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Monday, September 29, 2008

House Says No

The House of Representatives voted no to the $700 billion dollar bank bail out plan. The stock market sank on the news. Mortgage rates remained in the low 6s for a purchase or refinance of a 1-4 unit property in Wisconsin. A solution will arrive but not today.

Friday, September 26, 2008

Debate

The candidate's for President will debate tonight after all. Although the credit crisis is not on the agenda the topic is sure to be discussed. Who do you think will win the debate?

Thursday, September 25, 2008

Mortgage Rates Rise

Mortgage rates have risen every day since Monday as lawmakers wrestle with the credit crisis bailout. Rates are still low and mortgages are readily available for borrowers with average or better credit. If your credit is not where it needs to be now is the time to improve it. If you have questions about your credit and how to improve it we can help and will not charge you a fee for the service. If your credit is good call and we will let you know what rates and terms are available. If you are unsure of your credit status our suggestion is that you find out immediately so you know what your options are.

Now is an excellent time to purchase a home. Trying to guess the bottom of the market as far as home values and interest rates is not possible. Work with a trusted advisor who will satisfy your needs.

Wednesday, September 24, 2008

We Close Mortgages

A lot of customers and people in general I have spoken with lately have some impressions of the current mortgage market. Many of the impressions are based on newspaper articles or TV news. The facts are it is not that difficult to get a mortgage if you work with an experienced professional and have average credit. The problem for many people is that they do not have equity and some have limited equity and poor credit. That is not a good combination for underwriting a mortgage. Many people I have spoken with feel you need 20% down to buy. You do not. Loans are available with 3% down. To get approved for a mortgage try to have savings in a retirement plan or bank account, have 12 months of timely rent or mortgage payments and no collections other than medical. It really is that simple.

People who bought at the top of the market in the last 1-4 years with little or nothing down have a hard time selling or refinancing because as appreciation has slowed they are unable to sell and pay a commission to a realtor. We are closing loans every day. The government is not going to knock on your door and help you. You need to help yourself.

Monday, September 22, 2008

Oil Prices and Mortgage Rates Increase

Oil prices climbed $25 a barrel Monday as investors worried about the government bank bail out plan. Mortgage rates also rose. Now a 30 year fixed rate mortgage is at 6.25% in Wisconsin for qualified borrowers. (apr 6.31%) Gas up your car today.

Friday, September 19, 2008

Do You Want $7500?

First time home buyers are now eligible for a $7500 tax credit. The credit is available for homes purchased on or after April 9th, 2008 and before July 1, 2009. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. The credit works like an interest free loan and is repaid on your taxes over a 15 year period. Take advantage of this program, low rates and a great inventory and buy your first home today!

Tuesday, September 16, 2008

Friday, September 12, 2008

Zero Money Down Is Available

We are offering two zero money down home loan programs for qualified borrowers looking to purchase a Wisconsin home. One program is for veterans called a VA loan. There is no monthly mortgage insurance and the loan allows you to get into a home with nothing down if the seller pays closing costs. Another program is also through the government and is called the USDA Rural Development Program. To see which program is best for you call me at 414-416-9194.

Tuesday, September 9, 2008

30 Year Fixed at 5.75%

A 3o year fixed rate mortgage is now available at 5.75%. Certain restrictions apply. To apply call 414-416-9194. APR 5.81%

Monday, September 8, 2008

Mortgage Rates Dip

Mortgage rates dipped Monday as news of the government take over of mortgage giants Fannie Mae and Freddie Mac was released. Investors grew confident that there may be an end to the mortgage and housing crisis that has enveloped the country since August 2007. Now is the time to refinance before the mood of the market swings again. Call to apply and lock your loans now. 414-416-9194

Friday, September 5, 2008

Unsure About Your Mortgage?

If you have an adjustable rate mortgage now and you are not sure when it will adjust or what your new payment will be we can help. In your closing documents from the title company is a document called the mortgage note. We can examine this and let you know what will happen. Will your payment go up, down or stay the same? We will explain it to you. Many people have 1,2,3 or 5 year adjustable rate loans. These loans are tied to different indexes and adjust in different ways. Find your mortgage note and call us. We will give you the facts. Free of charge!
414-416-9194

Wednesday, September 3, 2008

Rates in 6s

Milwaukee mortgage rates remain in the 6s for borrowers looking to purchase or refinance. If you are on an ARM it is time to lock into a fixed rate loan. If you are looking to purchase in the next 3 months it is time to meet with a loan officer and get pre-qualified. We would be happy to tailor a mortgage plan to suit your specific needs. Call 24/7 at 414-416-9194 to schedule your no obligation appointment,