John Listello Mortgage Loan Officer NMLS# 1054201

John Listello Mortgage Loan Officer NMLS# 1054201 About Me
I have been in the mortgage Industry since 1997. My clients have ranged from first time hom

Congratulations Kenia and Gil on your new home
10/28/2024

Congratulations Kenia and Gil on your new home

Catching up on some recent activities
10/17/2024

Catching up on some recent activities

ConGRADulations Gwendolyn on your new home
04/01/2023

ConGRADulations Gwendolyn on your new home

Congratulations Sharon
02/28/2020

Congratulations Sharon

01/28/2020

Mortgage Rates are Near MULTI-YEAR LOWS!!
Don't miss out on this opportunity to refinance and SAVE.

Great Day, helped a Chicago Firefighter and his wife purchase their first home
04/25/2019

Great Day, helped a Chicago Firefighter and his wife purchase their first home

Purchase closing today,happy Friday
03/30/2019

Purchase closing today,happy Friday

Always a Great feeling to help create a new homeowner, congratulations Eddie
03/01/2019

Always a Great feeling to help create a new homeowner, congratulations Eddie

06/19/2018

Creative Ways to Save
on Energy Costs this Summer

Are your summertime electricity bills astronomical? Check out some of our creative ways to trim your bill in the summer and throughout the entire year!
If your summertime electric bills are kicking holes in your budget, we’ve got some tips that can save you big bucks. Some are things you’ve likely never heard, mixed with advice your dad might have given you.


1. Plant trees

If your home has west-facing windows, you’re likely getting loads of sunlight each afternoon. Your AC unit has to work harder to manage all of the heat coming in. Lower your energy consumption by planting trees or large shrubs in front of some of those windows.


2. Rethink your roof

By installing a sunlight-reflecting “cool roof,” you can reduce your roof’s temperature by up to 60 degrees. This can trim your air conditioner use by as much as 20%.


3. Lighten up

Replace your light bulbs! By swapping out just five incandescent light bulbs in a high-traffic area of your home to CFL or LED bulbs, you can save $65 on annual energy costs.


4. Pull out the plug

Up to 75% of energy consumption by home electronics happens when they’re turned off. Save big by pulling out the plugs when you’re done with your electronics.

02/15/2018

What You Need to Know About Mortgage Insurance

Homeowners insurance and title insurance may not be the only kinds of insurance you need when you buy a home. Many buyers also have to purchase mortgage insurance, which lenders require for mortgages with a down payment of less than 20 percent. Take the time to understand what you’re buying and how long it will affect you.

Mortgage Insurance Protects the Lender

Most types of insurance will pay you if you make a claim. Mortgage insurance, though, is solely for the lender. If you were to stop making payments and the lender foreclosed on your home, the mortgage insurance would pay the lender the difference between the profit from selling your home and the amount you still owed on your mortgage.

Types of Mortgage Insurance

When you have a mortgage with a traditional lender, you get private mortgage insurance, often abbreviated PMI. This insurance is provided by a third party, although your lender will typically dictate who provides the insurance. When you get an FHA mortgage, the federal government provides the mortgage insurance and you pay mortgage insurance premiums, often abbreviated MIP.

Mortgage Insurance Amount

You can generally expect to pay 0.5 percent to 1 percent of your loan balance each year for private mortgage insurance. FHA mortgage insurance premiums are set by the federal government, and as of 2017, are 1.75 percent of the loan balance up front, plus 0.45 percent to 1.05 percent of the loan balance each year, depending on the type of loan.

How to Stop Paying Mortgage Insurance

FHA loans have mortgage insurance until the loan is paid off, either through regular payments or by refinancing. Traditional loans automatically cancel mortgage insurance when you have reached the point on your amortization schedule where the loan balance drops below 78 percent of the purchase price. You also may be able to apply to cancel mortgage insurance as soon as your loan balance is less than 80 percent of your home’s current appraised value.

How Can You Get Around Paying Mortgage Insurance?

When purchasing a home, the only way to avoid having to buy mortgage insurance is to get a mortgage for less than 80 percent of the home’s purchase price. However, the cost of mortgage insurance may be something you’re willing to pay for the opportunity to buy now without a down payment of 20 percent.

Address

Downers Grove, IL
60515

Opening Hours

Monday 7am - 11pm
Tuesday 7am - 11pm
Wednesday 7am - 11pm
Thursday 7am - 11pm
Friday 7am - 11pm
Saturday 8am - 5pm
Sunday 8am - 5pm

Telephone

+17083743040

Website

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