You Do Not Need 20% Down to Buy Now!

You Do Not Need 20% Down to Buy Now!

A survey by Ipsos found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. There are two major misconceptions that we want to address today.

1. Down Payment

The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 40% of consumers think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less.

Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO® Scores 

The survey also revealed that 62% of respondents believe they need excellent credit to buy a home, with 43% thinking a “good credit score” is over 780. In actuality, the average FICO® scores of approved conventional and FHA mortgages are much lower.

The average conventional loan closed in February had a credit score of 752, while FHA mortgages closed with a score of 686. The average across all loans closed in February was 720. The chart below shows the distribution of FICO®Scores for all loans approved in February.

Bottom Line

If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but are not sure if you are ‘able’ to, let’s sit down to help you understand your true options.

Chicago's Free Events for January 2017

McCormick Tribune Ice Rink

November 18 - March 5 (weather permitting), Hours Vary

Millennium Park, 201 E. Randolph

Dame Myra Hess Concerts

Dame Myra Hess Memorial Concerts are produced by the International Music Foundation and feature solo and ensemble performances of classical music that showcase emerging performers. Held year round on Wednesdays. Enjoy one of the January concerts!

Karisa Chiu, violin and Inah Chiu, piano

January 4, 12:15pm

Chicago Cultural Center, Preston Bradley Hall, 78 E. Washington St.

Shuai Wang, piano

January 11, 12:15pm

Chicago Cultural Center, Preston Bradley Hall, 78 E. Washington St.

Jonathan Johnson, tenor and Craig Terry, piano

January 18, 12:15pm

Chicago Cultural Center, Preston Bradley Hall, 78 E. Washington St.

Daniel Hsu, piano

January 25, 12:15pm

Chicago Cultural Center, Preston Bradley Hall, 78 E. Washington St.

Jazz Links Jam Sessions

The Jazz Institute of Chicago created the Jazz Links Jam Sessions to provide an environment where student musicians can learn, grow, and connect with their jazz community in front of a live audience. Learn more about who can jam and who should attend the jam sessions!

Jazz Links Jam Sessions

January 11, 5:30-7:30pm

Chicago Cultural Center, Studio Theater, 1st Floor North, 78 E. Washington St.

WTTW Film Screening & Discussion - Youth Voice and Vision with Free Spirit Media

WTTW Film Screening & Discussion - Youth Voice and Vision with Free Spirit Media

January 21, 2-4:30pm

Chicago Cultural Center, Claudia Cassidy Theater, 2nd Floor North, 78 E. Washington St.

WTTW, in partnership with the Department of Cultural Affairs and Special Events presents a screening of two films produced with young adult media makers of Free Spirit PRO, a social enterprise of Free Spirit Media, in collaboration with Leadership Greater Chicago and The Peace Exchange. FREE and open to the public, followed by a discussion. Space is limited. RSVP at www.eventbrite.com.

Chicago International Puppet Theater Festival Neighborhood Tour

Chicago International Puppet Theater Festival Neighborhood Tour

January 21-28

The Festival Neighborhood Tour fosters an appreciation of puppetry in every corner of the city by presenting three Festival artists -- Schroeder Cherry, Interstate Arts and Magali Chouinard -- at six locations including the Chicago Cultural Center. These FREE events invite families to share a full day of activity, or to sample performances and drop in on workshops as they please.

Chinese New Year Kickoff Celebration

Chinese New Year Kickoff Celebration

January 30, 12-1pm

Chicago Cultural Center, Preston Bradley Hall, 78 E. Washington St.

Celebrating its 33rd year, the Chinese Fine Arts Society kicks off the Year of the Rooster with a festive display of Chinese dance, music and martial arts. Enjoy performances by some of Chicago's finest artists and, back by popular demand, a showcase by Jackie Chan's Long Yun Kung Fu Troupe from Beijing. For more information, visit chinesefinearts.org.

Shedd Aquarium

Shedd Aquarium

1200 S. Lake Shore Dr.

The Shedd Aquarium has special offers and Illinois Resident Discount Days throughout the year! See what best suits you and your family. Valid I.D. must be presented on site for all offers, unless otherwise specified. Upcoming Illinois Resident Discount Days: January 9, 10, 16, 17, 23, 24, 27, 28, 29, 30, 31.  

The DuSable Museum of African American History

The DuSable Museum of African American History

740 E. 56th St.

The DuSable Museum of African American History located in the historic Hyde Park area of Chicago at 740 East 56th Place (57th Street and South Cottage Grove Avenue) in Washington Park unites art, history and culture. Admission is FREE to all on each Tuesday of the year! 

