Mortgage News

FHA mortgages are becoming more popular because of challenges in the sub-prime mortgage market. An FHA mortgage allows you to finance 97% of the purchase price of a 1-4 unit primary residence. We can set up a 3% grant for clients to use toward a downpayment. People with limited credit may qualify if they can show 3 on time trade lines over the last 12 months. These trade lines need not report to the 3 major credit bureaus. An example could be a rent payment, an insurance payment or a cable payment. FHA is a good program for a first time home buyer. The monthly mortgage insurance payment is reduced because a large share of it is financed in the loan. To see if you qualify or for any other real estate questions contact Loan Officer, Pete Cannon at Great Lakes Mortgage Corp. at 414-527-7800 x 108 or email at petecannon@glmcdirect.com Visit our web site at http://www.glmcdirect.com/ Not all will qualify. An Equal Housing Lender. We are licensed to originate loans in Wisconsin.