About Me

Peter Thompson – MNLS #283204

Looking for information on a Chicago Area renovation loan?

Thanks for stopping by. My name is Peter Thompson and this is my blog, Chicago 203k.com, Renovation Made Easy. I’ve been a mortgage loan officer since 1992, and in that time Pete ThompsonI have helped a whole lot of families and individuals buy their own homes and take control of their financial future. I feel blessed to be able to help so many people with what may be the biggest purchase of their lives. Getting through the mortgage process can be complicated and stressful, and getting the right advice from the start is a big deal. This is true for mortgages in general, but even more true for renovation mortgages like the FHA 203k and the Homestyle renovation loan.

I first started doing renovation loans about 10 years ago. At the time, the housing market was booming, but there were signs of trouble ahead. The qualification standards for getting a mortgage had lowered to the point where nearly anyone with a pulse could get a mortgage. It wasn’t long before the bottom dropped, and the boom became a bust. Property values dropped, and foreclosures became common, even in the best of neighborhoods. There is a sad story behind every foreclosure, and too often this was reflected in the property condition. Foreclosed homes often came with problems, usually from a lack of maintenance, sometimes vandalism or abuse. On the buyer’s side, these homes were opportunities. The prices were lower than other homes, and with a little work, these broken homes could often be transformed into dream homes. There were so many people that found the home that they loved, but needed more money to repair it, and make it the way they wanted their home to be. The FHA 203k was a loan that worked for this, but it had the reputation of being hard to work with, and a hard loan to close. I took the training to be certified as a renovation mortgage lender, and dug in to find out how to do these loans, in a way that reduced stress for the borrowers and make it a smooth and reliable closing. Over the years, my team and I have become experts in renovation, and

My office is in Lisle, in the Western Suburbs of Chicago, and I live close enough that I can ride my bike to work (I usually don’t, though). Helping people get the best deals on their mortgages takes up my full workday, but I do enjoy my dowMP picturen time. I write in my free time, and have published two novels, a thriller, Living Proof, and a book for middle school readers, Summer on Earth, which will come out in August of 2017. I have also written extensively on mortgages and been published in a number of local and national newspapers and magazines as a mortgage and renovation expert. I am a real proponent of health and fitness, and one of my goals is to travel the world. A couple of times a year, I will grab my backpack and a guidebook, and fly off to see a new part of this planet. My kids are grown and out of the house now, but my family is still my center, and I love spending time with my three boys.

If you have any questions or if I can help in any way, give me a call at (630) 479-6424, I’d love to hear from you.

About My Team

My team and I strive to give each client the best experience and we deliver the highest level of service consistently. Our approach is to stress education and communication. Understanding how the mortgage process works and what options are available gives you the information you need to make the decision that is best for you. When speaking with potential clients, I take the time to go into depth on their financial situation and long and short term goals. This way I can make sure that I suggest the financing option that will fit best both for now and in the future. My team and I communicate with everyone throughout the process, and give weekly update calls to everyone involved. This insures a smoother transaction and happier buyers. Let us know if you have any questions at all. or can help in any way.

 

About loan Depot

The company I work for, loanDepot, is the 5th largest mortgage lender, and the 2ndlargest non-bank lender in the country. They are a leader in technology, and one of the fastest growing financial companies. More importantly, they are a leader in making the mortgage process more user friendly, and streamlining mortgage approvals and closings. One of the things we do that is unique, is a life time guarantee for a no-cost refinance. loanDepot will waive all lender fees and reimburse your appraisal when you refinance your home with us in the future.

loanDepot is America’s lender offering home purchase and refinance loans, personal loans and home equity products nationwide. Headquartered in Southern California, the company operates Direct, Retail and Wholesale business channels nationwide. Licensed in all 50 states, loanDepot generates loan production from 12 business production centers, employs 6,000+ people including more than 1,700 licensed lending officers who hold more than 10,000 state licenses, and operates over 180+ lending stores nationwide. loanDepot is an approved seller and servicer for Fannie Mae, Freddie Mac and Ginnie Mae. loanDepot, LLC, NMLS #174457. Learn more at loandepot.com.