The Romo Report

The Mortgage Blog Of Alex Romo – 312-738-8430


StopWith the Holidays coming up, stores are rolling out the “savings” with “discounts” and “zero % credit cards”.

Reports show the Holiday discounts are coming sooner this year.

Right after Halloween!

Buyers, do not open new credit or increase your current debt until AFTER the closing. This can definitely put a wrench in purchasing a home and can easily disqualify you.

Banks are required to do a soft pull on credit the day before closing to make sure NOTHING has changed.

REALTORS***This is the best time to reach out to your clients who are either under contract or thinking of purchasing in the near future.

Although I say this to all my clients, there is always one client who cannot resist opening that Bestbuy credit card to purchase a new flat screen.

Call me with any questions!

Alex Romo -Home Loan Expert


Filed under: Mortgage Advice, , , , , , , , ,

Important Steps To Land The Best Mortgage

I spent some time talking to key real estate professionals this week and a common subject came up.  Buyers are not doing their homework when it comes to getting a mortgage.  Producing Realtors know that Big Banks are not always the best options for homebuyers.  With issues from inexperienced Loan Officers to lenders outsourcing Appraisals through AMC(Appraisal Management Companies), realtors and buyers soon realize they lose complete control of the loan process and are at the mercy of the Big Bank problem. We all know someone who has experienced this.

Buyers – get informed!

Deciding to purchase a home can be an exciting life changing event.  City or burbs? If you have you children or planing to have in the future, school districts come to mind.

dont forgetKey steps to remember:

1)Prepare for the increase in mortgage rates – especially if you’re not purchasing in the next couple months . Feds are tapering off the purchasing of bonds which will indeed have a direct effect on interest rates

2)Work with a Mortgage Professional to run your credit report/analyze your liabilities and assist in improving your score to obtain the best rate and program for your home loan

3)GET PRE-APPROVED!!!! – Even before you start looking for a house, you should get pre-approved for a mortgage. This will make you a stronger buyer, because sellers will know you have the financing in place to move forward. In addition, getting pre-approved for a mortgage amount “sets boundaries around what you can afford. Those boundaries dictate what your price range is,” said McBride – read more

For the best mortgage advice and program options in the market, call me today!


Filed under: Mortgage Advice, , , , , , , , , , , , , ,


Face it. We work with clients with less than perfect credit.  The majority of them seek FHA financing for this very reason. Don’t get left in the dark as FHA is changing!

New Rules Starting today!!

If you have Collections or are Disputing a creditor, this new rule will affect you obtaining a mortgage.

  • collections/judgements cumulative totalling $2,000 of more, they may have to be paid off or show proof of payment plans; which will affect qualifications debt-to-income ratio
  • Disputed accounts cumulative totaling $1,000 or more will require the loan to be downgraded as a Manul Underwite; which will affect qualifications

Call me today to discuss.


New Rules

Filed under: Mortgage Advice, , , , , , , , ,


Thank you for your service! Veteran owned, The Federal Savings Bank takes pride in helping our soldiers achieve the American dream of home ownership! NOBODY DOES IT BETTER THAN US!


Filed under: Housing Market, Mortgage Advice, , , , , , , , , , , , , , ,


Refinance Today! CLICK BELOW!

Start Saving today!

About Alex

Alex Romo is one the leaders in the mortgage lending industry. With over 10 years of experience, Alex has grown to be one of the top originating Loan Officers in the country. His extensive knowledge of today's programs and the ability to offer the best options for his clients has earned him a high level of respect with his Realtor partners.

Alex utilizes state-of-the-art client follow-up systems to provide superior service.

Alex specializes in referrals from past clients and works closely with Realtors in Chicago and the south and west suburbs where he has personal knowledge of the communities and neighborhoods.

The powerful combination of mortgage industry expertise, local market sensitivity, and top-notch customer service ensure a smooth transaction experience for clients and real estate professionals alike.

“My favorite part about my career is helping those who dream of homeownership achieve that goal,”

Expert in:
FHA Lending
First Time Home Buying
Credit Repair
Equity Repositioning
Jumbo Lending
Commercial Lending


Alexander Romo

Senior Vice President
The Federal Savings Bank
300 N. Elizabeth St 3E
Chicago, IL 60607
Office: 312-738-8430
Cell: 773-550-2539
Fax: 312-628-8311
NMLS# 217060


**Alex is one of the best loan officers I have worked with. He is very skilled and gets the job done. He is great with his clients and walks them through the process from start to finish. He is hard working and very responsive to all his deals he takes pride in his work. I would give Alex 5 stars give him a call you will not be disappointed
- Marlene B. Realtor

**When we found a home at the beginning of January 2014, due to some pressing situations, Alex was certain we could close at the end of the month. And we did!!!! He was actually ready to close a week earlier. His knowledge of the market and about upcoming rule changes to home financing were very helpful for us to decide to buy a home. I would certainly recommend him to anyone looking to finance a home
- Mallari and Robert

**Alex was very helpful during the entire process. He took the time out to explain every step of the loan process from start to finish. Every time that I had an issue Alex was always a phone call away, and he actually answered it. No voice mail, which gave my wife some piece of mind. He did a great job, and I would recommend him to anyone.
- Anthony P.

**Alex, it was truly a blessing having you to work with, thank u so much for everything and for explaining everything to me in my language.
- Charles R. Jr.

**I was looking for a home in the Chicago area and because of my current credit situation I looked to my father to apply for the loan instead of applying myself. My father was a preferred customer at Bank of America and according to our loan officer there, it was a sure deal that the loan would be approved. After a long period of time and very little communication the loan was declined with no immediate explanation. After that whole mess, I was in contact with Alex Romo, not only did he get an approval but he helped me get my credit in line and I was approved by myself. I highly recommend that anyone looking to get a home loan contact Alex. He knows the mortgage process inside and out.
- Eric H.

**Alex really does go above and beyond in helping you get the mortgage that is right for you and your family. He is knowledgeable and more importantly he takes the time to EXPLAIN the often times too wordy jargon that is mortgage language.
- Janie

**Alexander Romo takes the stress out of purchasing a home! Alexander took care of everything for my family while applying for a loan. Alexander was with us from start to finish! When purchasing a home, I highly recommend Alexander when looking for a great loan!
- Jason P.

**Alex has been a pleasure to work with on a number of legal transactions. His extensive knowledge, initiative, responsiveness, and hard work are only overshadowed by his honesty and integrity. I wouldn't hesitate to refer any of my clients to Alex for their borrowing needs!
- Attorney Jay R.

**Alex was very Helpful, and was the only person that was able to get me approved. many others tried but just couldn’t close the deal. Thanks Alex
- Juan A.

**My experience with Alex has been great. He is very quick and responsive and does a great job for his client.
- Margaret L.

**Alex really knows how to take care of his clients. From beginning to end, he was always available to answer questions. His knowledge of the housing market puts him at the top!
If you're in the market to purchase, Alex is your guy! I will recommend Alex to everybody I know
- Maria O.

**Alex is great with follow up and has tenacity to get you or your client the best rate and make the deal work for everyone.
- Phil B. Realtor

**Alex is very professional as a loan originator for The Federal Savings Bank. He follows up with his clients and attends all his closings. I would feel compfortable in recommending him to my follow colleagues.
- Sylvia R. Realtor

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