The Mortgage Credit Certificate (MCC) is a tax credit that has been around for a number of years to help Wisconsin homeowners improve their ability to pay for their mortgage. Here are the basic guidelines of how the program works.
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No and Low Money Down Mortgage Options
For potential home buyers who are in need of saving money on their purchase, there are some great ways to buy a home with a no or low down payment requirement. A few of the loans have very specific requirements in order to qualify. However, as we will show, most of these loans are available […]
High LTV Refinance – Fannie Mae & Freddie Mac
Back in 2009, as the mortgage crisis was slowly ending, many homeowners found themselves in a terrible position; their home was worth much less than their current mortgage balance. To persuade people to stay in their homes and avoid a wave of foreclosures across the country, Fannie Mae and Freddie Mac introduced the HARP plan. […]
Investment Properties
Over the past few years, the basic guidelines for lending money on investment properties have changed greatly. At one time, during the late 1990s and into the early 2000s, multiple mortgage lenders offered various loans designed specifically for buying a rental property. However, with the real estate crash, all of that has changed. Listed below […]
Conventional Loan Limits
The overall strong real estate market has seen major booms in the last few years. The increase in average prices have led to a change in the Fannie Mae and Freddie Mac conventional loan limits, yet again. For the year 2024, the maximum loan limit amount allowed by either Freddie Mac or Fannie Mae for […]
FHA Loan Limits
According to a recent update from the Federal Housing Administration, also called FHA, there are higher loan limits available. All areas around the country will benefit from the FHA floor maximum loan limit of $498,257. This amount is the new maximum for a single-family home. FHA also offers financing for multi-unit homes, up to a […]
Interest Only Mortgage Loans
Interest only loans may be the solution for you if you are looking for a way to afford more home for less money. The Advantage of An Interest-Only Mortgage: An Interest-Only mortgage is an excellent mortgage option for borrowers who want the lowest payment possible. An Interest-Only loan means exactly what it says, the borrower […]
Know What Questions to Ask Your Mortgage Lender
Here are some major questions any potential home buyer should ask their mortgage lender before signing up for a loan.
Michigan USDA Mortgage Requirements
USDA Rural Development Mortgage When you are choosing which loan program is right for you, you might not consider the USDA. As this program is designed for homes in rural areas, you might not think it is suitable for your situation. However, the majority of Michigan should be covered and this type of loan offers […]
Why FSBOs Fail in Real Estate: Key Factors for Failure
Understanding the consequences of FSBO failure sheds light on the potential risks of navigating the real estate market without professional assistance.