Chicago Public Library

Since first opening our doors in 1873, Chicago Public Library has served all Chicagoans with free and open places to gather, learn, connect, read and be transformed. The libraries are that special third place-beyond home and work-where people come to improve their lives, nourish their intellect or savor entertainment. Their 80 locations host a variety of free events ranging from performances, arts and crafts, writing and poetry, continuing education and more. Here are a few stand-out events happening in January, but be sure to check out their full event calendar for programming at your local library!

Family Movie Fest

January 3, 5-7pm

Kelly, 6151 S. Normal Boulevard

Family, films, and fun are in store at your library this Winter Break! Get out of the house and enjoy some free entertainment at your library. Feel free to bring your own snacks. Movie will be suitable for all ages.

Opera On Tap Presents Operatic Book Club: In The Kitchen

January 24, 6-7:30pm

Harold Washington Library Center, 400 S. State St.

Opera on Tap Chicago presents its next installment of the Operatic Book Club recital series at the Harold Washington Library. This recital's theme centers around cookbooks and the comfort of the kitchen, and will feature local singers performing adaptations about Gertrude Stein and Julia Child. Part of the One Book, One Chicago program.

Theatre Y Presents a Play by Glen Berger

January 17, 6-7:30pm

Albany Park, 3401 W. Foster Ave.

Theatre Y moves it's stage to the library for An Impressive Presentation of Lovely Evidences: Underneath the Lintel by Glen Berger. The 70 minute long play is followed by a discussion with the actor.

Urban Yarns

January 10, 5-6:30pm

West Chicago Avenue, 4856 W. Chicago Ave.

Ever wanted to learn how to knit or crochet? Already a knitter or crocheter and want to meet other yarn lovers? Looking for a way to have fun and reduce your stress? Join us for our knitting and crochet group!

Night Out In The Parks

Presented by Mayor Rahm Emanuel, Night Out in the Parks brings over 1,000 cultural events to neighborhood parks each year. Chicagoans and visitors alike, enjoy the breadth of world-class events in every one of the city's 77 community areas. Here are a few programming highlights happening in January, but be sure to check out their website (or download the app!) for a full listing of events!

Winter Flower & Train Show at Lincoln Conservatory

Through January 8

Lincoln Park Conservatory, 2391 N. Stockton Dr.

The Lincoln Park Conservatory's Show House turns into a Winter Wonderland. Lanterns with golden-yellow lights and lighted evergreen trees invite visitors into Lincoln Park Conservatory's Winter Flower and Train Show this season. Several model trains travel amongst garden scale homes and businesses which are accentuated by festive plant arrangements. Admission is free
and the Conservatory is open daily from 9-5pm.

Holiday Flower Show at Garfield Conservatory

Through January 8

Garfield Park Conservatory, 300 N. Central Park Ave.

The Garfield Park Conservatory's Show House turns into "Sky Forest", evoking a walk through wintery woods and highlights the towering beauty of the Fraser fir tree. The Show House is transformed into a forest of more than 100 Frasier Fir trees! Admission is free and the Conservatory is open daily from 9am to 5pm and Wednesdays until 8pm.

Museum of Science and Industry

Museum of Science and Industry

5700 S. Lake Shore Dr.

The Museum of Science and Industry will offer free general admission for Illinois residents on Thursday, December 1. Don't miss your chance to check out their annual Christmas Around the World and Holidays of Light exhibit!

National Museum Of Puerto Rican Arts & Culture (Nmprac)

National Museum Of Puerto Rican Arts & Culture (Nmprac)

3015 W. Divison St.

NMPRAC features visual art exhibitions, hands-on community arts workshops, films in the park and an annual outdoor fine arts and crafts festival. Admission is free to all residents and visitors every day!

Art Institute of Chicago

Art Institute of Chicago

111 S. Michigan Ave.

Admission to the Art Institute of Chicago is free to Illinois residents every Thursday evening from 5-8pm. Additionally children under age 14 are always free and the public can enjoy the following museum areas free of charge: The Ryan Education Center in the Modern Wing, as well as all programs for families and children within the center, the North and South Gardens (accessible from Michigan Avenue), the Nichols Bridgeway and the Bluhm Family Terrace on the 3rd floor of the west pavilion of the Modern Wing are. In addition, The Art Institute participates in the Museums for All program which offers LINK and WIC cardholders free general admission to the museum. Present your card along with a valid photo ID to receive free access for you and your family.

Maxwell Street Market

Maxwell Street Market

Every Sunday, Year-round, 7am-3pm
South Loop, 800 S. Desplaines St.

