Mortgage Rates At 5.5%

We are offering a 10 year fixed mortgage at 5.5% for the month of July. Borrowers must be able to document income, credit and have 20% or more equity in the Wisconsin owner occupied home. We are offering this mortgage with no points and an APR of 5.61%. Apply by calling 414-416-9194.

Government Mortgages More Popular

Government mortgages like Federal Housing Administrations Loans, Veteran loans, USDA loans and WHEDA Loans have become more popular for buyers as underwriting has tightened. FHA loans allow the buyer to finance 97% of the purchase price and also allow for gift funds, down payment grants and closing costs credits. FHA loans began in 1934. The USDA loan is a 100% financing product. Buyers need to be below certain income levels to qualify and generally live in a community with limited population. WHEDA is a state program that also allows 100% financing and offers money and grants for improvements in some cases. WHEDA has the strictest underwriting of the programs. Veterans can apply for a VA loan and finance 100% of their purchase if they qualify. To learn more about these great government programs contact Pete Cannon at Great Lakes Mortgage at 414-416-9194.

Weekend Fun

Every Summer weekend in Milwaukee it seems as if their is another Festival. There is always plenty to see and do. This weekend is no exception. Bastille Days opened last night at Cathedral Square Downtown. South Shore Frolics is now open with 3 nights of Fireworks, an art fair, parade and live music. Mequon is hosting an event called the Gathering on The Green. The new Harley museum opens Saturday complete with 2 restaurants and much more. An Art Fair, formally held at St Johns Military in Delafield will be at Nagawaukee Park on Lake Nagawicka in Delafield. And the Brewers are in town playing the Cincinnati Reds. This is just a sampling. There are many more area events. Have fun this weekend!

How To Buy A Home

If you are thinking of buying a home and don't know where to start you can contact a good realtor to help you. Do you want a newer house with less maintenance or a more traditional classic home? How far do you want to be from work? Will you stay at your current job? How about schools, crime, neighborhood? All of these are important. Make a list. Write down want you want and what you need. Is a finished basement important, a sun room, den or library? One or two story, large lot or small. Garage? City or Suburb? Condo?There are many choices. Make a list, work with professionals and you will be living in your dream home soon.

You can look for homes on the Internet and see dimensions and pictures but you really need to go inside and look at the area and the interior to know if it is good for you or not. Some people look at 10 homes, others 25. When you find the home you like make a strong offer and you will not regret it. When you find the one you like you will submit a written offer indicating what you will pay, and at what rate, when you will close and how much earnest money you will provide to show the seller you are serious. A closing is commonly 30 days after the offer is submitted or accepted but can be sooner or later. You may want to hire a home inspector soon after acceptance to check the mechanicals of the home. Talk to your realtor, lender and attorney with any questions you may have.

Mortgage Rates Improve Before Holiday

It may be time to add one more item to your holiday to do list. Apply for a refinance or purchase with me at Great Lakes Mortgage since rates have slid slightly the last few days. We are open 24/7 on line and can reached at 414-416-9194 to set an appointment at your convenience. Let us know what works best for you.