Tuesday, June 24, 2008

Queen's Cup

Friday night at 6p.m is the start of the Queens Cup race from Milwaukee to Grand Haven Michigan. This has been an annual event since 1938. Spectators can watch the start from the bluff at South Shore Park or by boat. Last year light winds prevailed. The overnight race is a Bay View tradition.

Wednesday, June 11, 2008

Mortgage News

Mortgages remain widely available and at good rates. To calculate your proposed payment figure every $50,000 financed is about $309 a month. The more you put down, the less you finance and the lower your payment. Another way to lower your payment is to do a 40 year term. It won't have much of a payment affect unless you have a large loan amount. For example $200,000 at 6.25% on a 30 year fixed mortgage is about $1233 a month. The same loan amount on a 40 year term at 6.375% is about $1153 a month. So a 40 year term would save you about $80 a month in this example.

You should strive to put down 20% on a purchase if you can but you can put as little as 3% down or even get a grant for the down payment. Call us to apply today.