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Offering the best mortgage tools available on the Internet - easy, convenient, online mortgage shopping for the best loan programs and most current mortgage rates available, together with the assistance of an experienced, live mortgage loan officer to guide you through the often difficult and confusing process of choosing and getting the exact mortgage loan to meet your specific needs in Illinois.
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Existing homeowners who need to raise cash for a one-time expense might look into home equity loans and refinance mortgages. Home equity loans are fixed-rate second mortgages. In Illinois, home equity loan rates will be higher than mortgage refinance rates.
Adjustable-rate mortgages (ARMs) in Illinois are characterized by a low, fixed interest rate that later resets to a variable rate. The rate is tied to a benchmark financial index and moves up or down with macro-economic trends. ARMs might be best for self-employed borrowers whose income fluctuates with the economy, or borrowers who need a low payment in the first one, three, or five years of the loan.
Friday, 16-May-2008 19:20:39 CDT