Chicago houseTo own a home is not that simple. Financially, it can be a big burden and one have to have a significant amount of money before making the first move to make this dream come true.

Firstly one has to identify what one can really afford. You have to know what are the savings and other existing funds that you have and also the incomes in the coming years. If you intend to get a home loan, you have to ensure that there is a clear source of income in the future which must be in place.

With home energy bills on the rise across the nation, lenders are offering homeowners financing to upgrade their homes.

Long-term, low-interest mortgages and loans are popping up from both government and private lenders for homeowners who want to improve their homes' energy efficiency. Borrowers can even arrang for 30-year loans with interest rates under 10%.

For example, homeowners who wish to purchase a home that needs energy upgrades -- such as new appliances and heating -- can add an additional $35,000 to their mortgage using a FHA program.

There are many things that go into successful home loans. One of the key ingredients to making a loan work for you is to insure that the cost of the loan, which is called the interest rate, is the most affordable that it can be for your specific needs.

The good news is that interest rates are still quite low in comparison to what they were just ten years ago. Now is the time to buy because the prediction is that many interest rates will be on the rise. How do you make sure that the home loans you select are the most affordable that they can be?

To handle your finances properly, a great way is to utilize your home equity for consolidating your debts. You may save huge amounts of money by transferring your debts from many high interest credit cards to one particular low interest loan; thus the money that you are paying every month for your debt will also be lowered.

It’s also a great benefit if by consolidating with your home equity loan you have to just worry about one payment every month. Although consolidating is a very good idea but before taking a home equity loan you must know three important things.

A home is not something that one goes around buying on a regular basis. It is a carefully planned move and often comes attached with high expectations and anxiety. It is also more often than not unrealistic to imagine buying a home without a home loan of some kind. But let’s begin with the preparations you need to do to apply for a home loan.

Preparing for a loan application

Are you planning on moving to the Chicago area? If you are, have you decided where you would like to live yet? When it comes to living in Chicago, there are a large number of individuals who decide to rent an apartment. While renting an apartment is more than possible, did you also know that you have another option? That option involves buying a Chicago condo.

Apartment_ChicagoLocated in downtown Chicago, Illinois, The Columbian Condominiums are in the heart of the rich cultural and artistic life of Chicago. The condominium complex offers residents offices, theaters and boutiques. With tennis courts, running and biking around the lakefront, mini-golf and ice-skating all in Grant Park, the Columbian is close to all the active recreation one could desire.

Chicago is famed for a number of things, but many people don’t associate the city with its amazing park district. This is a shame because with more than 7300 acres of parkland, encompassing 552 parks, 16 lagoons, 33 beaches and housing one of the world’s largest fountains, it is truly a great place to visit.

If you are a homeowner in need of a home equity loan but you have not yet built up any equity in your home, don't despair. A 125 percent equity home loan may be the answer.

A 125 percent equity home loan is a second mortgage loan that allows you to borrow up to 25% more than the value of your home. For example, if your home is worth $100,000 and you owe $100,000 on the mortgage, this loan program would allow you to still borrow up to $25,000.

Chicago is also knows as the birthplace of skyscrapers, since the first high rise building was built here in 1885. Today, due to rapid strides made in the field of real estate, Chicago is amongst the top three cities in the world which can boast of the tallest skylines - the other two cities are New York and Hong Kong. There are more than 1500 high rise buildings in Chicago. They are lined up along the beautiful parks and beaches.