Please reach me at jkussy@wintrustmortgage.com if you cannot find an answer to your question.
The amount you’re approved for and the amount you should feel comfortable spending are often two very different numbers.
While lenders use standard debt-to-income ratios to determine qualification, that doesn’t always account for your lifestyle, savings goals, or future plans. In the Chicagoland area, property taxes can also have a significant impact on your monthly payment—sometimes more than the interest rate itself.
What this means for you:
We’ll look beyond just approval and help you determine a monthly payment that fits your overall financial picture, not just the maximum a system says you can afford.
Most loan programs allow for credit scores as low as 620, but your score plays a major role in the interest rate and overall cost of your loan.
For example, the difference between a 660 and a 740 score can significantly impact your monthly payment and whether you pay mortgage insurance.
What this means for you:
Before you apply, I can review your credit and identify quick, strategic ways to improve your score—often in a short period of time—to help you secure better terms.
Contrary to popular belief, you don’t need 20% down to buy a home.
There are options as low as 3%–5% down for primary residences, and even lower in certain cases depending on the program. Putting less down may require mortgage insurance (PMI), but it also allows you to preserve cash for reserves, renovations, or other investments.
What this means for you:
We’ll structure your down payment based on your goals—whether that’s minimizing your monthly payment, maximizing cash on hand, or avoiding PMI.
Most purchases take about 30 days from contract to closing, though timelines can vary depending on the transaction. We can close in as little as 8 business days if needed.
The biggest factors that impact timing are how complete the file is upfront and how quickly documentation is provided.
What this means for you:
I focus heavily on upfront review and structuring so your loan moves smoothly through underwriting and closes on time—something that becomes especially important in competitive situations.
Most borrowers will need:
If you’re self-employed or have variable income, additional documentation may be required.
What this means for you:
I’ll guide you through exactly what’s needed upfront so we avoid delays. I’ll also help you navigate things like large deposits or account transfers to make sure everything is properly documented.
Yes, but your existing debt will factor into your debt-to-income ratio (DTI), which is one of the key components in loan approval.
Student loans are often calculated differently than other debts, especially if they’re in deferment or on an income-based repayment plan.
What this means for you:
We’ll analyze how your debt is being calculated and explore ways to position your file for approval—sometimes with simple adjustments that make a meaningful difference.
Yes—getting pre-approved is one of the most important first steps.
A true pre-approval involves a full review of your income, assets, and credit—not just a quick estimate. It shows sellers and real estate agents that you’re a serious, qualified buyer.
What this means for you:
A strong pre-approval not only gives you confidence in your budget, it can also strengthen your offer and help you compete more effectively in multiple-offer situations.
Many lenders can offer similar rates on paper, but the real difference comes down to how the loan is structured, processed, and ultimately closed.
Execution matters—especially when timelines are tight or complications arise.
What this means for you:
I focus on structuring loans correctly from the beginning, maintaining clear communication throughout the process, and ensuring your loan gets to the closing table smoothly and on time. That’s where the real value is.
In the Chicago area, property taxes can significantly impact your total monthly payment—sometimes more than small changes in interest rates.
Different towns, neighborhoods, and even specific properties can have very different tax burdens.
What this means for you:
We’ll evaluate not just the purchase price, but the full payment—including taxes—to make sure you’re making a well-informed decision.