Milwaukee mortgage money is available. We have seen a rebound in the mortgage business which began in mid-December and continues. We hope the rest of the economy will also rebound but many signs point to that occurring in 2010 or perhaps a bit sooner. Mortgage rates have remained low for about 7 years. They are as low today as they have been since 1971. Many people have closed at 5% on a 30 year fixed with us. This is not often available but each week there is a window of opportunity when we can take advantage of market turmoil and short term pricing and lock this rate for our customers. Many people are doing FHA Loans but they do have a loan limit smaller than Jumbos which are currently at $417,000. The FHA loan limit is based on the county where your property is located. An advantage of FHA financing is higher loan to values and a more reasonable monthly mortgage insurance payments. The mortgage insurance companies, like MGIC and others have stopped insuring any loan over 85% Loan To Value. FHA allows around 97% financing depending on a number of factors.
Call a trusted mortgage advisor today to see what is best for you.
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