Chicago Ranks as Highest Taxed City in the Nation
Under the leadership of rookie first-term Democrat Mayor Lori Lightfoot, Chicago beat all other major U.S cities as being ranked the highest taxed city in the nation.
Illinois Tax Burden is The Least Friendly in The U.S.
This guide covers how Illinois tax burden is the least friendlyy in the U.S. Illinois is making news again. According to a new study, Illinois Tax Burden makes the state as the least friendly taxed state in the nation. The state already made the #2 spot as having the highest property tax in the nation….
How Property Taxes on New Construction Homes Are Calculated
This blog will discuss how mortgage underwriters calculate property taxes on new construction homes. Property taxes on new construction homes can often affect the homebuyer’s debt-to-income ratio due to being estimated versus an exact number. The exact property taxes on new construction homes are not known until a few years after the development has been…
How Property Taxes in Mortgage Qualification Affects DTI
This guide covers property taxes in mortgage qualification and how it affects debt-to-income ratios. For homebuyers, especially first-time home buyers, property taxes in mortgage qualification are one of the most important aspects to consider when buying a home. John Strange, a senior loan officer at Gustan Cho Associates, explains how property taxes in mortgage qualification…
Preparing For Mortgage Process In Illinois
This guide covers preparing for mortgage process in Illinois. Preparing For Mortgage Process In Illinois is different than other states. Illinois is not a community property state. This means that a spouse’s debt is not counted if the spouse is not on the mortgage loan nor is the spouse’s credit. Preparing For Mortgage Process In…
Property Tax Proration VA Guidelines on VA Home Loans
This guide covers property tax proration VA guidelines on VA home loans. There are certain states where property taxes are paid in arrears. States, where property taxes are paid in arrears, require that sellers credit buyers with the prior year’s taxes at closing. These is called property tax proration credits. Every loan program has property…
Using Property Tax Prorations For Down Payment on a House
This blog post will explore the revised mortgage guidelines on Using Property Tax Prorations For Down Payment on a House. The updated agency mortgage guidelines now permit homebuyers to utilize property tax prorations sellers provide for their home purchase down payment. Recently revised guidelines from HUD, VA, USDA, Fannie Mae, and Freddie Mac state that…
Property Taxes Can Determine Buying Power on Homes
This guide covers how property taxes can determine buying power on home purchase. Every homeowner needs to pay property taxes. Property taxes are mandatory on all properties in the United States. Property taxes can determine buying power for home buyers because it affects debt-to-income ratios. There is no set percentage of the home value that…
Getting More House For Your Money With Low Property Taxes
This guide covers getting more house for your money with low property taxes. Getting more house for your money is possible. Getting more house for your money for homebuyers can be done by getting a home with lower property taxes. Property taxes vary widely from state to state and county to county. New Jersey has…
Eliminating Property Taxes Proves It Works For Texas Town
This guide covers eliminating property taxes, such as how it works for a small town in Texas. Property taxes are how most communities pay for their schools, city services, police, fire, and other expenses. Lately, high property taxes have been a concern for many homeowners. Many cities with budget deficits raise property taxes to cover…
Property Tax Homestead Exemption For Homeowners in Florida
This guide covers Florida Property Tax Homestead Exemption: What Is It and Why Do You Need It? What is the Florida Homestead Exemption? The Florida Homestead Exemption is a state tax exemption that could save you hundreds of dollars yearly on your property taxes. The exemption applies to your primary residences, such as condominiums, mobile…
Mortgage Processing And Underwriting | Home Mortgage | Home Purchase | Property Taxes | Real Estate Topic | Videos
What To Expect in The Real Estate Closing Process
This guide will cover the frequently asked question on real estate closing. Does the real estate closing costs process different vary from state to state? We will first start discussing real estate closing and how the real estate closing process work on home purchase and refinance transactions. We will then dive into real estate closing…
Bad Credit Mortgages | Home Mortgage | Home Purchase | Home Sellers | Property Taxes | Real Estate Topic | Resources | Selling Your Home | Videos
More Homeowners Fleeing Illinois Than Any Other State
In this article, we will discuss why More Homeowners Fleeing Illinois Than Any Other State in the nation. Illinois is tied neck to neck with California for residents and businesses leaving their state. Illinois is now the sixth most populous state. It used to rank as the fourth most populous state in the country, but…
States With Highest Property Taxes For Homeowners
This Article Is About States With Highest Property Taxes For Homeowners States With Highest Property Taxes For Homeowners Many home buyers thinking of relocating to another state often wonder what are the states with higher property taxes. Many homeowners who have remote jobs or have their children off to college often think of relocating One…
Cook County Property Taxes Soaring To 20-Year Record High
This Article Is About Cook County Property Taxes Soaring To 20-Year Record High Cook County Property Taxes Soaring at historic record pace since 2000. Cook County is the largest county in Illinois It is also the most populous out of any county in Illinois Cook County covers the city of Chicago Lake and Cook County…
Illinois Home Values Decline Due To Rising Property Taxes
This ARTICLE On Illinois Home Values Decline Due To Rising Property Taxes Was PUBLISHED On December 7th, 2019 Illinois holds the second-place record for having the highest property taxes. New Jersey holds the throne as having the highest property tax rate in the Nation However, New Jersey’s property taxes have stabilized Many counties in Illinois…
Chicago Property Tax Hikes Will Fund Most Of CTU Contract Settlement
This ARTICLE On Chicago Property Tax Hikes Will Fund Most Of CTU Contract Settlement Was PUBLISHED On November 8th, 201 Here we go again Chicago. Chicago is the highest taxed city in the nation Chicago has the highest property tax in the U.S. Illinois has the second-highest property tax rates in the nation New Jersey…
Illinois Housing Market Recovery Still Lags The Rest Of The Nation
This ARTICLE Is About Illinois Housing Market Recovery Still Lags The Rest Of The Nation The economy has never been as good as it has been since President Donald Trump took office. Unemployment numbers hit a 50 year low at 3.5%. Record job numbers last Friday skyrocketed the stock markets to a historical high. Every…
Illinois Rising Property Taxes Are Forcing Homeowners To Flee State
This article on Illinois rising property taxes was published on September 30th, 2019 Illinois rising property taxes are hitting the national news Illinoisans had high hopes with the election of new Governor JB Pritzker to take office and start fixing the financial mess in the state The opposite happened After the new Illinois Governor took…
Peoria Illinois Creates New Property Tax Devoted To Pension Shortage
This ARTICLE On Peoria Illinois Creates New Property Tax Devoted To Pension Shortage Was PUBLISHED On September 25th, 2019 It is no news to Illinois taxpayers that new Governor JB Pritzker is raising taxes in everything he can think of in Illinois. Most cities and counties in Illinois is facing a financial crisis Property taxes…
Illinois Versus Indiana Property Tax Comparison For Homeowners
This ARTICLE On Illinois Versus Indiana Property Tax Comparison For Homeowners Was PUBLISHED On September 15th, 2019 Illinois is home to many including myself and Gustan Cho Associates Mortgage Group. Downtown Chicago is probably one of the most beautiful spots, if not the most beautiful, in the country Everything about Illinois is great The city…
