Toys For Tots

Great Lakes Mortgage Corp. is holding our 2nd annual Toys for Tots drive. New, unwrapped toys can be dropped off at our Milwaukee or Delafield office to be given to needy children for the holidays. Help support this worthy cause. Bring joy to a child this season. Call for details. 414-416-9194

Federal Reserve To Meet December 11th

The Federal Reserve meets Dec. 11th to consider the future direction of interest rates. Although this does not directly affect first mortgage rates their decision will have an impact on Home Equity Lines of Credit, car loans, credit cards and other consumer loans. Mortgage rates are currently at historic lows.

Free Web Page For Homeowners

If you are selling your home on your own we may be able to help. We can offer a free web page, marketing materials and quality signs. We can also take digital photos of your home and prepare flyers. Call for details.

Free Pre-Qualification Letter

If you have your home listed and have not applied for a mortgage to purchase your new home give us a call and we will approve you quickly. You will be in a better bargaining position with financing assured. If you have applied somewhere else already call us for a second opinion. We will meet or beat anyone. Contact Loan Officer, Pete Cannon today at 414-416-9194 or 1-866-344-7800 x108 An Equal Housing Lender. We originate Wisconsin mortgages.

How Do Credit Scores Work?

Credit scores range from about 350 to 800. Lenders generally give the best terms to customers over 720 or 740. The number and type of accounts affect your score. If you are nearing the credit limit on your accounts your scores will be lower. Some accounts are better than others. For example an American Express account may be better from a credit scoring standpoint than an American General account. Length of time is also an important factor. Older established accounts have a more positive impact than newer accounts. Having an old Sears card from 1997 with a $2000 credit limit shows more history than a Capitol One card that was opened 6 months ago with a $500 limit. One way to improve your credit scores is to pay down your balance. Having the lender raise the credit limit can help as well. To receive a free copy of your credit report contact us at pc@glmcdirect.com.

Sellers Alert

Don't put your home on the market until you have read my special report. Avoid 11 mistakes that could cost you thousands of dollars. Email me for your free report.
pc@glmcdirect.com

Top 10 Ways To Save Money

The quicker you pay down your unsecured debts, like car loans and credit cards the sooner you can have extra money for savings or retirement. How can you save money?
Here are 10 suggestions.

1) Bring your lunch to work
2) Turn down your thermostat
3) Bike to work
4) Don't stop at the coffee shop
5) Clip coupons
6) Cancel or reduce your cable bill
7) Reduce your cell phone plan
8) Increase your insurance deductibles
9) Get a roomate
10) Set up internet bill pay; save stamps

Super Jumbo Pricing Now Available

Is your mortgage amount over $417,000? Call for special pricing. 414-416-9194

Prime Rate Now 7.5%

The prime lending rate was lowered to 7.5% which is good news for those shopping for Home Equity Lines of Credit or who currently have a line of credit tied to prime. This is the index that is used for many 2nd mortgages and lines of credit. It is not tied directly to 30 year fixed mortgage rates which move along with the 10 year bond. Actually mortgage rates increased late Tuesday and Wednesday but are still widely availale in the low 6s.