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Thursday, July 30, 2009

Free Daily Rate Lock Advisory Service

We now offer a free daily rate lock advisory. If you are in the market to purchase or refinance a Wisconsin home this information is guaranteed to save you thousands of dollars over the life of your loan. Click on the headline.

Friday, July 24, 2009

Mortgages Rates Volatile

Mortgage rates continue to be volatile and unpredictable. The best rates are for the shortest terms. A 10 year mortgage is available in the low 4s and a 30 year mortgage is available in the 5s.

Property condition on the sale is becoming increasingly scrutinized by lenders. If you are thinking of selling make sure your property shows well. Paint, remove clutter, have proper drainage with good grading, gutters and downspouts and fix any possible potential safety or code issue.

It does not matter whether the property you are purchasing or selling is $2 million or $50,000 the goal is to have a smooth sale and no issues. If you would like a free copy of our special report, "33 Ways To Sell Your Home Fast," ask for it.

Thursday, July 23, 2009

Mortgage Rates Spike

Mortgage rates popped up higher twice Thursday as the DOW climbed over 9000 and the National Association Of Realtors announced a June Home Sales increase of 3.6%. Lenders raised rates twice Thursday afternoon as hedgers thought for a minute the recession was over. This will change as more news filters through the markets. Ford reported earnings which was a bit unexpected.

OnMilwaukee.com Festival Guide: Great Downer Avenue Bike Race: July 25

OnMilwaukee.com Festival Guide: Great Downer Avenue Bike Race: July 25

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OnMilwaukee.com Festival Guide: Brady Street Festival, featuring Cheesefest: July 25

OnMilwaukee.com Festival Guide: Brady Street Festival, featuring Cheesefest: July 25

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June Home Sales Increase

June Home sales increased 3.6%, according to the National Association Of Realtors. The increase was a bit higher than expected. The DOW shot up more than 190 points to beak 9000 in mid-day trading Thursday.

Tuesday, July 21, 2009

Mortgage Rates Improve

Mortgage rates improved Tuesday afternoon. Part of the improvement was Fed Chairman's Bernanke comments that high unemployment may persist till 2012. Buyers and sellers of mortgage backed securities love bad news and hate inflation. Bernanke did indicate the recession may be ending soon. Weak employment and housing sales should keep inflation in check and make long term bonds-like mortgage backed securities- attractive to investors.

On Thursday the National Association Of Realtors reports June numbers.

Friday, July 17, 2009

Everything You Need To Know But Were Afraid To Ask

Here is everything you need to know about the new First Time Home Buyer Tax Credit but were afraid to ask. If you have not owned a home in the past three years you may be eligible. You can claim up to $8000 or 10% of the home's value, whichever is less. Any single family home or condo used as your primary residence is eligible. To receive the full benefit individuals must make less than $75,000 or $150,000 for couples. This is how it works. If your final tax liability for the year is $4000 you would pay nothing and receive $4000 back. If you are due for a $1000 refund, you would receive a $9000 check. The credit also applies to new home construction and townhomes. You must live in the home three years. Married couples with incomes up to $170,000 receive partial benefits.

We have a new web site with lots of Real Estate News.

http://www.wisconsinmortgages1.com

Tuesday, July 14, 2009

Bing and Chrome

Every day it seems there is some new technological thing. Bing, the search engine. Google Chrome. Twitter. Plaxo. Facebook. Texting. Blogs. Remember when we didn't even have a remote control on our TV and got four channels? You had to get up from the chair and actually change the channel! Now there are 100 channels and nothing is on! TV was free. How much is it now? $50 a month, $100? Remember dial phones? Before cordless. They were stuck to the wall. You rented them from the phone company. They were heavy. Remember when, Wal-Mart, where you buy them now, had one store in Arkansas?

Technology is changing quickly.

Are you up to speed?

Saturday, July 11, 2009

Run Away With Circus

This could be your opportunity of a lifetime. You can run away with the circus. The wagons are at Veterans Park at the Milwaukee lakefront along with elephants, kangaroos, ostriches,camels and assorted animals as well as classic brightly painted wooden wagons from the home of the Circus Museum in Baraboo. The parade is Sunday.

Thursday, July 9, 2009

Mortgage Rates Slide

Mortgage rates have slid two weeks now but started creeping higher this afternoon. Underwriting is still a more challenging process than ever with customers with high 700 scores and equity being pulled through the wringer. The best way to assure loan approval is to pay down your debt and/or increase your income. That is the key to financing the dream home you have your eye on.

If you do a conventional loan, in other words not a FHA or VA loan, in order to be eligible for mortgage insurance companies to buy the deal you must not have a debt ratio higher than 41% unless you are putting 20% down on a purchase. Divide your gross annual earnings by 12 to get your monthly gross. Divide your new mortgage payment, taxes, homeowners and any mortgage insurance into that monthly gross number. That is your back end debt ratio. The lower the better. And if its over 41% you need to do an FHA loan, find a cheaper house or add another borrower. BY the way, all your car payments, installment accounts, student loans and credit card minimums need to be factored in as well.

Wednesday, July 8, 2009

Short Term Rates Are Hot

A 10 year mortgage rate is available from us at just 4.5%. You will pay your house off so quickly you can live the lifestyle you always dreamed about. Imagine not having a mortgage payment!

Thursday, July 2, 2009

4.99% Rates?

We are offering a 4.99% mortgage rate on a 7/1 ARM. This means your rate is fixed for seven years. It is a 30 year mortgage term. If having a low payment is important to you and you do not expect to live in the house for more than six or seven years this could be your solution. The mortgage will adjust a maximum of two points or to 6.99% on the eight year. It also will adjust a maximum of two points on the ninth and 10th year. A 7/1 ARM is a great loan for people who have a seven year itch. Have you refiananced or moved in the last seven years? APR 5.07%