Wisconsin, Illinois, Minnesota and Florida Mortgage Rates as of
05/17/2012 at 9:59 AM CST
Current Mortgage Rate Trend: Improving
Visit http://www.madisonmortgageguys.com/current_rates/index.htm for all current rates and APR information.
| 30 Year Fixed: | 3.875% (3.970% APR) |
| 15 Year Fixed: | 3.250% (3.340% APR) |
| 30 Year Fixed FHA: | 3.750% (4.000% APR) |
| 30 Year Fixed FHA 203k: | 4.125% (4.380% APR) |
| 30 Year Fixed VA | 3.750% (4.040% APR) |
| 30 Year Rural Housing: | 3.750% (4.030% APR) |
| [Continue Reading…] | |
The USDA loan is one of the most affordable loans for most borrowers. Although these mortgages may seem to have a few more restrictions than a FHA or Conventional loan, the rules actually work to make sure the borrowers can easily afford the payments. Here are some of the highlights of the USDA Home Loan program.
Based on the struggling economy of the past 3 years many homeowners have been forced to get rid of their property through a short sale. As people rebuild their credit and improve their incomes they are starting to get the itch to buy a home again. Here are the general guidelines for qualifying for a conventional mortgage following a short sale.
Since its introduction the reverse mortgage has been at the center of a storm. Lending agents have touted their benefits to people in their golden years while many consumer advocates and financial planners have cried out against the loan. But new research from an economics professor and a practicing tax attorney show empirical evidence that these loans can be beneficial if used in the proper manner.
The VA mortgage has been one of the benefits offered to our men and women who willingly join the armed services of America. Most people think that the home loan program is only offered to people who are discharged from the military and served in time of war. However, that is not the case.
In the current economic climate a fixed rate loan for either 15 or 30 years seems to be the only consideration for many people. However, since rates are so low, the Adjustable Rate Mortgage (ARM) can still be a good deal, especially the 5 year ARM for a jumbo loan.
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