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What s next for special purpose credit programs?

Now that the Department of Housing and Urban Development clarified that participating in these programs does not create a fair lending violation, lenders and fair housing advocates wonder whether more mortgage lenders will actually participate.

Headline Solar Signs 15,690 SF Office Lease at Bell Works Chicagoland

Headline Solar Signs 15,690 SF Office Lease at Bell Works Chicagoland
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Headline Solar moving national headquarters to Bell Works in Hoffman Estates

Headline Solar moving national headquarters to Bell Works in Hoffman Estates
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The Family Home-Buying Guide

Pre-approval is a smart idea. Taking this step means you ve been tentatively approved for a mortgage of a certain size, giving you a sense of how much you can safely spend on a home. It also shows sellers that you re a serious contender, which can make a difference when you re bidding against other buyers. There are two main things a seller wants to know about buyers: Are they willing to pay my price and can they close a deal if we agree? says Dale Taylor, a realtor in Chicago. Start by using an online home-affordability calculator to determine how much money you can borrow. Then check Bankrate.com for competitive rates in your area. Select a mortgage lender who is easy to reach, happy to answer your questions, and trustworthy (avoid anyone who pushes risky adjustable-rate mortgages). But don t feel committed to him. Once you re ready to proceed with an actual mortgage, call around and compare closing costs and any bonuses or rebates being offered. You might a

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