Finances
Why Get Pre-Approved?
1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.
2. While a “pre-qual” is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.
3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.
Mortgage Calculator: Maximum Purchase Price
Marc Purvis of Guaranteed Rate Affinity
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News Letter from DARIN DANIELS of Wells Fargo: June 24, 2022
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Current Mortgage Rates for COOK COUNTY, IL
How can I help you? I’ve included below a selection of current rates for a few of our many products. I’d be happy to discuss options with you and your client based on their particular needs.
Conforming
| Loan Type |
MI Type |
Interest Rate |
Discount Points |
APR |
| Conforming 30-year Fixed |
|
5.375% |
0.875 |
5.533% |
| Conforming 5-year/6-month ARM |
|
4.500% |
1.000 |
4.180% |
Jumbo
| Loan Type |
MI Type |
Interest Rate |
Discount Points |
APR |
| Jumbo 30-year Fixed |
|
4.750% |
0.875 |
4.862% |
| Jumbo 5-year/6-month ARM |
|
4.375% |
0.875 |
4.084% |
Rates shown are for purchase loans only. This information is accurate as of 6/24/2022 6:40:46 PM (CT) and is subject to change without notice.
For information on the many other loan options we have available, including refinance loans, please contact me.
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| This information is for real estate professionals only and is not intended for distribution to consumers or other third parties. The rates disclosed above are based on a variety of assumptions, including: i) the loan is for a purchase, ii) loan amount, property value and location as entered by the sender, iii) 740 credit score (780 jumbo), iv) first-lien single-family primary residence, and v) 45-day lock period. Additional fees, costs and restrictions apply. ARM rates and monthly payments are subject to increase after an introductory fixed-rate period. ARMs quoted here assume a 30-year term. Loan pricing can only be locked through a home mortgage consultant.
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Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. NMLSR ID 399801. Wells Fargo Home Mortgage-2701 Wells Fargo Way-Minneapolis, MN 55467-8000
 Equal Housing Lender
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