Freddy The Mortgage Mechanic NMLS 2291390

Freddy The Mortgage Mechanic NMLS 2291390 VP of Mortgage Lending in IL, FL, WI & CO with Rate. themortgagemechanic.net
www.nmlsconsumeraccess.org
Guaranteed Rate is an Equal Opportunity Lender

Congratulations to my clients who decided to trade a little snow for a lot more sunshine! It was a pleasure helping you ...
06/03/2026

Congratulations to my clients who decided to trade a little snow for a lot more sunshine!

It was a pleasure helping you with your beautiful new home! Thank you for trusting me with your mortgage needs.

A huge congratulations to these first-time homebuyers on closing on an amazing home! They absolutely knocked it out of t...
06/01/2026

A huge congratulations to these first-time homebuyers on closing on an amazing home!

They absolutely knocked it out of the park with this one, and I couldn't be happier for them as they start this exciting new chapter. Thank you for trusting me to help with your mortgage financing and be part of the journey.

Wishing you years of great memories, happy moments, and plenty of enjoyment in your new home. Congratulations again!

Today we honor and remember the brave men and women who made the ultimate sacrifice for our country. Memorial Day is mor...
05/25/2026

Today we honor and remember the brave men and women who made the ultimate sacrifice for our country.

Memorial Day is more than the start of summer. It is a time to reflect on the courage, service, and sacrifice of those who gave their lives to protect our freedoms.

As we spend time with family and friends this weekend, let us also take a moment to remember the heroes who made those moments possible.

Wishing everyone a safe and meaningful Memorial Day.

More Everest Asian Fusion grand opening photos!!
05/17/2026

More Everest Asian Fusion grand opening photos!!

Chamber630 had an amazing time at Everest Asian fusion grand opening on Friday.The food was absolutely incredible and th...
05/17/2026

Chamber630 had an amazing time at Everest Asian fusion grand opening on Friday.

The food was absolutely incredible and the customer service was even better! We were treated to delicious sushi, hot pots, and hibachi style barbecue such a fantastic experience from start to finish!!

Thank you so much for your wonderful hospitality. We are so excited to have you as part of the Chamber630 community and look forward to supporting your success!

A wonderful night at the Good Samaritan Hospital 50 year Gala!Here’s to Another 50 years of excellent of healthcare for ...
05/17/2026

A wonderful night at the Good Samaritan Hospital 50 year Gala!
Here’s to Another 50 years of excellent of healthcare for the western suburbs!

If you have served our country, you may have access to one of the most powerful home financing options available 🇺🇸VA lo...
05/13/2026

If you have served our country, you may have access to one of the most powerful home financing options available 🇺🇸

VA loans offer incredible benefits for eligible veterans, active-duty service members, and military families, including:
• No down payment options
• Competitive interest rates
• Limited closing costs
• No private mortgage insurance (PMI)

Whether you are thinking about buying your first home, upgrading, or refinancing, understanding your VA loan benefits can make a huge difference.

If you have questions about the market or finding the right home, I would be happy to help connect you with the right resources.

Learn more here:
https://www.rate.com/va-loans?utm_source=rac&utm_medium=email&utm_campaign=gri-may-2026-topical-rps&utm_content=may-monthly-topical-rp-gri&utm_term=VA_CTA&loid=37398&adtrk=|email|rac|gri-may-2026-topical-rps|may-monthly-topical-rp-gri|VA_CTA|

HAPPY MOTHERS DAY TO ALL MOMS!!
05/10/2026

HAPPY MOTHERS DAY TO ALL MOMS!!

05/06/2026

📊 Weekly Market Update | Week of May 4, 2026

Here’s what’s happening in the market right now and what it means for buyers, sellers, and homeowners:

🏦 The Fed Hits Pause
Last week, the Federal Reserve held interest rates steady. While expected, the message was clear: no rate cuts just yet. Inflation is cooling, but not fast enough, and strong job growth and consumer spending are keeping pressure on the Fed to stay cautious. Rising oil prices are also playing a role since they can push inflation back up.

🌍 Markets Showing Caution
This week kicked off with more uncertainty. Geopolitical tensions are driving oil prices higher, which is nudging interest rates up and pulling stock futures down. The Fed is keeping a close eye on energy costs because sustained increases can slow growth while keeping inflation elevated.

📅 What to Watch This Week
Key reports are coming that could influence the direction of rates:
• ISM Services Index
• Job openings data
• Friday’s April jobs report

Why it matters: If the job market stays strong and inflation lingers, expect rates to remain higher for longer. If we start to see signs of cooling, it could open the door for rate relief later this year.

💡 Bottom Line: We are still in a wait and see environment, but these shifts can create opportunities depending on your goals.

Freddy Wenzel here, your Mortgage Mechanic with Rate.A question I get all the time is, are closing costs tax deductible?...
05/04/2026

Freddy Wenzel here, your Mortgage Mechanic with Rate.

A question I get all the time is, are closing costs tax deductible?

Let’s take a look under the hood.

The short answer is no, most closing costs are not tax deductible. But there are a few key exceptions that can help you at tax time.

Some of the items that may be deductible include
Mortgage points, which are essentially prepaid interest
Property taxes paid at closing
Mortgage insurance premiums in certain cases

Everything else, like title fees, lender fees, and inspections, typically will not give you an immediate tax break.

Here is something most people do not realize though. Even if certain closing costs are not deductible now, they can still benefit you later by reducing your taxable gain when you sell your home

The key is making sure everything is documented and working with a tax professional to maximize what you can take advantage of.

Bottom line, do not count on a big tax write off from closing costs, but know there are still ways they can work in your favor.

If you are thinking about buying and want a full breakdown of costs and how they impact you long term, I am here to help. Let’s make sure everything is dialed in before you hit the road to closing.

Address

1315 W. 22nd Street Suite 110
Oak Brook, IL
60523

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm
Saturday 9am - 6pm
Sunday 12pm - 4pm

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