We are your local Wisconsin and Illinois mortgage banker, including Chicago, Milwaukee and Madison.

We offer first time home buyer, jumbo VA loans, home possible, 80/10, cash out refinance, FHA 203k rehab loans, reverse mortgages, FHA  $100 down, jumbo loans,  no money down, refinance, 100% financing, interest only, investment, my community mortgage, FHA mortgage, FHA Streamline, VA loans, VA IRRRL and USDA rural housing loans.

 


Last modified: 12/14/09
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Blog: Brian Collins
Blog: Dennis Hardy
Blog: Dennis Hardy
wisconsin mortgage illinois mortgage   Mortgage Programs, Articles, Announcements and RSS  
First Time Home Buyer FHA Streamline Refinance
100% Financing No Money Down Refinance
FHA Mortgage Loans Cash Out Refinance
Rural Housing VA Streamline Refinance (IRRRL)
Jumbo Mortgage Loans Less Than Perfect Credit
VA Mortgage Loans Lender Paid Mortgage Insurance
Jumbo VA Loans 80/10 Loans
My Community Mortgage: 97% Freddie Mac Home Possible
Government Mortgage Loans Interest Only Loans
Debt Consolidation Loans 40 Year Home Mortgage Loan
Fannie Mae Refinance Plus to 125% Non Owner/Investment Property
Conventional Financing: up to 95% Combo Interest Only Loans
FHA 203K Rehab Loans Reverse Mortgage
What not to do after you apply for a mortgage
Effective 2/01/2010 FHA Condo Updates Effective 2/1/2010 (on our blog)
11/16/2009 Fannie Mae announces 2010 conforming loan limit
Announcement November 2009: Tax Credit Extended to 2010 (on our blog)
    2009 $8,000 Tax Credit for First Time Home Buyers
    2008 $7,500 Tax Credit for First Time Home Buyers
Effective 11/18/2009 FHA Streamline Refinance Changes
Effective 09/21/2009 Fannie Mae Refinance Plus Program to 125%
    Fannie Mae Refinance Plus Program to 105%
Effective 07/30/2009 Mortgage Disclosure Improvement Act (MDIA)
Effective 05/04/2009 New Conventional Appraiser Code of Conduct
Effective 04/02/2009 FHA 95% Cash Out Refinance Loans are Going Away
Effective 04/01/2009 FHA adding the market conditions addendum
Updated 03/03/2009 HUD announces updated 2009 FHA home loan limits
UPDATED 12/14/2009 Current FHA underwriting turn time is 4 Days
    Conventional underwriting turn time is currently 4 days
Effective January 1, 2009
    Revised FHA Down payment and Maximum Mortgage Requirements
Update September 2, 2008 Down Payment Assistance could be back
Effective October 1, 2008 No money down FHA loans are going away!
    FHA mortgage insurance premiums change | View prior premiums
Steps you can take to ensure a smooth Wisconsin Illinois home purchase
Free credit reports are now available to all Wisconsin Illinois residents
11/15/2008 Veterans' Benefits Improvement Act of 2008
05/05/2009 2009 income limits for Rural Housing are released
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Mortgage articles for Wisconsin and Illinois Residents
Additional mortgage programs

 
Government: FHA, VA and Rural Housing Loans  
  We can help you with Government Financing!
If you are a first time home buyer, if you are looking to make a low or no down payment or if you are a veteran, the government may be able to help you with a purchase or refinance! Check out these great Wisconsin and Illinois mortgage programs:


State and Federal VA Mortgage Loans
VA purchase and refinance home loans are loans insured by the Department of Veterans Affairs. No down payment is required (Federal VA loans only), but home buyers have to be qualified veterans of military service.
Additional Federal VA mortgage program information

FHA Mortgage Loans
FHA purchase and FHA refinance loans are loans insured by the Department of Housing and Urban Development (HUD). They are available to all qualified home buyers, but are subject to maximum mortgage limits for each county. FHA loans offer low down payment options, flexibility and charge less for mortgage insurance premiums (MIP) compared to a conventional loan.
Additional FHA program information.


Rural Housing Single Family Guaranteed Mortgage Loans
The Guaranteed Rural Housing (USDA) loan program provides moderate income families with access to affordable residential home ownership in eligible rural areas. We provide Wisconsin and Illinois USDA home loans for purchase financing requiring no down payment and can finance loan closing costs and repairs up to the property's appraised value. Additional Rural Housing program information
 
  Refinance, Cash Out Refinance and Debt Consolidation  
    Refinance, Cash Out Refinance and Debt Consolidation Information
Are you looking to refinance your mortgage into a lower rate? Do you have unpaid credit cards, delinquent real estate taxes or are you looking to get some much needed cash? Well, look no further, We can help you lower your rate or payoff unwanted debt using the equity in your home.
additional refinance information...

Call or Apply Online today for a complete refinance assessment.
 
  Latest Posts on our Blog  
   

Today's Current Illinois and Wisconsin Mortgage Rates
December 14, 2009

Current Illinois and Wisconsin mortgage rates daily on our website and our blog. Rates are updated between 9:00 AM and 10:00 AM CST Monday through Friday and are effective from the time published until 5:00 PM CST.

We quote conventional rates, jumbo, ARMs, rural housing, VA and FHA mortgage rates for all of Wisconsin and Illinois including major cities such as Chicago, Milwaukee and Madison.

