Established in 2003 as a partner company to Town & Country Realty.
We originally started at the location in downtown Arlington Heights and in 2013 moved our office location to the corner of Arlington Heights Rd. and Algonquin.
Mike Blackhall is Town & Country Mortgage Services, Inc. president and top producer. Mike says his success is based on a simple philosophy of give people great price and great service, and you will always have customers and referrals.
Mike was raised in Morton Grove, a northern suburb of Chicago, and went to Maine East High School in Park Ridge. After high school he went to University of Illinois in Champaign where he earned a degree in Economics.
When asked what separates him from other mortgage brokers, Mike answers "the only way that I am able to sell mortgages is by knowing the product I am selling is the best available. So I continually strive to innovate by picking up new products and new lenders while keeping the costs down." Mike has grown Town & Country Mortgage Services from the ground up since 2003.
Prior to that he spent four years at RBC Mortgage where he was in the top 5% of all producers.
Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Give us a call, and we can help you determine exactly how much you can afford.
With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.
For most homeowners, the monthly mortgage payments include three separate parts:
There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. Town & Country Mortgage Services, Inc. can help you evaluate your choices and help you make the most appropriate decision.
The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply:
An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).
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Town & Country Mortgage Services, Inc. is an Illinois Residential Mortgage Licensee MB.6759601; IL Dept of Financial and Professional Regulations, Division of Banking, 100 West Randolph, 9th Fl, Chicago, IL 60601, IDFPR Phone Number (888) 473-4858, and NMLS #221739.