that were made after your tax return was prepared though...The borrower must complete and sign Form 4506 Request for Copy of Tax Return or 4506-T Request for Transcript of Tax Return (we have all clients sign this upfront ...so no worries)The borrower must have reserves for the subject property and for other properties currently owned by the borrower.