Chicago deal of the day: R+D659 offers 1.5 percent rate cut

A few Chicago developers are offering buyers finance programs, which are often contingent on securing a mortgage with a preferred lender who is somehow affiliated with the developer. Ultimately, it’s the interest rate that will be doing the talking for buyers. Mesirow Financial is offering buyers at its West Loop high-rise, R+D659, a 1.5 percent discount on whatever rate the affiliated National City Mortgage, is offering on a 30-year fixed-rate loan on the day of closing. Has anyone utilized a developer loan program recently to buy a home? Share your experiences with Yo.

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