Do Wisconsin No Money Down Mortgages Still Exist: FHA, VA and USDA Rural Housing
Updated Jun. 10, 2019
Truly there are only three programs that qualify for a no money down purchase and only two that don't require gift funds to obtain them.USDA Rural HousingFederal VA LoansFHA LoansWisconsin USDA Rural Housing Mortgage:Wisconsin USDA Rural Housing is one of the best programs that we offer. Unfortunately for...

Important Considerations for Chicago FHA loans
Updated Jun. 10, 2019
With the recent changes in the mortgage world, many people are trying to find a loan to meet their needs. The Chicago no money down and interest only options from just a few years ago have quickly drying up. However, the tried and true Chicago FHA home loan is still a viable option for many homeowners. Here is a list of...

Steps to Home Purchase in Wisconsin, Florida, Minnesota and Florida
Updated Jun. 10, 2019
Steps to Home Purchase in Wisconsin, Florida, Minnesota and Florida. Some people seem to think that buying a home is like buying a car. Simply call a loan officer, get a check, and buy the home. The entire home purchase process is slightly more complicated. Here is a list of general steps that are involved with any home...

Refinancing: An Equity Line or Not?
Updated Jun. 10, 2019
Refinancing: An Equity Line or Not?. Many people consider using the equity in their home when they get themselves in a financial crunch. Often, individuals will use the new loan to pay off credit cards, student loans, and possibly auto loans. In the last several years the Home Equity Line, also (HELOC) called a Line...

The FHA 203k Home Improvement Loan - Part 4
Updated Jun. 10, 2019
The FHA 203k Home Improvement Loan - Part 4. The FHA 203K program is a wonderful tool to help homeowners and potential buyers with home repair and remodeling projects. Over the course of the last few posts we have shown you some of the basic guidelines for these types of loans. We will conclude this series with...

Existing VA Home Loans Take Advantage of Lower Rates
Updated Jun. 10, 2019
Existing VA Home Loans Take Advantage of Lower Rates Many people are aware that the Veteran's Administration (VA) offers attractive financing terms for our veterans. However, many veterans do not know that they can take advantage of lower mortgage rates with relative ease.. The VA offers a program called the...

Preparing for a Mortgage Refinance
Updated Jun. 10, 2019
Preparing for a Mortgage Refinance in Wisconsin Illinois Minnesota Florida. With the record low mortgage rates making headlines on a regular basis, now is a good time to consider refinancing a home loan. Here are a few guidelines to consider when preparing for a refinance.. 1. Your Current RatioThe first thing to...

Reverse Mortgage - The Essential Information (Part 1)
Updated Jun. 10, 2019
Reverse Mortgage - The Essential Information (Part 1). In the troubled times currently facing the American economy, many people are looking for ways to cut expenses and increase their income. One method being used by senior citizens is the reverse mortgage. This unique type of home loan allows people to use one of...

Reverse Mortgage - The Payments (Part 2 of 4)
Updated Jun. 10, 2019
Reverse Mortgage - The Payments (Part 2). In the previous installment we explained some of the basic information concerning reverse mortgages. This article will present information on the payments for these types of mortgages and how it can be a real benefit to senior aged homeowners.. With a normal mortgage,...

Reverse Mortgage - Is It The Same as a Home Equity Loan? (Part 3 of 4)
Updated Jun. 10, 2019
Reverse Mortgage - Is It The Same as a Home Equity Loan? (Part 3). Many senior citizens are wavering back and forth between home equity loans and reverse mortgages. Each loan has merit and should be considered according to each person's needs and goals. This article will explain some of the main differences between...

Reverse Mortgage - Purchase Another Home (Part 4)
Updated Jun. 10, 2019
Reverse Mortgage - Purchase Another Home (Part 4). Senior citizens who have pondered the possibility of a reverse mortgage now have a new benefit to consider; the purchase of a second home.. The Federal Housing Administration (FHA) learned of statistics that showed the number of senior aged homeowners selling...

FHA 203k Streamline - The Best Way to Purchase Fixer Upper Homes
Updated Jun. 10, 2019
FHA 203k Streamline - The Best Way to Purchase Fixer Upper HomesBuying a home that is need of repair has always been a struggle. The lender wants the property to be in tip top shape before the loan can be finalized. The seller does not want to pay for repairs. But the buyer really wants the home and they can see the...

How to Get a VA Home Loan - Part 2: Getting your VA Certificate of Eligibility
Updated Jun. 10, 2019
Welcome to the second installment of our series on How to Get a VA Home Loan. Part 1 described the different groups of people that can apply for a VA home loan. Today we will discuss the VA Certificate of Eligibility.. In this modern day of countless choices and opportunities, the Veteran's Administration (VA) offers...

How to Get a VA Home Loan - Part 3: The VA Funding Fee
Updated Jun. 10, 2019
In the first two portions of this series we discussed the people that are eligible for a VA loan as well as how to acquire the Certificate of Eligibility. Today's article will describe the VA Funding Fee.. A common misconception is that the VA offers home loans. This is not true. The Veteran's Administration...

How to Get a VA Home Loan - Part 4: Choosing a Mortgage Loan Officer
Updated Jun. 10, 2019
So far in the series "How to Get a VA Home Loan" we have explained who is eligible for the loan, how to get a certificate of eligibility and the VA funding fee. Today's article will offer suggestions on choosing a mortgage loan officer. Veterans have numerous options for choosing a mortgage lender. These options fall...

FHA 203K is a Great Way to Refinance an Existing Loan to a Much Better Rate
Updated Jun. 10, 2019
Lots of information has been published on the internet and typical news outlets about the advantages of the FHA 203k loan. Without a doubt this is an excellent vehicle for buying an existing home and financing any needed repairs or improvements with one simple loan. However, the same type of loan can be used by...

The Positive Sides of a Reverse Mortgage
Updated Jun. 10, 2019
A lot of news outlets have discussed the pros and cons of the reverse mortgage. This is the only mortgage specifically designed for senior citizens, since applicants must be at least 62 years old. There are some precautions to consider for this loan that are quite different from other mortgages. However, a reverse...

Reverse Mortgage: Top 5 Things to Keep In Mind
Updated Jun. 10, 2019
Many senior citizens are looking to the equity in their home to either supplement their income in their golden years or to take care of some other expenses. Here is a list of the most important items to keep in mind when considering a reverse mortgage.. Eligible homes - Only owner occupied homes are eligible for a...

FHA Loans Have Grown in Usage Greatly: Here's 4 Advantages
Updated Jun. 10, 2019
Although the FHA mortgage has been around for over 70 years it was only recently that they became popular with home buyers. Thanks to a few changes, and increase in loan limits, the FHA loan has grown in usage greatly since 2005. There are quite a few benefits for buyers to using an FHA loan for a purchase or a refinance.....

FHA 203K Loan Makes it Possible to Choose Home Location Over Property Condition
Updated Jun. 10, 2019
Most people are familiar with the old saying about real estate; "there are only three things that matter about real estate 1. location 2. location and 3. location." People that want to live in areas with high home values, good schools and convenience to shopping often pay a premium for those homes. However, the FHA...