If you are new to the area and need help finding a home please contact us 414-773-9113 or dsewell1974@yahoo.com and let us put you in touch with one of our preferred Realtors. They will help make your transition into Milwaukee a much more enjoyable experience.

If you live in Milwaukee, and have an abundance of credit card debt, you may want to contact your Milwaukee mortgage professional at 414-773-9113. They have 100% financing debt consolidation programs available to you that could save you hundreds of dollars every month.

You will benefit more from the services of a Milwaukee mortgage broker then you will from a local bank. The mortgage broker will have access to hundreds of loan programs and will always be current on the latest and most exciting loan programs. If you live in Milwaukee you owe it to yourself to use a Milwaukee mortgage broker for you next refinance or purchase mortgage transaction.

By working with a local Milwaukee mortgage broker, you may never have to leave your home during the process. The mortgage professional can come to your house for the initial paperwork, and many local title companies will do in house closings. This is just a way to streamline the process for the customer.

Fixed Rate vs. ARM - There are many different options available when shopping for a mortgage, but one of the most basic choices potential borrowers face is the choice between a fixed rate or an adjustable rate mortgage.

There are benefits and drawbacks to each, and you should consider these when shopping for a mortgage.

A fixed rate mortgage has the advantage that the interest rate is fixed for the life of the loan. Your payments will remain stable, regardless of changes in the real estate or interest rate markets. Over the life of your loan, the interest rate market will fluctuate, and at some point, your interest rate will probably be below the current market. The lender assumes the risk of such market fluctuations in making the fixed rate mortgage for you, and in exchange, the fixed rate mortgage typically carries a higher rate than a comparable adjustable rate mortgage.

An adjustable rate mortgage (ARM) offers a lower initial interest rate than its fixed rate counterpart. The reason for this is that making a mortgage involves a large sum of money being lent over a long period of time, and therefore carries some level of risk for the lender. If you take on an adjustable rate mortgage, you are assuming some of that risk by allowing your interest rate to change with the market. The lenders profit margin is protected over the life of the loan, and therefore they can offer you a more attractive interest rate.

During the early amortization period, a large percentage of the monthly payment is used for paying the interest. As the loan is paid down, more of the monthly payment is applied to principal. A typical 30 year fixed rate mortgage takes 22.5 years of level payments to pay half of the original loan amount.

Fixed Rate Mortgages are often thought of as having high monthly payments and little to no flexibility compared to their ARM Adjustable Rate Mortgage brethren. In recent years, many people have voted with their feet and refinanced into record numbers of exotic mortgages, such Option ARM mortgages, because these adjustable rate mortgages allowed them to defer interest and pocket excess cash flow. However, in today's rising interest rate environment, many borrowers who are in the original, 1 month MTA or LIBOR variety of these adjustable rate mortgages are seeing dramatic increases in their underlying interest rates. When an option ARM loan's rate increases (the actual rate, not the minimum payment rate), the negative amortization caused when you defer interest each month increases, and your loan will "recast" or reset to a full payment, much more quickly. At today's rates, the typical option ARM loan taken out in 2004 or 2005 will recast in the next several months, often with no real notice to you. Don't get caught with your pants down on this, the payment can more than triple in some cases. Before your Option ARM loan recasts, consider locking in a low fixed rate loan with a cash flow option, which will minimize the negative effects of the interest you choose to defer and prevent any nasty surprises in the future.

Most homeowner sell or refinance their homes within 5 years, therefore obtaining a fixed rate may not always be the best option. When you are looking to buy a new home or refinance your existing mortgage sit down with your mortgage professional to find out all of the advantages and disadvantages to both a fixed rate home loan and an adjustable rate home loan for your individual situation. Adjustable rate mortgages, also referred to as ARM's, can be highly advantageous when used in the right situations. Remember to, that with an adjustable rate mortgage your rate can also go down depending on the market conditions at the time of the adjustment periods.

Both fixed rate and ARM loans can be "interest only". Typically, the interest-only period on a 30-year fixed rate loan lasts 5 years. On adjustable-rate mortgages, the interest-only period typically coincides with the fixed-rate period (if the loan is a 2-year ARM, the interest-only period is usually 2 years as well).

Mortgage loans with long fixed rate periods usually have higher interest rates. However, in certain interest climates, the short term rate is at the same level as long term rates. In such economic conditions, there is little to no difference in interest rates between an Adjustable Rate Mortgage (ARM) and a Fixed Rate Mortgage )FRM).

