Illinois Free Loans?

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Below Wholesale and Free Loan options offered by "Rick" at homeswithfreeloans.com) - are these available to Illinois residents?

ckalvesmaki · Posted: Sat Dec 29, 2007 7:49 pm Post subject:

Rick offers that service in conjunction with him working as your realtor in the transaction....He does business in CA not IL.

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Yes, I realize he is in CA - I am wondering if any broker/realtor offers that service in IL

ckalvesmaki · Posted: Sat Dec 29, 2007 8:03 pm Post subject:

IL is much different than CA......in CA it is far easier to be both a broker and a realtor than it is in IL......basically you can get the same kind of deal but you have to have the realtor kick in money from there commissions at close to cover closing costs.....

There is always a cost associated.....you pay the realtor in the transaction as well......how you may ask.......well the seller has to net enough money on the transaction to pay both the buyers and the sellers agetn so the price of the house is 5-8% higher than it might be if a realtor didn't have to get paid.......on a 400k home the realtors split about 24k in comissions....so if you do the math......you could maybe buy that home for 24k less or about 375k......you as a buyer don't really see this as an "exspense" but it is........So if you are going to have a realtor involved have them credit you 1% back at closing to off set your closing costs and you achieve about the same thing....now keep in mind......that Rick is refering to lender fee's........you still have 3rd party fees plus taxes and insurance that have to be paid........

lisascherzer · Joined: 04 Jan 2008 Posts: 749 0.10 Dollars($)

You can get a the same thing regarding a mortgage loan in IL. You can choose a wholesale rate or a free loan. Go to "http://www.mortgagelenders.us.com"

[Link deactivated as per forum rules. Thanks.]

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