How to shop mortgage rates

Mortgage rates trend for Illinois and Wisconsin as of 12/14/2009: Steady

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Monroe: Travel Wisconsin Series by Brian Collins
December 5, 2009

Good Evening folks. I am starting a new series tonight which I will be filing under Travel Wisconsin. I am very excited about this and hope you are too. If you didn't know, and a lot of you do, I was born and raised a Florida boy until late in 2008 when I moved to Wisconsin. Most family and friends in Florida thought I was pretty nuts for moving up north in the frozen tundra, but I have got to say, there is no place like Wisconsin.

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Appleton FHA Loans
December 5, 2009

Appleton FHA mortgage loan requirements are standards that allow first time home buyers the opportunities to meet mortgage qualifications.

FHA home loans are easier to qualify for than conventional loans. FHA rules impose limits on some of the fees that mortgage companies may charge in making a loan. Whether you're a first time home buyer, moving to a new home or want to refinance your existing conventional or FHA mortgage, the Appleton FHA loan program will let you purchase a home with a low down payment and flexible guidelines.

Visit our website for other no money down loans in Appleton, DePere, Green Bay, Menasha, Neenah, Oshkosh and Fox Cities, including VA and Rural Housing home loans at http://www.madisonmortgageguys.com

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VA Mortgage Loans with No Money Down
December 3, 2009

Wisconsin VA loans and Illinois VA mortgage loans are guaranteed by the Department of Veterans Affairs and are available to veterans and those currently serving in the military. They are often made with little or no down payment.

VA loans are available either as a fixed or adjustable rate and have recently added the option of a 3 year or 5 year ARM. VA loans are assumable, meaning that veterans can sell their homes to non-veterans and afford the buyer the benefits of a VA loan. The VA program is great for veterans who want to purchase a Wisconsin or Illinois property, especially if the veteran is a first time buyer.

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Wisconsin Mortgage Rates Lower Again: Is It Time To Refinance?
November 29, 2009

After a long holiday weekend it will be interesting to see what the market brings us come Monday. Last week brought us the lowest Madison mortgage rates for the fourth time this year. A conventional 30 year fixed was at 4.75%, while the FHA 30 year fixed was at a historic low of 5%. Now you may have seen rates advertised lower but these rates are without any origination fees or points. Visit our rates page for daily updates of current Wisconsin mortgage rates.

Refinance loans are also available in major Wisconsin cities including Appleton, Fitchburg, Stoughton, Sun Prairie, Racine, Wausau, Green Bay, Milwaukee and Madison.

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No Money Down Mortgage
November 22, 2009

If you want a home mortgage loan, and want to see if it's possible to get a no money down mortgage loan, our professional and knowledgeable staff can help guide you through the decision making process, and educate you about your options for a Chicago or any city in Illinois no money down mortgage loan.

Your Illinois and Wisconsin no money down mortgage broker. Contact us for questions or additional information.

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First Time Home Buyer Programs
November 15, 2009

As Chicago first time home buyers, we recognize the sacrifices you make in an effort to save enough money to not only make a down payment on a home, but meet the total amount necessary to actually close on your desired home loan. For instance, the largest hurdle most first time home buyers in Chicago face is saving the funds necessary for a down payment.

Did you know that nearly every state has a program to help first time home buyers with the down payment.

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VA Streamline Mortgage loans: Wisconsin and Illinois
November 11, 2009

If you are a Veteran, with an existing VA Guaranteed Mortgage, you are entitled to an additional benefit from The Department of Veteran Affairs when it comes to refinancing.

This program is called a VA Interest Rate Reduction Refinance Loan or IRRRL (VA Streamline Refinance). Under this program, you can refinance your existing VA mortgage loan without having to re-qualify or have a new appraisal done. In fact, the full credit report is replaced by a mortgage only credit report or a verification of payment history from your current lender for qualification purposes. This report shows only your mortgage payment history and none of your other credit or credit scores.

Benefits of a VA Mortgage

Jumbo VA Mortgage Information

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Chicago VA Mortgage loans
October 20, 2009

Because of the funding fee, Chicago VA mortgage loans do not require monthly mortgage insurance, keeping your monthly payment lower. The main purpose of the Illinois VA home loan program is to help veterans finance the purchase of homes with favorable loan terms and at a rate of interest which is competitive with the rate charged on other type of mortgage loans.

The more you know about our Illinois VA mortgage loan programs, the more you will realize how little "red tape" there really is in getting a VA mortgage loan. VA mortgage loans are usually comparable to regular mortgages only you save much more since they don't require money down. VA mortgage loans are also assumable or can be "taken over" by other eligible veterans.

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USDA Rural Housing in Wisconsin: No Money Down
September 3, 2009

Today I thought I would address some questions that I hear a number of times each week. ”What is the Rural Housing program?” and “Do I have to buy a farm house?” Wisconsin's USDA Rural Housing program is about helping people purchase a home in any of the smaller communities throughout the state.

We will be discussing the Guaranteed Rural Housing program. The Guaranteed program is for low to moderate income applicants to purchase a primary residence in a “rural” area of the state. These mortgages are processed, underwritten and serviced by a bank or lender with certain “guarantees” from the USDA.

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Jumbo Loans (Non Conforming)
October 11, 2008

Jumbo loans in Illinois and Wisconsin come in all shapes and sizes, however unlike conforming mortgages, the overwhelming majority of jumbo mortgages are Adjustable Rate Mortgages, or ARM loans.

No money down jumbo programs are generally not available, but instead require a minimum of 5-10% down payment for a Wisconsin or Illinois jumbo purchase or refinance mortgage including Chicago, Madison and Milwaukee.

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