First time home buyer - Many people dream of owning a home but the home loan process can be confusing for many first time home buyers. Mortgage lenders offer first time buyers with many home loan options and assist the buyer in finding the best home loan for them. First time home buyer programs can offer lower interest rates, low down payments, or reduced taxes.

When shopping for your first home, it is extremely beneficial for you to be "pre-approved" for a mortgage. This means that the bank has already reviewed your credit report and income documentation and commits that they will lend you x dollars (based on the house being acceptable collateral). This is like shopping for a home with cash in your pocket! Both sellers and realtors get excited when they have a pre-approved customer. It moves you to the front of the line!

Be sure to get prequalified by your mortgage professional so that you will know how much you can afford to spend on a home. There are many different first home buyer loan programs available. It's important to consider all aspects of the program, not just the amout of the down payment, to ensure that it will be the best one for you both initially and over the next several years.

Some of the programs require you to be a true first time home buyer. This means that you have never had any interest in any real property, ever, compared to some other programs that simply require a three year window with no ownership.

Many lenders and insurance companies offer a First Time Home Buyers Education course that is free. Some first time home owner loan programs require you to take this course. The company that offers the course will often issue a certificate once the course has been completed.

With an abundance of no and low down payment loan programs along with loan programs that allow seller contributions toward closing costs, the climate as never been easier for the first time home buyer.

Many states and local counties offer down payment assistance programs to First Time Home Buyers. To qualify, most such programs require that the FTHB's incomes be within a certain limit. There may also be limits on the property locations and project developments. These programs also have measures in place so assistance recipients cannot profit from selling the homes or refinancing the mortgages to cash in the equities built in the homes within a specified period of time.

If you are a first time home buyer, please speak with a loan officer and your realtor or seller about seller's concessions which may help cover closing costs in a no money down or 100% financing scenario.

Fannie Mae and Freddie Mac both have 100% first time home buyer programs. You may have to pay Private Mortgage Insurance (PMI) There are alternatives to paying PMI, ask you mortgage broker for more information.

If you're a first time home buyer and need help paying closing costs, consider a loan that allows you to roll your closing costs into the loan amount.

103% - allows 3% of the purchase price to be rolled into the loan.
107% - allows 7% of the purchase price to be rolled into the loan.

With the many 100% financing mortgage programs availible today you may not need to use a down payment assistance program if you have fair credit. Ask your mortgage broker the pros and cons of each scenario.

There are many programs for purchasing a new home with no money down. Perfect credit is not required and in most cases closing cost up to 6% of the loan amount can be financed into the loan.

Some of the first time home buyer programs can be used with multiple down payment assistance programs on the local and state level as well.

In 2005 43% of first time home buyers used 100% financing. That's right! No money down! Those buyers only had to pay their closing costs.

Being a first time homebuyer can be a scary yet exciting time for a family. Along with the freedom and pleasure of owning your own home come many responsibilities. You will now have to pay property taxes, homeowners insurance, maintain the upkeep you your lawn, landscaping and exterior of your house, be prepared for inside home maintenance and take care of old worn out appliances in your home. When you furnace goes in the middle of winter there will be no landlord to call to come over immediately and have it fixed or replaced. However the rewards of owning your own home tremendously overshadow these minor responsiblities. Being a homeowner allows you to have the freedom you have always desired to have with YOUR OWN HOME. This home will belong to you and is yours to do with as you please. No more rules from parents or family members, no more landlord restrictions, no more neighbors that live above you and below you as in the apartment you just moved out of and no more having to be quiet as a mouse so that you will not disturb your neighbors through the paper thin walls in your apartment building. You make your own rules now. Being a homeowner gives you tax advantages during income tax time, it provides you with an investment of your money, and it provides you with a place to grow memories for yourself and your family. A good mortgage professional can help you understand what to expect during your first years of homeownership and will walk you through step by step of the mortgage process so that you understand what is going on throughout the processing of your home loan application. Find a mortgage professional that comes highly recommended from a family member or friend, or make sure you find someone you can TRUST when you are looking to buy your first home. This will truly make a big difference.

