Specialty Loans

Equity Loans

This is an interest-only mortgage loan that is borrowed against your home’s equity, typically at 90% of the value. The borrower can apply any surplus funds to the outstanding loan principal at any time, reducing the amount of interest calculated from that day onward. It also provides the client with a reusable line of credit that in most cases can be a tax deduction.

203K/Streamline/Rehab Loans

Administered through an FHA approved lending institution, these loans are used for the rehab and repair of single family properties. The 203K addresses the problem of finding interim financing to purchase a property by offering one loan for acquisitions and rehabilitation of a property instead of a series of loans. The loan allows you to include certain repairs into your mortgage by using a post-repair value for the basis of the mortgage calculations.

Jumbo Financing

These loans are for amounts that go above typical loan limits. These special loans are made for high value homes, with mortgage amounts over $417,000.

Reverse Mortgages

These are mortgages for senior citizens who would like to safely tap into their equity. They actually receive a monthly check as opposed to paying for a mortgage.

 

Jorge Rodriguez, Mortgage Adviser NMLS #263580 Peoples Home Equity, Inc. 1801 S Meyers Rd Suite 500, Oakbrook Terrace, IL 60181 Cell: (312)404-8957

jrodriguez@peopleshomeequity.com. Illinois Mortgage Licensee License # MB 0000303 NMLS# 179785. Indiana Department of Financial Institutions (DFI) License ID Number 11229. Peoples Home Equity, Inc. also does business as A&M Mortgage Group, Inc. in the State of Indiana State of Wisconsin - Department of Financial Institutions License #159BA. In the State of Illinois Mortgage Bankers are governed by: IL Department of Financial & Professional Regulation Division of Banking 100 W. Randolph Street, 9th Floor, Chicago, IL 60601 Phone: (312) 793-3000 Fax: (312) 793-7097 Web: http://www.idfpr.com/default. Toll Free Consumer Hot Line: (877)-793-3470 Webmaster Login

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