FAQ
Questions people actually text Arthur.
Grouped by what you’re probably wondering. If yours isn’t here, text it — that’s the whole point.
Working with Arthur
How do I reach Arthur Blachno?
Text or call 847-912-6580, or email [email protected]. His office is Fairway Home Mortgage’s Skokie branch at 5250 Old Orchard Rd, Suite 360, Skokie, IL 60077, at Old Orchard. Texting is fastest.
Is Arthur a loan officer or a branch manager?
Both. Arthur is the Branch Manager of Fairway Home Mortgage’s Skokie branch and a licensed Mortgage Loan Originator (NMLS #223052). He originates loans personally and is accountable for the branch that closes them.
Where is Arthur licensed?
Arthur is licensed in Illinois, Indiana, Wisconsin, Florida, Texas & California. Most of his clients are buying in Skokie, Evanston, the North Shore, and across the Chicago area, but he also closes loans for clients relocating to and from Indiana, Wisconsin, Florida, Texas and California.
Does it cost anything to talk to Arthur or get pre-approved?
No. Conversations and pre-approvals are free. Costs come at closing, and they’re itemized for you on a Loan Estimate before you commit to anything.
What do clients say about working with Arthur?
Arthur holds a 4.99-star average across 234 reviews on Zillow, plus a 5.0 rating on Google. The recurring themes: fast responses, honest advice, and closings that stay on schedule.
Money & down payments
How much do I need for a down payment?
As little as 3% on a conventional loan for qualified first-time buyers, 3.5% on FHA, and $0 on VA or USDA. Twenty percent avoids mortgage insurance but is not required.
Is there down payment assistance in Illinois?
Yes. IHDA offers forgivable, deferred and repayable second loans of roughly $6,000–$15,000 for qualified buyers within income and purchase-price limits. Arthur checks the current limits for your county and pairs the assistance with the right first mortgage.
Can family help with my down payment?
Yes. Gift funds from family are allowed on conventional, FHA and VA loans with a gift letter and a paper trail. Arthur walks your family through the two-minute documentation.
What credit score do I need?
FHA programs can work in the 580s; conventional typically starts around 620; jumbo usually wants 700+. Higher scores earn better pricing. If your score isn’t there yet, Arthur can tell you which levers move it fastest.
Why are Cook County property taxes such a big part of my payment?
Because effective rates here commonly run 2% of value or more — roughly double the national average. Exemptions help. Arthur pulls the actual tax bill for any address so your estimate reflects reality.
Timing & rates
How long does a mortgage take?
Pre-approval can be same-day. Most purchases close in about 30 days from contract; refinances often similar. Arthur’s branch has a strong on-time closing record because the file is structured right at the start.
Should I wait for rates to come down?
Nobody can time rates. If the home and the payment make sense today, buy it — if rates drop meaningfully later, refinancing is a phone call. Waiting has its own cost in rent and rising prices.
When should I lock my rate?
Usually once you’re under contract, with a lock period that comfortably covers your closing date. Arthur watches the market and tells you when locking makes sense for your timeline — in writing.
What’s the difference between rate and APR?
The rate sets your payment. The APR folds most lender fees into a yearly figure so two offers can be compared honestly. Compare APR to APR and Loan Estimate to Loan Estimate.
Have a question? Just ask Arthur.
No pressure, no jargon, no obligation — just a straight answer from someone who’s been doing this since 2005. Text, call, or apply whenever you’re ready.