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Eric Campbell
Mortgage Loan Officer
Joined: September 15th 2015
I love to help clients buy a new home, whether it's a first home purchase or a home for retirement. I also help clients refinance to lower their monthly payment, shorten the length of the loan, or consolidate debt. My job is not only to help close on the mortgage but offer a financial analysis to obtain the maximum benefit from the right mortgage product.
My Company
BBMC Mortgage
BBMC Mortgage, LLC (BBMC) is a full-service lending subsidiary offering a complete line of residential mortgage, refinancing, and specialty loans. We employ a knowledgeable staff of experienced mortgage bankers with an operations team that is second to none. By constantly updating our loan programs and pricing based on market patterns, BBMC Mortgage ensures that we deliver extremely competitive rates combined with optimal mortgage structuring.

BBMC Mortgage is a subsidiary of Bridgeview Bank. Since it was founded in 1971, Bridgeview Bank has established itself as a trusted resource and respected leader in the community banking industry. We pride ourselves on honesty and fair dealing, innovative products that are simple to understand, competitive rates, superior customer service, and involvement in the community.

By establishing BBMC Mortgage in the Chicagoland area, we are able to deliver our clients one of the most diverse and comprehensive loan product inventories available in the mortgage industry today.
My Activity
Eric Campbell answered a question
Answered 2 years ago
Is there a time frame on renting a house to someone before they buy it if they are getting an FHA Loan?
Anonymous User Asked:
We are selling our home. We allowed the buyers to rent the house from us until they could come up with the down payment they needed for the FHA Loan. They have the down payment, but are now being told that they have to rent the house for six... (more)
Eric Campbell Answered:
This is called identity of interest. To do the minimum down payment with FHA (3.5%) the borrower must live there for 6 months (documented). If the borrower has not lived in the home 6 months you can look to conventional financing with 5% down.

Eric Campbell answered a question
Answered 2 years ago
I wanted to know what the credit score requirement is for an FHA loan approval?
TAmmy Edgerson Asked:
I was just denied for an FHA and was advised that the LOWEST of the 3 credit scores reports are what is used to obtain approval for an FHA? and that my LOWEST score must be atleast a 640 is this true?
Eric Campbell Answered:
Most lenders go off the middle score between Experian, Transunion, and Equifax. I'm unaware of a lender going off the lower score unless you only have 2 scores. 620 is the minimum FHA score allowed at my bank.

Eric Campbell answered a question
Answered 2 years ago
Is it a bad idea to buy a brand new, 2015-built home that's pretty nice looking in a neighborhood that's not-so-great?
Anonymous User Asked:
There are several brand new homes being built on lots that previously had very run-down or decrepit houses. About half the block is nice, new construction and the other half is very low income families. Is this neighborhood more likely to continue to... (more)
Eric Campbell Answered:
The biggest issue might be the appraisal if your house is the nicest one in the area. Your concerns might be legitimate when it comes to refinancing or selling based on the other comparable homes that will be used to derive the appraised value in... (more)

Eric Campbell answered a question
Answered 2 years ago
Who does the title company work for?
Anonymous User Asked:
Does the title company work for the buyer, the seller, or is it just part of the process that make sure the real estate title is legitimate? Do they provide title insurance for the transaction?
Eric Campbell Answered:
The title company works for you! But you are correct, they are an unbiased third party to ensure the title is property conveyed through the purchase. They also ensure you are getting a clean title and insure your title from defects through the... (more)

Eric Campbell answered a question
Answered 2 years ago
Should I use a real estate agent?
Anonymous User Asked:
We're buying our first home and don't really want to pay anyone just yet. We've been driving around on the weekends and stopping at open houses while we decide whether we want to buy a house or keep renting.
Eric Campbell Answered:
Yes, use an agent. I refer a lot of agents to my clients. You definitely want representation plus a realtor is free for you to use as a buyer. Buyer's agents split their commission with the listing agent who is paid by the seller and built... (more)

Eric Campbell answered a question
Answered 2 years ago
Does the VA have any specific rules relating to owner occupancy of the property?
Anonymous User Asked:
I have never used my VA eligibility and want to purchase a home to rent out for positive cash flow. Before I go through the whole process, I wanted to make sure this would not be a problem.
Eric Campbell Answered:
Yes, in order to use a VA loan the home must be your primary residence and the documentation must reflect it (ie you work near where you are buying). Otherwise most investment property loans will require 20% down.

Eric Campbell answered a question
Answered 2 years ago
How do I know if I can get a loan?
Anonymous User Asked:
We've been shopping for a house and think we found something we can afford. Since we haven't been using a real estate agent, we don't have anyone to ask questions. I guess you can say we don't know what we're doing.
Eric Campbell Answered:
I recommend getting a loan pre-approval. A loan officer like myself can review your credit and income to determine if you are eligible. In general you would need to send in your last couple years of federal tax returns and w-2s, along with pay... (more)

Eric Campbell answered a question
Answered 2 years ago
How can I figure out if it's better to buy or rent a home?
Anonymous User Asked:
I've never owned a home and have been paying rent for about ten years. When I think about how much I've spent with nothing to show, it makes me think that I've made a big mistake. Aren't there low down payment programs to help people... (more)
Eric Campbell Answered:
I would compare your rent to the mortgage payment of a reasonable home to decide if a home is in your budget. Some loans like USDA and VA don't have a down payment requirement and typically a seller can pay all or some of your closing costs. ... (more)

Eric Campbell answered a question
Answered 2 years ago
What is the minimum credit score needed for an FHA loan?
Anonymous User Asked:
I’m trying to buy a home for the first time and haven’t paid much attention to my credit score. I heard that it might affect my eligibility or the loan rate.
Eric Campbell Answered:
Most investors/lenders require a score from 620-640 minimum. However, FHA technically doesn't have a min credit score requirement. As far as I'm aware, all investors/lenders have a min credit score guideline.

Eric Campbell answered a question
Answered 2 years ago
Can I qualify for a home loan if my income is from commissions?
Anonymous User Asked:
In my case, I have had two similar jobs in the past two years and both have paid me on commission. I have made approximately the same amount of monthly income from both jobs. I have not tried to prequalify for a loan yet.
Eric Campbell Answered:
In general you need a 2 year commission average at the same job. However, in some cases you can use commission with less than 2 years at the current job if the previous job had a similar commission structure with a similar client base. For... (more)

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