Posted by Madison Mortgage on May 25th, 2010
Put simply, refinancing means paying off your old mortgage with a new one. Most lenders require that you have some equity in your home before you refinance but there are still higher loan to value refinance programs available.
There are many reasons to refinance your Wisconsin mortgage. First, mortgage rates continue to be at historic lows and current rates may be lower than when you first got your mortgage. If the current rates are 1 percentage points below your current rate (or a savings of at least $1oo/month) , it might be time to refinance.
View our Wisconsin mortgage rates page to view current rates, updated daily!
You may also refinance if you want to trade in your adjustable rate mortgage for a fixed rate mortgage.
Our most popular Wisconsin refinance and purchase programs offered are listed below:
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Posted by Madison Mortgage on May 14th, 2010
Steps to Home Purchase in Wisconsin, Florida, Minnesota and Florida
Some people seem to think that buying a home is like buying a car. Simply call a loan officer, get a check, and buy the home. The entire home purchase process is slightly more complicated. Here is a list of general steps that are involved with any home purchase.
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Posted by Madison Mortgage on May 3rd, 2010
If you are a Veteran, with an existing Wisconsin or Florida VA Guaranteed Mortgage, you are entitled to an additional benefit from The Department of Veteran Affairs when it comes to refinancing your VA mortgage.
This program is called a VA Interest Rate Reduction Refinance Loan or IRRRL (VA 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 payment history from your lender for qualification purposes. This report shows only your mortgage payment history and none of your other credit or credit scores.
The main eligibility for this program is the new VA mortgage must have the purpose of lowering the current interest rate, shortening the loan term of the current mortgage or converting from an ARM to a fixed rate loan.
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Posted by Madison Mortgage on April 14th, 2010
Owning your own Wisconsin home has several advantages besides the obvious satisfaction you get from home-ownership. You can build equity and enjoy tax deductions, and the quality of your life is greatly improved.
Whether you are a first time home buyer, a renter, or you are purchasing a new or second home, we have an assortment of tools and loan programs to meet your individual financing needs. Use our easy to navigate site, or contact us directly by phone or by applying online.
We can help you realize your Wisconsin homeownership dreams by offering you all the best advantages:
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Posted by Madison Mortgage on April 6th, 2010
It is very exciting when you finally decide to become a Wisconsin homeowner. Getting a mortgage is a detailed process, and not everyone knows the ins and outs of what to do. There are several steps you should take as you prepare to get a mortgage for your Wisconsin real estate. First time home buyers – this article is for you!
Tip # 1 – Your Down Payment
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