Northern Illinois Real Estate Videos & Market Updates

Are you thinking of buying a home? Avoid these 3 common mistakes that many buyers are making in today’s market: trying to time the market, buying more house than they can afford, and missing out on assistance programs. Let The Kombrink Team help you navigate the process smoothly!

Worried about the cost of buying your first home? You’re not alone—saving for a down payment and handling monthly payments are top concerns for first-time buyers. That’s where FHA loans come in. With lower down payment requirements and typically lower mortgage rates, FHA loans are designed to make homeownership more accessible. Talk to a lender to see if it’s the right fit for you.

Pre-qualification is a guess. Pre-approval is a game-changer. If you're serious about buying a home, you need to be pre-approved — not just to win the house, but to avoid nasty surprises down the road. Sellers want solid offers backed by proof, not vibes. Learn why pre-approval can give you the edge in a competitive market and how to get started.

Thinking about buying your first home but worried your credit score isn’t high enough? You’re not alone—and you may be overestimating what it takes. In this video, we break down the median credit scores by loan type and explain why there’s no one magic number. Your credit doesn’t have to be perfect to qualify! The best step? Talk to a lender to explore your options. Let’s get you on the path to homeownership.

Renting might feel cheaper now, but rent always goes up. Meanwhile, home values rise too, but as a homeowner, that works in your favor. When you buy: Lock in your monthly payment Build wealth through home equity Ditch rising rents for good! If you're ready to explore starter homes, The Kombrink Team at One Source Realty can help.

Mortgage rates have ticked higher again, but waiting around for the perfect rate isn’t always the best strategy. One option buyers sometimes overlook is new construction. Buyers of newly built homes have recently been getting lower mortgage rates than buyers of existing homes, in part because builders can offer incentives like mortgage rate buydowns. That lower rate could mean a noticeably smaller monthly payment. If you're buying in the Fox Valley or Chicagoland suburbs, The Kombrink Team can help you find new construction communities and see which builders are currently offering buyer incentives.

Waiting for mortgage rates to come down might seem like the safest move, but it doesn’t always play out that way. A recent survey found that 41% of buyers who waited for lower rates wish they had bought sooner. With inflation, the economy, and global events all influencing mortgage rates, there’s no guarantee a big drop is coming anytime soon. That doesn’t mean you should rush into buying. It means you should know what the numbers look like right now before deciding to wait. A trusted lender can help you understand today’s rates, available loan programs, and what payment actually works for your budget.

Thinking about tapping your 401(k) for a down payment? It can be tempting, especially when saving enough cash feels like the biggest hurdle to buying a home. But accessing retirement savings early can come with taxes, potential penalties, and the bigger long-term cost of missing out on future investment growth. Before touching your retirement account, explore other possibilities. Qualified buyers may be able to use an FHA loan with as little as 3.5% down, and down payment assistance programs may also be available. Talk with a qualified financial advisor about the financial side, and if you're wondering what home-buying options are available in Northern Illinois, contact The Kombrink Team at 630-402-0021.

If you’ve owned your home for several years, you may have built more buying power than you realize. The typical repeat buyer is putting around 23% down on their next home, often using equity from the home they’re selling. That larger down payment can mean a smaller mortgage, lower monthly payments, less interest over time, and potentially no private mortgage insurance. So if today’s mortgage rates have you wondering whether your next move is still possible, don’t assume the answer is no. Your current home equity could change the math quite a bit.

A lot of buyers are putting their plans on hold until mortgage rates come down. But historically, today’s rates are closer to normal than many people realize. The ultra-low rates during the pandemic were the exception, not the rule. Waiting for those record-low rates to return could mean missing opportunities that are available right now. If buying a home is important to you, The Kombrink Team can help you explore strategies that make today’s market work for your budget.

Moving soon but not sure whether to sell your current house or buy your next home first? Selling first can help you avoid carrying two mortgages, give you a clear picture of the money available for your next purchase, and make your offer more attractive to sellers because it isn’t dependent on another home selling. The best order depends on your finances, timeline, and the local housing market. Reach out to The Kombrink Team, and let’s create a moving plan that keeps the stress and surprises to a minimum.