How do Mortgage interest and principal work?

A mortgage is a long-term bank loan that allows people to buy houses and property. In order to turn profit, banks add interest on top of the principal loan payments. The real cost of a mortgage depends on your downpayment, the principal loan, the interest rate, your...
What to look for when buying a condo

What to look for when buying a condo

There are many special considerations when buying a condo. Since condos make up a large part of the real estate menu in Chicagoland, it’s wise to understand what makes them different from single family homes. One key difference is the existence of condo associations...