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An Illinois Mortgage Broker PPFLLC Mortgages
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Presidential Preferred Funding, L.L.C.
An Illinois Residential Mortgage Broker
847/885-2020
Illinois Mortgage Broker
847/885-2020
The Specialist In
Home Mortgages, Refinancing and Equity Loans
Illinois Mortgage Broker Serving Illinois and the Greater Chicago Land Area. Centralized Ofice to better serve our customers. Applications taken over the phone, in your office or at your home. Give us a call to find out just how fast the application process can be done.
Construction Loans
Thinking of building your next home, need to find that right builder, don't want to borrow money for construction over prime??? We can Help! Now available several programs to fit your needs, the most popular is the one time closing. Your rate during construction is below prime. Once finished you loan converts to a regular mortgage at the same rate as you selected and will be below prime for the term selected. Only close once!
What happens if rates fall? As our customer you are always on our rate whatch system, if rates start coming down to a point that refinancing makes sense we will call you to arrange one of our 1 to 3 refinace packages. These are no or low cost. Once in our system we will constantly monitor the market and inform you when it may be feasable to refinace. Don't forget our referral program. We can Help you find a Builder, Real Estate Agent, Attorney and save your some money in the process.
Lot Loans
A lot can be included in a construction loan. This program is strictly for lots. 3 year balloon note Amoritized over 15 years with loan up to 75% of value on a qualifing basis.
Bridge Loans
Up to 80% Ltv, six month terms, prime plus - interest only.
Been having trouble selling that home? Call to find out about our agent referral program, "Get The Team Approach To Selling". Bonus --- Save money also.
No MI Programs
Don,t have 20% down and hate to pay mortgage insurance. Now there is a program that pays it for you and in turn reduces you payment slightly and gives you a tax advantage*. (Consult with your Tax advisor)
This is how the system works.
Example only: 30yr fixed loan.
You are buying a home with a loan for $100,000. P&I payment with mortgage insurance is. (7.750%)
- P & I Payment is $716.41
- MI Payment is at $ 45.33
- Pre-Tax Payment $761.74
- Appr Annual Int $7477.10
- Appr After Tax $585.27
RECAP Monthly Payment PI&MI $761.74
LPMI Program
- P & I Payment $760.07
- Pre Taxed Total $760.07
- Appr Annual Interest $8111.24
- Appr After Tax Payment $570.81
- A slightly lower overall payment
- A better tax deduction (consult Tax Advisor)
This example shows the posible savings with the lender paid program. Initial savings as well as a posible tax savings.
Setting The New Pace Of The Mortgage Industry
AN Illinois Mortgage Broker ... Equal Opportunity Lender
Member Illinois Real Estate Services
Last Updated 09/06/96
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