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.

 

 


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wisconsin mortgage illinois mortgage   Mortgage Programs, Articles and Announcements
First Time Home Buyer FHA Streamline Refinance
100% Financing No Money Down Refinance
FHA Mortgage Loans Cash Out Refinance
USDA Rural Housing VA Streamline Refinance (IRRRL)
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My Community Mortgage Freddie Mac Home Possible
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What not to do after you apply for a mortgage
Effective 05/05/2010 New FHA mortgage insurance premiums
    Current premiums effective until April 5, 2010
Effective 02/01/2010 HUD to Speed Resale of Foreclosed Properties (blog)
Effective 02/01/2010 FHA Condo Updates Effective 2/1/2010 (on our blog)
Effective 01/01/2010 FHA Appraisal Portability Requirements (on our blog)
11/25/2009 HUD announces 2010 FHA home loan limits
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 condition addendum
UPDATED 02/09/2010 Current FHA underwriting turn time is 2 Days
    Conventional underwriting turn time is currently 2 days
Effective January 1, 2009
    Revised FHA Down payment and Maximum Mortgage Requirements
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

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.
Federal VA mortgage program information

FHA Mortgage Loans
FHA purchase and 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. 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. Rural Housing program information
 
  Refinance, Cash Out Refinance and Debt Consolidation
    Refinance, Cash Out Refinance and Debt Consolidation
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

Contact us or Apply Online today for a complete refinance assessment.
  Latest Posts on our Blogs
   

Today's Current Illinois and Wisconsin Mortgage Rates
February 8, 2010

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, Streamwood, Waukegan, Carol Stream, Mount Prospect, 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 02/08/2010: Steady

Read the rest of this entry »


Conventional, VA and FHA Loans Prequalify for a Purchase and Refinance
January 7, 2010

FHA allows single family homes, duplexes, 2-4 unit properties, low and high rise condos, townhouse, 2nd homes, PUDS, and many others. Refinance or purchase now to get a lower rate, turn your adjustable into a fixed rate and get fast cash. FHA refinance Loans are a great way to consolidate debt into one easy monthly payment.

Our most popular Wisconsin refinance and purchase programs offered for Germantown, Mequon, Sussex, Muskego, Milwaukee Wisconsin first time home buyer, VA, FHA, Refinance, No Money Down are listed below:

Conventional/Conforming, FHA and VA Refinance and purchase in Wisconsin:

Our FHA page

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VA Streamline Refinance: IRRRL
February 6, 2010

Outlined below are a few of the guidelines for a VA to VA refinance (VA IRRRL)
Generally the parties obligated on the original VA loan must be the same parties on the new loan and the veteran must still own the property. However, some ownership changes may be acceptable. The following outlines when a change in mortgagors is permitted:

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2010 Home Buyer Tax Credits
February 5, 2010

Just a reminder that congress extended the Homebuyer Tax Credit. First time home buyers may receive a credit up to $8,000 on home purchases made prior to April 30, 2010.

This newly expanded bill also revises income limits and would allow a $6,500 “move-up” buyer tax credit for those who have lived in their current principal residence for 5 or more years.

Read the rest of this entry »


FHA Mortgage Insurance to Increase 4/5/2010
February 5, 2010

I thought I would share some recent news concerning the FHA program. Beginning April 5, 2010 the upfront mortgage insurance premium (MIP) is being raised from 1.75% of the base loan amount to 2.25%.

Read the rest of this entry »


VA Mortgage Home Loans: Purchase, Refinance and Cash Out Refinance
February 3, 2010

Wisconsin VA loans are one of the benefits provided by our Veterans Administration (VA). VA mortgages do have some restrictions when compared to general mortgages in the marketplace but in today’s market the VA loan is a great option if you have no money down. VA mortgages do not require the private mortgage insurance that is usually necessary for loans with little or no down payment.

VA mortgages do offer a cash out refinance option, in which veterans may borrow up to 90 percent of the value of the home. These loans also include extremely competitive rates.

Read the rest of this entry »
 

FHA Mortgage Loans
January 31, 2010

Appleton FHA loans can be great alternative options for borrowers with small down payments, lower incomes, and past credit issues. These loans are currently available only to homes that fit under the specified mortgage limits.

You may use a Wisconsin FHA mortgage for buying a 1-4 unit owner occupied home assuming that the FHA mortgage amount does not exceed the maximum FHA loan limits for where the property is located.

Wisconsin FHA loans is one of the only types of real estate mortgage loans that currently does not require a FICO credit score.

Read the rest of this entry »
 

First Time Home Buyer Programs
January 29, 2010

Illinois no money down home loans enable those who have not been able to save for a down payment to realize the dream of home ownership. We offer three mortgage programs still available with little or no money down 100% financing for all Illinois residents:

Read the rest of this entry »
 

FHA Streamline 203k Rehab Loans
January 27, 2010

The Streamlined FHA 203k program in Wisconsin, Illinois, Minnesota and Florida is intended to facilitate uncomplicated rehabilitation and/or improvements to a home for which plans, consultants, engineers and/or architects are not required.

Read the rest of this entry »
 

Chicago FHA Loans
January 26, 2010

Chicago FHA loans refinance and purchase, which have been out of favor in recent years, are especially popular today because they typically have easier qualification requirements than non-governmental loans and require only a small down payment or very FHA mortgage loan limits in Chicago have been increased to $410,000 for all of 2010. If you acquire an FHA loan to purchase a home, FHA is not actually lending money to you, the buyer; FHA simply guarantees the lender in case you, the borrower, default on your mortgage payments.

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VA Builder Approval Process
January 18, 2010

All properties designated as "new," "proposed," or "under" construction must have a valid builder identification number on file with the VA.

If you are not yet approved, you will need to complete the following 3 documents.

Read the rest of this entry »
 

No Down Payment Rural Housing Loans
January 5, 2010

Wisconsin and Illinois USDA Rural Housing home loans have a huge advantage in today's Real Estate market. We've all heard these terms...

NO MONEY DOWN! ZERO DOWN! 100% Home Loan Financing!

These options for financing a home are no longer available with conventional financing or through FHA home loan financing. The best option for buying a home with No Money Down is with the VA home loans programs or the USDA Rural Development Home Loan, which will fund up to 102% of the appraised value.

Read the rest of this entry »
 

VA No Money Down Mortgage loans
December 27, 2009

With such a wide variety of mortgages available to individuals pursuing first time home buyer loans, it is crucial to understand as much as possible about each potential mortgage type. Almost all programs offered are available to first time home buyers in Illinois including Chicago.

If you are looking for a no down payment first time home buyer mortgage then your best bet is to look at our Government loans that we offer:

FHA Loans (now requires 3.5% down)
VA Loans
Jumbo VA Loans
Rural Housing Loans

Read the rest of this entry »
 

Jumbo Loans (Non Conforming)
December 23, 2009

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.

While conventional banks and mainstream, conforming lenders traditionally underserved borrowers of jumbo mortgages, a few mortgage brokers specialize in arranging jumbo financing up to multi million dollar loan amounts. The difference in pricing between conforming mortgages and jumbo mortgages (loans with values in excess of conforming loan limits) is usually considerable.

We offer jumbo mortgage loans in Illinois and Wisconsin

Read the rest of this entry »
 


First Time Home Buyer Tax Credit

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February 2010 Newsletter
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