Bob Blanke MLO

04/15/2026

Bob Blanke | NMLS #223756 | Barrett Financial Group, L.L.C. | NMLS #181106 | 2701 East Insight Way, Suite 150, Chandler, AZ 85286 | IL MB.6761630 reinvestment notice barrettfinancial.com/illinois-reinvestment | Equal Housing Opportunity | Equal Housing Lender | This is not a commitment to lend. All loans are subject to credit approval. | nmlsconsumeraccess.org

04/06/2025

With the arrival of the spring market and the drop in mortgage interest rates, the housing market is heating up! It's a great time to start house hunting. Don't miss out on the improved housing inventory!

03/14/2025

Mortgage applications increased 11% last week

03/09/2025

Mortgage rates are declining, and recent purchase application data shows a promising 9% week-to-week increase and a 2% rise compared to the previous year. Does this indicate that the housing market is beginning to wake up just in time for spring? While I wouldn’t say we’re experiencing a full revival just yet, the latest data suggests a stabilization.

02/20/2025

Mortgage rates tick down for the fifth week in a row

Mortgage rates dipped for the fifth week, with the 30-year fixed at 6.85%. Stability may aid homebuyers.

02/08/2025

Did you know if you own a business and are renting, you might be eligible to purchase a building for your business no money down. The SBA 7(a) Loan Program offers a Rent Replacement Loan option, which provides 100% financing for eligible businesses. This loan is designed to help businesses that are leasing their space and want to purchase the property they currently occupy or a new property. Call me...Here's a breakdown of how it works:
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Key Features of the SBA Rent Replacement Loan:
1. 100% Financing:
o The SBA allows borrowers to finance up to 100% of the property's purchase price, including closing costs and eligible expenses.
o This eliminates the need for a down payment, making it easier for businesses to acquire property.
2. Eligible Properties:
o The property must be owner-occupied, meaning the business must occupy at least 51% of the space.
o It can be used to purchase the property the business is currently leasing or a new property.
3. Loan Terms:
o Loan Amounts: Up to $5 million.
o Interest Rates: Negotiated with the lender but typically tied to the Prime Rate plus a margin.
o Repayment Terms: Up to 25 years for real estate purchases.
4. Use of Funds:
o Purchase of commercial real estate.
o Refinancing existing debt (if applicable).
o Covering closing costs and other eligible expenses.
5. Eligibility:
o The business must qualify as a small business under SBA size standards.
o The business must demonstrate the ability to repay the loan.
o The property must be used for business purposes.

02/04/2025

The current housing shortage and limited availability for first-time home buyers can be attributed to the increasing prices of houses and rising interest rates in the area. It is a complex issue that begs the question: which came first, the chicken or the egg? Regardless, addressing this problem, if possible, will undoubtedly be a challenging endeavor.
I believe it is time for Fannie Mae and Freddie Mac to be released from government conservatorship and return to the private sector. This transition could potentially open the door for the introduction of a 50-year mortgage option, which may be beneficial for first-time homebuyers and open the door to homeownership!

A recent ResiClub analysis of the Case-Shiller National Home Price Index has unveiled a surge in home prices outpacing those of the 1990s and 2010s.

01/21/2025

Mortgage rates fall after Trump’s executive orders

President Trump’s actions on his first day in office saw mortgage rates decline after his announcement about tariffs.

01/19/2025

One of the most common inquiries I receive is… what is the current mortgage rate at? The reality is that not everyone will be offered the same interest rate. Numerous factors come into play when determining the rate you will ultimately receive. In certain situations, there is a strategy where a borrower may benefit from putting down less than 20%, obtaining Private Mortgage Insurance (PMI), and subsequently removing it after closing to secure a more favorable rate. CALL ME 847-773-7344
MORTGAGE RATE VARIBLES…
• Credit scores
• Loan to value (home much you are putting down and borrowing)
• Type of loan you are looking for
• Loan size
• Type of property you are purchasing
• Type of documentation
• Primary or investment
• Refinancing including cash out
• Loan term
• Length of rate lock
• And more

01/11/2025

Things to think about when you’re trying to purchase in a competitive market….price, terms and an experienced Realtor are the most critical factors in making your offer stand out, especially in a competitive housing market. Here's how to leverage them effectively.
1. Price: Go Beyond Competitive
• Offer Strategically Above Asking Price: In competitive markets, homes often sell above the asking price. Conduct a comparative market analysis and offer a compelling price that reflects your interest and financial capability.
• Use an Escalation Clause: Agree to automatically increase your offer up to a set limit if higher bids come in.
• Show Financial Strength: If possible, make a cash offer or reduce your dependency on mortgage financing. Sellers perceive cash buyers as less risky.
2. Terms: Appeal to the Seller’s Priorities
• Fewer Contingencies: Minimize contingencies to reduce uncertainties for the seller. If you're comfortable with the property condition, consider waiving the inspection or appraisal contingencies.
• Flexible Closing Date: Tailor your timeline to align with the seller’s preferences, whether they need a fast close or extra time.
• Post-Close Possession: Offer the seller additional time to vacate the property (with a rent-back agreement if needed) to ease their transition.
How to Balance Price and Terms for Success
• Overask With Confidence: If the property is highly desirable, craft an offer that maximizes your budget while keeping terms seller-friendly.
• Appeal to Emotions Through Terms: Combine a strong price with thoughtful accommodations, like covering closing costs or assuming responsibility for minor repairs.
These strategies make it clear that you’re serious, prepared, and respectful of the seller’s priorities, positioning your offer as the most attractive option. Would you like specific templates or language to craft an offer?