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Today's Current Illinois Wisconsin Minnesota Florida Mortgage
Rates
September 02, 2010
Current Illinois, Minnesota, Florida 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 30, 20, 15 and 10 year fixed rates,
jumbo, ARMs, Rural Housing, VA, FHA mortgage rates and FHA
203k for all of Wisconsin, Illinois, Minnesota and Florida
including major cities such as Chicago, Streamwood, Waukegan,
Carol Stream, Mount Prospect, Minneapolis,
Sun Prairie, Stoughton, Milwaukee, Appleton FHA loans rates,
Waukesha, Brookfield and Madison.
How to shop mortgage rates
Mortgage rates trend for Illinois and Wisconsin as of
09/02/2010:
Steady
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How to Get a VA Home Loan – Part 1: Who is Eligible?
August 30, 2010
We are starting a 5 part series that will explain the
basics of a VA home loan in Wisconsin, Minnesota,
Illinois and Florida. This first installment will
explain who is eligible for a VA home mortgage loan.
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FHA 203k Streamline – The Best Way to Purchase Fixer Upper
Homes
August 24, 2010
Buying a home that is need of repair has always been a struggle.
The lender wants the property to be in tip top shape before
the loan can be finalized. The seller does not want to pay
for repairs. But the buyer really wants the home and they
can see the potential value with a little bit of work. What
is a person to do? The FHA 203k loan is made for this exact
type of scenario.
We offer FHA 203k loans in Wisconsin, Illinois, Minnesota
and Florida.
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How the Interest Rate Affects Your Purchase Price
August 18, 2010
A lot of the financial news is focusing on the low mortgage
rates and how this can benefit first time home buyers. People
with 18 financial degrees, multiple letters popping up after
their name and lots of experience are constantly barking
about how this is a great time to buy a home. But nobody
takes the time to explain why this is so good. Here is a
little math lesson that will hopefully shed some light on
the subject.
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FHA Mortgage Insurance Premiums to Change October 4, 2010
August 10, 2010
FHA announced recently that it will be changing the upfront
(UFMIP) and monthly FHA mortgage insurance premiums effective
with case numbers assigned on or after September 7, 2010.
Today, the date has been pushed back to October 4, 2010
with this
statement from Assistant
Secretary Vicki Bott. Below is an excerpt of
the original announcement from the
Desk of David H. Stevens:
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Reverse Mortgage – Purchase Another Home (Part 4 of 4)
August 6, 2010
Senior citizens who have pondered the possibility of
a reverse mortgage now have a new benefit to consider; the
purchase of a second home.
The Federal Housing Administration (FHA) learned of statistics
that showed the number of senior aged homeowners selling
their large home and taking the proceeds to purchase a smaller
home. Some of these individuals were able to make enough
profit from the sale of their first home to put some money
in savings while still being able to purchase the smaller
home.
If you missed
Part 1 - The Essential Information,
Part 2 - The Payments
or
Part 3 - Is It The Same as
a Home Equity Loan, be sure to check them out.
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Benefits of the USDA Loan
August 2, 2010
Many people are looking for ways to take advantage of the
historically low mortgage rates. Some of these individuals
may not have quite enough for a 5% down payment on the home,
yet they have other strong financial qualities. For these
people, the USDA home loan in Wisconsin, Illinois, Minnesota
and Florida may be a great solution.
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Important Considerations for FHA loans
July 20, 2010
With the recent changes in the mortgage world, many people
are trying to find a loan to meet their needs. The no-money
down and interest only options from just a few years ago
are quickly drying up. However, the tried and true FHA home
loan is still a viable option for many homeowners. Here
is a list of things to consider in regards to FHA loans
in Wisconsin Illinois Minnesota and Florida.
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Preparing for a Mortgage Refinance
July 13, 2010
With the record low mortgage rates making headlines on a
regular basis, now is a good time to consider refinancing
a home loan. Here are a few guidelines to consider when
preparing for a Wisconsin, Illinois, Minnesota or Florida
refinance.
View our
mortgage rates
page to view current rates, updated daily!
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Can Paying Cash at Closing Make Sense?
June 30, 2010
With the recent turmoil in the mortgage world, people have
lots of questions about refinancing. There are times when
borrowers need to consider paying money at the closing in
order to complete the refinance. Can this be a good deal
for the borrower? Let’s consider a couple of situations
and see how the math works out.
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Jumbo Loans – Restrictive but available
May 28, 2010
A lot of questions have been posed about all types of mortgages
in this economy. One mortgage that seems to get more scrutiny
than others is the jumbo loan. These unique loans are still
around, but the approval process has changed considerably.
Jumbo loans in Illinois Wisconsin Minnesota and Florida
including Chicago.
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FHA Refinances Still Strong after Recent Changes
May 19, 2010
FHA refinance mortgage loans in Wisconsin, Illinois, Florida
and Minnesota afford borrowers the ability to refinance
any kind of mortgage loan that they now have with an FHA
refinance. FHA loans allow you to refinance up to 97.75%
of your home's appraised value.
There are certain requirements of a FHA streamline refinance.
Learn about your options to refinance or for FHA financing
from one of our specialists. What "streamline" basically
means in a nut shell is the amount of documentation and
underwriting needed by your lender, it doesn’t mean that
you will not pay any closing costs when you refinance your
FHA loan.
FHA loans are insured through a combination of a small upfront
mortgage insurance premium (UFMIP), as well as a small monthly
mortgage insurance premium.
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Freddie Mac Open Access Refinance (Freddie Mac to Freddie
Mac)
March 30, 2010
The Freddie Mac Relief Refinance Mortgage – Open Access
(Freddie Mac to Freddie Mac refinance) supports the federal
Making Home Affordable Program by helping borrowers who
are making timely mortgage payments but have been unable
to refinance due to declining property values. With this
offering, you can now refinance, even if we’re not currently
servicing the mortgage. Although the program allows up to
125% loan to value, (similar to Fannie Mae’s Refi Plus),
lenders are capping this program at 105% loan to value (at
least as of today’s date).
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