Using a real estate broker is a very good idea. All the details involved in home buying, particularly the financial ones, can be mind-boggling. A good real estate professional can guide you through the entire process and make the experience much easier. A real estate broker will be well-acquainted with all the important things you'll want to know about a neighborhood you may be considering...the quality of schools, the number of children in the area, the safety of the neighborhood, traffic volume, and more.

Your mortgage broker can recommend a realtor in your area that specifically works with first time buyers. They will be more sensative to 1st time buyers needs as well as their constrants.

Not only can you acquire 100% purchase which entails no down payment money, but a good real estate professional can also get the seller to pay closing cost. Which means no money out of pocket at all.

Find a good loan professional in your area to give you an overview of the process and also get preapproved so that you know what price of home you can purchase.

At Wisconsin Mortgage Broker, we have a wealth of experience in helping first-time homebuyers find the best loan program for their needs. Call us now at 414-773-9113 to see how we can help you purchase the home of your dreams.

If you have not owned a home in 3 years you are considered a first time homebuyer and can be eligible for first time homebuyer programs.

Ask your mortgage broker about what first time home buyer programs that are available to you. You might even qualify for a down payment assistance program. There are several down payment assistance programs, that may be able to grant you the money for your down payment. The grant must be agreed upon by both the seller and buyer, and must be in the offer to purchase. The grant money does not need to be paid back, and could help you qualify for your first home!

There are some differences in Buyer's Assistance programs though. Some programs will actually put a lien on the property for a certain period of time. As long as you own the home for that time period the lien will be released and won't have to be paid back. You might want to ask about the program if you are looking at this option to determine if it will fit into your needs.

First Time Homebuyer programs offer borrowers financing with no money down, however to get the best rates, making a downpayment can be a sensible option for some.

VA entitlements are an excellent way for certain borrowers to get into their first home with little to no money down, and a great helping hand from the government.

Many first time home buyers purchase property with no money down.

Wisconsin Realtors - If you need to buy or sell a home in the state of Wisconsin you have two choices. You can either try to do it yourself or hire a licensed Wisconsin realtor to list your home and/or find you a new home.

When choosing a realtor, as part of the selection process, remember to check out the realtor's other listings (they are usually available online). If you are looking to sell, that information will help you decide how your property fits-in with the other listings the realtor is marketing. If you are looking to buy, it will tell you if the realtor specializes in the kind of properties you're looking to buy.

The fee's a realtor charges to sell your home average between 5-7% of the sale price. This fee is negotiable and the final fee often depends on what the realtor is comfortable making on the transaction.

Make sure you contact your Mortgage Consultant at 414-773-9113 or send an e-mail dsewell1974@yahoo.com to get a list of reputable Realtors in your area.

A good Wisconsin realtor should be able to supply you with information on the neighborhood that you are looking to purchase in. They can supply you with the local school district information, where the closest grocery store is, and probably just about anything else that you can think of.

Before deciding on a realtor, you should call around and talk with several of them. You could be spending a lot of time with this person, so you will want to be comfortable with them. Come up with a list of interview type questions that you can ask the realtor. Make sure that they are professional and have a good reputation within the area.

If you are buying a house be sure and search for a Wisconsin realtor that has the credentials of ABR. That stands for Accredited Buyers Representative. This means that the realtor will work with the buyer’s best interest in mind and not the sellers. By hiring a Wisconsin realtor with ABR credentials you can save yourself considerable money on your new home. Your mortgage broker should have a few realtors they work with and will be able to recommend a good one to you.

If you are listing a house you may want to seek out a listing agent. A listing agent specializes in only listing properties for sale and works with the sellers best interest in mind.

WI realtors did some of their best work in 2005. In 2005 more homes were sold via a local WI realtor than in any other year in the past. People prefer to use a realtor, because the home buying/selling process can be a lot for someone to worry about. The realtor already has the process streamlined to make it as simple as possible for their customers. If you are looking for a qualified realtor, contact your local mortgage professional at 414-773-9113, or email them at dsewell1974@yahoo.com, to be put in touch with a competent realtor.

By using a Wisconsin realtor you decrease your chances of buyer fall through and other potential problems. The realtor will have the knowledge and experience to make sure certain steps are followed to help secure a successful transaction.

An experienced realtor is usually the best choice. A seasoned real estate agent can spot market trends and adjust their marketing strategies accordingly. By adjusting to market trends and experienced realtor will be able to get the best deal for their clients.