|
|
 |
|
|---|
 |
|
 |
|
| Take the first steps to owning your own home
through FHA! FHA provides flexible lending solutions for qualified borrowers who may have past credit issues, only have a small down payment saved, or are looking to refinance a current home loan. Insured by the government FHA loans were designed to help more buyers achieve the dream of home ownership. They are only offered by certain approved lenders, bankers and brokers. We are an approved banker for FHA loans in Wisconsin, Illinois, Minnesota and Florida including major cities such as Minneapolis, Chicago, Streamwood, Arlington Heights, Northbrook, Milwaukee, Waukesha, Madison, Pewaukee, Appleton and Green Bay. FHA mortgages are available to all qualified home buyers, but are subject to maximum mortgage limits for each county. FHA offers low down payment options, flexibility and charge less for mortgage insurance premiums (MIP) compared to a conventional loan. |
|
FHA is a great program for first time home buyers because the down payment
required is usually smaller than the down payment for a conventional loan.
However, you don't need to be a first time home buyer to take advantage
of an FHA mortgage; the only stipulation is that you may only have one FHA
mortgage at a time.
FHA program highlights:
Streamline FHA 203k Rehab Loan Program
FHA Streamline Refinance Program
HUD announces 2010 FHA home loan limits
Search FHA Maximum
County Mortgage Limits by State
Illinois FHA Loan Limits (PDF) Sorted by County
Wisconsin FHA Loan Limits (PDF) Sorted by County
Minnesota FHA Loan Limits (PDF) Sorted by County
Florida FHA Loan Limits (PDF) Sorted by County
FHA mortgage insurance premiums
(effective April 5, 2010)
FHA approved condo
list
What is PMI (Private Mortgage Insurance)?
PMI is money paid to insure the lender against loss due to foreclosure or
loan default. Mortgage insurance is required on conventional loans with
less than a 20 percent down payment. FHA mortgage insurance requires a payment
of 2.25% for most loan types and is added to the initial loan balance, instead of being paid
out of pocket, as well as an annual fee of 0.55 percent of the loan amount
added to each monthly payment. To view all mortgage insurance premiums
based on loan to value and loan term, please visit our
FHA Mortgage Insurance Premiums page.
Other programs that may be of interest:
Rural Housing (still no money down 100% financing)
VA Home Loans (still
no money down 100% financing)
My Community Mortgage
Freddie Mac Home Possible
100% Financing Programs
All Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Programs
My Community Mortgage
Government Loans including
FHA, VA and
Rural Housing
Refinance Programs
Current
FHA Mortgage Rates
About Us
Apply or Pre-qualify
Online
Contact Us
Recent FHA mortgage posts on our blog:
The FHA 203k Home Improvement Loan – Part 4
June 18, 2010
The FHA 203K program is a wonderful tool to help homeowners
and potential buyers with home repair and remodeling projects.
Over the course of the last few posts we have shown you
some of the basic guidelines for these types of loans. We
will conclude this series with questions frequently asked
about this topic. This is part 4 of a 4 part series on FHA
203k loans in Wisconsin, Illinois, Minnesota and Florida.
FHA Mortgage Loans Purchase and Refinance
May 04, 2010
Minnesota, Florida, Wisconsin and Illinois FHA mortgage loans are currently available only to homes that fit under the specified mortgage limits which can be found here FHA Mortgage Limits. These loans allow for a low 3.5% down payment, have great interest rates due to being insured by the Federal Housing Administration, allows for less than perfect credit and makes it much easier to qualify due to FHA insuring the home loan. The 3.5% down payment can be paid by a relative as a gift.
FHA refinance mortgage loans are also becoming increasingly popular among home owners trying to refinance out of subprime loans. FHA loans are not just for first time buyers and are available to everyone looking to purchase or refinance a home.
Our FHA loan programs can help you with buying a home with no money down. To learn about FHA loan qualifications, or get a free FHA home loan prequalification by visiting our FHA loan program page.
FHA Loans: 5 Things to Know Before You Obtain One
April 22, 2010
Today, we are going to touch on some things to know
about the FHA program before diving, head first, into
the housing market. If you keep these in mind as you are
house hunting, you will feel less stressed by the loan
process, knowing you understand these important
guidelines:
Read the rest of this
entry »
Identity of Interest Transaction (family member to
family member purchase)
April 02, 2010
Identity of Interest Transaction (family member to family ember purchase). If you are purchasing from a family member and the family member does not currently owner occupy that home, you as a purchaser, are limited to 85% loan to value.
Are Wisconsin FHA Loans only for First Time Home Buyers?
March 24, 2010
This question has been asked of me several times this
past month, so I thought I would write this to clarify
for everyone.
First, lets start with the definition of a
first time home buyer.
Put simply, if you haven’t owned a home in the past
three years, you would be considered a Wisconsin first
time home buyer.
FHA program
Information
First Time Home Buyer
program information
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
»
Chicago FHA Mortgage Home Loans
January 26, 2010
FHA mortgage in Chicago are available to anybody but are used most
often by first time home buyers and low- to moderate-income buyers.
FHA loans are insured through a combination of a small upfront
mortgage insurance premium (UFMIP), as well as a small monthly
mortgage insurance premium.
FHA mortgage loan programs are designed to make homeownership more
readily available, so take advantage of what’s available to you
today.
For more information on Chicago, Illinois FHA refinance, FHA cash
out refinance and FHA purchase home loans please visit our
FHA page.
Read the rest of this entry »
Appleton FHA Loans
January 23, 2010
Appleton FHA 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, Appleton
FHA loans 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, De Pere, Green Bay, Menasha, Neenah,
Oshkosh and Fox Cities, including VA and Rural Housing
home loans at
http://www.madisonmortgageguys.com
Read
the rest of this entry »
|
