FHA Mortgages Available

An FHA mortgage is a great product for a first time homebuyer to buy with as little as 3% down.
Generally, the term is a 30 year fixed loan and the rates lately are below 7%. An advantage of an FHA loan is the approval guidelines are easier than a traditional conforming loan. Another advantage is that you can do a streamline refinance in the future with limited documentation as long as you have a good payment history.

The monthly mortgage insurance that you pay because you are putting less than 20% down is less than it would be on a monthly basis with a conforming loan. The reason for this is because most of the mortgage insurance is financed up front in the loan amount which allows you to pay less monthly.

For the downpayment of 3% gift funds may be used. The loans require an escrow account which simply means the property taxes and homeowners insurance are paid monthly with your mortgage payment so you never have to worry about coming up with a tax payment at the end of the year.

Great Lakes Mortgage News

Great Lakes Mortgage Corp. now has four Milwaukee area offices to serve you. Delafield, Bay View, Kenosha, and on the west side of Milwaukee. There now is more reason than ever to meet with Loan Officer Pete Cannon and start saving more money for retirement.

Prime Rate Lower?

Market watchers are awaiting the conclusion of a two day Federal reserve meeting this week. Experts say there is a good chance that the rate that banks charge each other for overnight loans may be reduced which in turn would lower the prime rate. The prime rate is currently at 7.75%.
Home Equity Lines of Credits, credit cards, and other consumer loans are tied to this benchmark. A 30 year fixed mortgage rate moves more in tandem with the 10 year bond rate. What does it all mean? Stay tuned. Currently mortgage rates remain near historic lows, however rates on lines of credit are not as favorable as some years ago.

Rates Improve

A 30 year fixed mortgage rate was available today at 6.125%. This offer is for owner occupied single-family residences in the state of Wisconsin. Good credit and equity are required to obtain this rate. Generally, this rate is available for a purchase or refinance in the next 20 days up to 80% loan to value. This rate is only available by contacting Loan Officer Pete Cannon at 414-527-7800 x 108 Not all will qualify. An Equal Housing Lender.

Home Buyers Handbook Available

If you are thinking of purchasing property in the next 12 months you owe it to yourself to call or email for your free copy of our homebuyers handbook. You will save thousands of dollars with the knowledge you will gain from reading this book. Contact me at pc@glmcdirect.com or call 4141-416-9194 today to reserve a copy. They are going fast!

Free Home Search

http://www.wihomes.com

Home Values Increase in Milwaukee

Home sale prices increased again in Milwaukee County from an average of $182,987 to
$192,876 over the past 9 months, according to a recent report. Milwaukee Countyvalues are a hotspot in the southeastern Wisconsin market. Waukesha County home values eased about 2% over the same 9 month period.

Zero Money Down Home Loans Available

Zero Money Down Home Loans are available for buyers in Wisconsin who qualify. Many investors we work with have loan programs which will allow you to own your own home with little or no money out of pocket. Often times when you purchase a home with less than 20% down you pay mortgage insurance. However, we now have loan programs where your monthly mortgage insurance payment is less than you may think. It is usually a good idea to put some money down like 3-5% of the purchase price however in many cases it is not necessary.

33 Ways To Sell Your Home Fast

Thinking of putting your home on the market?Read this valuable book. Call or email for your free copy today. 414-416-9194 pc@glmcdirect.com

Homebuyers Handbook

Looking to buy a home? We offer a free Homebuyers Handbook to assist you. Email today for your free copy. pc@glmcdirect.com

Home Values Double

The average US home doubled in value over the 17 years from 1980-1997, then doubled again in the 10 years from 1997-2007, according to the Office of Federal Housing Enterprise Oversight.