Good Morning and congrats on having your home almost paid in full; that's got to be a great feeling! The process is quite easy, give me a call at 262-696-9048 or visit http://www.CloseWithMichael.com/GetStarted - MC | We're a national direct mortgage lender and I head up the branch in Brookfield, WI
You would want to consider how much you plan to borrow. You can either do a cash out mortgage loan or a consumer line of credit or a consumer mortgage equity loan. The rates are usually lower on a mortgage loan, but you will pay a lot higher amount in closing costs. On a consumer loan the rate might be slightly higher or tied to prime rate and can adjust but you would have little to no closing costs. If you are looking at a smaller loan amount with a quicker payoff the consumer loan may be best. A larger loan size with a longer payback period may be worth paying higher closing costs to obtain a lower locked in fixed rate.Yvette Jenkins - NMLS 455918 - yjenkins@johnsonbank.comjohnsonbankmortgage.com/yjenkins
Wow we don't see a lot of clients at the end of their mortgage payments. However, that is the goal!You have several options for a home improvement loan. Certainly don't have to wait until the house is paid off to start the repairs. You can apply today!I'm a lender in Green Bay and would be happy to assist!(920) 391-4234 - call or go online.
You will have several excellent loan options we can discuss. I will be in the office all day, feel free to contact me!WI: 715-656-3520
With an open ended home equity line of credit you will most likely have an adjustable loan that will be based on prime plus a margin and will adjust as prime adjusts. As you pay down the balance that amount becomes available to you again. You can also treat it almost like a bank account, make your payroll deposits in there, pay all of your bills on a credit card, then pay off that credit each month with the line of credit. You will want to shop around for the best terms. I find that credit unions and banks have some of the best terms when it comes to lines of credit. If you want fixed use a mortgage lender. Best wishes, Sean
I would suggest contact several different local lenders to go over your available options and compare the rates they are able to offer.
You don't have to wait till October. you can apply now.. the only concern would be that the property has to pass an appraisal inspection and is required to conform to minimum property standards.. so if the house is in major disrepair, then it's unlikely you home will pass.. if however the property is just outdated, and you want to remodel, then it shouldn't be a problem.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Easy, simply apply with a lender. They will take your application. Review your situation, and let you know what you qualify for. Lending in WI, MN, and SD. www.wi-mortgagebroker.com
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