The Maxwell Street Market is a Chicago tradition of bargains and bargaining with an international flavor. The market offers an eclectic mix of merchandise-from tools to tires, plus fresh produce, furniture, clothing, rare finds and collectibles-and some of the best Mexican and Latin street food in Chicago.

Juicebox

With engaging music and dance in a kid-friendly setting, the FREE admission Juicebox programs are geared toward the stroller set and enjoyable for the whole family. Children will experience a diverse range of artistic and educational presentations, with hosts regularly inviting youngsters to move, dance and interact with performers.

Four Star Brass Band

January 6, Chicago Cultural Center, Preston Bradley Hall, 78 E. Washington St.
January 7, Garfield Park Conservatory, Horticulture Hall, 300 N. Central Park Ave.

There ain’t no party like a Four Star Party. Experience the
excitement and share in the deep and joyous traditions of Louisiana as this professional Chicago-based, New Orleans-style brass band presents a sizzling show that will inform and delight all ages.

Jabberwocky Marionettes

January 20, Chicago Cultural Center, Claudia Cassidy Theater, 78 E. Washington St.

As part of the International Chicago Puppet Theater Festival, the Chicago-based Jabberwocky Marionettes will perform with original and expertly-crafted marionettes and puppets.

Chinese Folk and Classical Dance

January 21, Garfield Park Conservatory, Horticulture Hall, 300 N. Central Park Ave.

Families are invited to celebrate the Chinese New Year and discover the beauty of Chinese culture with the artistry of dancers Olinda Chang and Mei Xu. Experience China’s rich heritage through the elegance and grace of the Tang Dynasty ribbon dance, the aggressive martial art style of dance and the Mongolian style of dance celebrating the outdoors.

Decor: Pantone's 2017 Color of the Year

What is the PANTONE Color of the Year?

A symbolic color selection; a color snapshot of what we see taking place in our global culture that serves as an expression of a mood and an attitude.

GREENERY

PANTONE 15-0343

A refreshing and revitalizing shade, Greenery is symbolic of new beginnings.

Greenery is a fresh and zesty yellow-green shade that evokes the first days of spring when nature’s greens revive, restore and renew. Illustrative of flourishing foliage and the lushness of the great outdoors, the fortifying attributes of Greenery signals consumers to take a deep breath, oxygenate and reinvigorate.

Greenery is nature’s neutral. The more submerged people are in modern life, the greater their innate craving to immerse themselves in the physical beauty and inherent unity of the natural world. This shift is reflected by the proliferation of all things expressive of Greenery in daily lives through urban planning, architecture, lifestyle and design choices globally. A constant on the periphery, Greenery is now being pulled to the forefront - it is an omnipresent hue around the world.

A life-affirming shade, Greenery is also emblematic of the pursuit of personal passions and vitality.
GREENERY COLOR PAIRINGS 

Nature’s neutral, PANTONE Greenery is a versatile “trans-seasonal” shade that lends itself to many color combinations. As displayed in the 10 palettes below, Greenery is paired with neutrals, brights, deeper shades, pastels, metallics and even the enduring presence of PANTONE Color of the Year 2016, Rose Quartz and Serenity. These palettes easily cross over fashion, beauty, product and graphic design applications.
 

Chicago's Labor Day Lineup

SPECIAL EVENTS & FESTIVALS

Chicago Jazz Festival – FREE
September 1-4 For the 38th year, one of Chicago's oldest free lakefront music festivals will fall on Labor Day weekend. The festival kicks off with an afternoon full of live performances at the Chicago Cultural Center. This year has a handful of powerful acts headlining each night at Millennium Park: Orbert Davis' Soul Migration; Oliver Lake; Charlie Haden's Liberation Music Orchestra; The Bad Plus; and Candido's 95th Birthday Celebration featuring M.F. Production's Latin All Stars.

Chicago SummerDance – FREE
September 2-4
Celebrate one of the most expressive art forms practiced around the world right in Chicago's Grant Park. This summer long series features free dance lessons and different live bands all on an outdoor dance floor — the perfect excuse to let loose!

North Coast Music Festival
September 2-4
The best of the best will be performing in Union Park, bringing an eclectic mix of hip hop, indie rock, electronic, jam bands and more. The highly anticipated headliners include Odesza, Bassnectar and Zedd.

African Festival of the Arts
September 2-5
Every Labor Day weekend, Washington Park is transformed into a lively bazaar with handcrafted artwork, vibrant musical performances, children entertainment and activities, authentic cuisine and more.

