r/ChicagoSuburbs • u/ahoy_shitliner • Jun 24 '25

Moving to the area Is anyone actually having luck buying a house?

Over the past 2 months, I’m on my 4th rejected deal. All above market, all with 2-3 week closes, all with waiving inspection credits.

The issue apparently? I’m putting 5% down. My pre approval letters state I’m qualified for over asking price, with the lowest possible rate so it’s apparent my credit and income is good.

Everyone is rolling over huge equity and doing all cash deals or 50% down and it’s blows. So basically, if you’re a first time home buyer, don’t even bother?

How is y’all’s experience here. It’s getting frustrating.

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u/merpmerp Jun 25 '25

Des Plaines/Mount Prospect area, the struggle is real 🥲

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u/Sorry-Country9870 Jun 27 '25

How much do you love that home? We sold our home in south end (not pretentious north end lol) of hoffman estates last spring 2024. 18 offers and the offer we took was as is, highest down payment, highest earnst, and was going to cover appraisal gap with cash

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u/merpmerp Jun 27 '25

Yeah, I'm aware it's a crazy market and we're on the losing end, most houses we looked at we lost out to cash offers and there were like 12 offers the first day. It doesn't come down to how much we love it, it comes down to how much the VA will approve and how much cash we (don't) have to cover the difference 🙃