Taste of Polonia
September 2-5
Jefferson Park hosts this celebration of all things Polish. Get ready for periogies, potato pancakes and blintzes galore! Come for the food, stay for the non-stop live music and cultural festivities.

Navy Pier Summer Fireworks – FREE
September 3
Don't miss the last chance to catch Navy Pier's spectacular fireworks this summer. The night sky lights up at 10:15 pm, but make it a whole day of fun — Navy Pier is home to 50 acres of scenic boardwalk boasting new restaurants, boat tours and attractions like the recently debuted Centennial Wheel.

Great American Lobster Fest 
September 2-3
Complete your Labor Day weekend with this seafood feast set right on the waterfront at Navy Pier. Dig into a whole lobster meal with the works, plus enjoy live music and family-friendly entertainment.

MUSEUM EXHIBITIONS

Amphibians and Stingray Touch
Shedd Aquarium
Explore the underwater wonders found in nature at this family-friendly favorite.

Brick by BrickMuseum of Science and Industry 
Lego blocks go big! See massive scale creations from the beloved colorful bricks.

China's First Emperor and His Terracotta Warriors
The Field Museum 
Come face to face with members of an army unearthed from the massive tomb in China.

Lincoln's Undying WordsChicago History Museum 
Be inspired, and challenged, by the words from the President's most significant speeches.

Zoom Room
Chicago Children's Museum 
Get lost in three floors of fun, including the ultimate toy car experience.

SPORTS & RECREATION  

Chicago Cubs Baseball
September 1-4
Head out to Wrigley Field as the Cubs face the San Francisco Giants for the weekend series.
Workouts in the Park - FREE

September 3
Challenge yourself at the final day of this fun outdoor series! Grab a spot on the Great Lawn of Pritzker Pavilion for early morning Tai Chi, Yoga, Pilates, or Zumba.

Chicago White Sox Baseball
September 5
On the South Side, catch the White Sox take on the Detroit Tigers at U.S. Cellular Field on Labor Day afternoon.

Maggie Daley Park - FREE
Located in Chicago's downtown Loop, Maggie Daley Park is the new hot spot for kids with a massive play garden, a rock-climbing wall, and a vast green space.

The 606 - FREEGo on an urban trek through Chicago neigborhoods on The 606, a 2.7 mile elevated trail that was once an abandoned railroad track. The paved path boasts innovative art installations and access to ground-level parks, and is a scenic way to explore beyond downtown. Bonus: the trail is bike-friendly!

Chicago's Lakefront Beaches - FREE
Ride the trail, lounge in the sand, swim in the water. The city of Chicago has a picturesque back-drop of Lake Michigan, providing 23 beaches and a 26-mile lakefront as well as 8,100 acres of green space and a wide variety of outdoor activities. 
FYI: Labor Day weekend is your last chance to enjoy the beaches this summer!

Chicago Air and Water Show Update

Returning the weekend of August 20th is one of Chicago's most exciting events, the Air and Water Show. North Avenue & Oak Street beaches will be seeing increased traffic throughout the weekend, especially in the early afternoon. You can tune in to WBBM radio (AM-780 and FM-105.9) for broadcast descriptions during the show.

For the full scoop, click here!

Evening on Astor

Only a Few Evening on Astor Tables Remain

Reserve your place now for "The World's Most Elegant Block Party"! Evening on Astor is just around the corner and will take place on Wednesday, September 7, 2016, from 5:30 p.m. to 8:30 p.m., on Astor Street between Goethe and Banks Streets. Over 1,000 people are expected to attend this 34th annual fundraiser for Gold Coast Neighbors Association. Dancing to the music of the Michael Lerich Orchestra; beer, wine, and soft drinks from the Lodge Management Group; a variety of cuisines from many food trucks; and socializing with friends, old and new, are offered in a gorgeous alfresco setting. 

Reserve your table online now at www.goldcoastneighbors.org But hurry! Tables are selling out quickly.

Sizes and prices of tables are:

Eight-top: $275 for GCNA members / $300 for nonmembers

Four-top: $175 for GCNA members / $200 for nonmembers

Tables are sold on a first-come, first-served basis. 

Admission is by wristband only. With a table purchase, you will receive eight wristbands per eight-top table purchase and four wristbands per four-top table purchase. Wristbands only can be purchased for $5 through the GCNA website or at the event. 

Note that there is no rain date for this event. To ensure everyone's safety, dogs, skateboards, and bicycles are not permitted.

Additional information is available at www.goldcoastneighbors.org or by calling 312.332.6122.

Ritchie Tower Newsletter - Summer 2016

SUMMER FESTIVALS 2016