About Outagamie County, WI

www.fairwayfoxvalley.com

There is an AWESOME mortgage loan program back, alive and well in Wisconsin and no one seems to be talking about it. In October of 2011 FHA/HUD “re-opened” the books for their $100 down REO purchase program in Wisconsin. We did a video installment back in December but it has not seemed to stick. The reason we know this is because of how many realtors both myself, Ryan and Barry talk to on a daily basis that are delightfully surprised to hear that this program is back or even exists.

So here’s the deal my real estate agent friends of the Fox Cities…………let’s roll this information out, “LOUD and PROUD” to all of our home buying prospects. There are a ton of Wisconsin renters out there who stay on the rental sideline due to concerns over the down payment………….we now know we have that handled. For a $100 down, these Wisconsin & Appleton buying prospects can become proud owners of a home!

To all of you Appleton & Fox Cites renters out there that think buying a home is out of your reach due to either a less than perfect credit score or because saving up all that money for a down payment seems impossisble……………..your prayers are answered. FHA financing is the most liberal of loan programs when it comes to qualification and now you can take advantage for only $100 in to the deal!!

Keep in mind, these five major takeaways when talking about utilizing the FHA/HUD 100 DownProgram in the Fox Cities and/or Wisconsin:

1. The subject property must be a HUD REO (foreclosure)
2. The borrower must use FHA financing to qualify
3. The borrower must be moving into the home as their primary residence
4. The agreed contract price must be a full offer
5. FHA/HUD allows up to 3.00% seller concession toward buyer’s closing costs and pre-paids

The time is now for Wisconsin, Fox Cities and Appleton renters to seize the dream of home ownership! The prices are r0ck bottom, the rates are incredible and now a home can be bought for only $100 down!

If you’re a Fox Cities or Appleton real estate agent and need to know more about how to market or qualify these properties or buyers………….please reach out.

If you’re a renter and need more input, as always, we offer a FREE, no obligation home purchase application and credit consultation. Also, if you need any help finding a real estate agent, do not hesitate to call or email anytime.

We hope you enjoy today’s installment!

If you or any of your loved one have any questions regarding mortgage financing, home ownership or banking in general, please don’t hesitate to reach out.

Until next time-Yours Financially, Milly

Jamey Milheiser, NMLS #284184

www.fairwayfoxvalley.com

jameym@fairwaymc.com

Phone: 920-722-5626

First time home buyers and “move up-move down” buyers in the Fox Cities of Wisconsin need to know that they do not have to live out in the middle of nowhere in order to take advantage of the USDA/Rural Development home purchase program.

This program allows buyers in Wisconsin to purchase homes NO MONEY DOWN, at a national average interest rate, with very average credit and very little mortgage insurance. This USDA/RD program is available nationwide, but today we’re going to talk about my peeps, the residents of Appleton, Wisconsin and the rest of the Fox Cities. In Appleton alone, a buyer can be less than five minutes from shopping and amentias and still qualify for the USDA/RD home purchase program.

A quick summary of the borders for property eligibility for the Appleton area are as follows:

• To the North, just North of Highway JJ, just passed Appleton North High School.
• To the West, just passed Outagamie County Airport.
• To the South, just passed County Road A in Neenah.
• To the East, just passed Combined Locks and the southern part of Kaukauna.

Knowing this………..it’s easy to see how a Fox Cities resident can utilize the USDA/RD product and not have to live somewhere where they “pipe in the sunshine”.

Feel free to reach out to the team anytime to discuss eligibility for the USDA/RD product from both a borrower and property standpoint.

We hope you enjoy today's installment!

If you or any of your loved one have any questions regarding mortgage financing, home ownership or banking in general, please don’t hesitate to reach out.

Until next time-Yours Financially, Milly

Jamey Milheiser, NMLS #284184

www.fairwayfoxvalley.com

jameym@fairwaymc.com

Phone: 920-722-5626

Appleton Wisconsin Refinance Success Story: Debbie

Debbie, a 65 year old semi-retired school teacher, needs my help. Debbie has a serious cash flow issue. Debbie’s mortgage payment is way too high and her current lender is too greedy and they will not refinance her Appleton Wisconsin mortgage. Debbie’s interest rate was near 8 percent. That is outrageous.

Debbie currently pays more than half of her monthly fixed income on her Appleton Wisconsin mortgage. Debbie has to substitute teach several days a month in order to make ends meet. It’s tough to do this at that age.

Debbie has above average credit (she pays her bills,) a fixed income (a combination of SSI and small teachers pension,) and a modest home in the country.

Debbie’s main concern is declining home values. Debbie thought she was stuck in her current situation and would have to sell her home of 20 years and live in an apartment. That would simply crush Debbie’s spirit and life.

Debbie worked her entire life, did the right thing, and she thought there was no hope!

IT’S NOT RIGHT.

Debbie did not realize that FHA allows Appleton Wisconsin homeowners to refinance up to almost 98% of its value. We sat down at her lovely home and went through all of the loan aspects and documents.

Debbie was very organized and was able to provide all the pertinent documents for her Appleton Wisconsin Mortgage Refinance such as: 30 days of pay stubs, the last two years of income taxes, her current mortgage statement, her property tax bill, her home owner’s insurance declarations page, 3 months of bank statements, social security awards letter, her retirement account quarterly statement, and the closing paperwork from their current high interest Appleton Wisconsin mortgage.

Wi-mortgage.com was able to get Debbie her new Appleton Wisconsin Refinance Mortgage in less than 3 weeks.

Wi-mortgage.com was able to lower her new Appleton Wisconsin refinance mortgage payment by $300, cut her Wisconsin interest rate in half, and escrowed her taxes and insurance. This new mortgage allows Debbie to stay in her home with some peace of mind.

If you are ready to purchase an Appleton, WI home or need a Appleton Wisconsin mortgage, please call me at 920-623-9245 or visit my sites: frankpabon.com and WI-Mortgage.com!

You may now be eligible for an interest rate reduction. We may not require income documents or appraisal report to modify your existing Appleton Wisconsin mortgage to a lower rate and reduce your monthly payment! We recommend that you call to see if you qualify for the program.

FHA Seller Paid Closing Cost Changes:

FHA is reducing seller paid closing costs stating that they are continuing to manage total risk. By lowering the FHA seller paid closing costs buyers and sellers will not feel pressure to inflate the appraised value. This should not be a surprise for real estate professionals because HUD has been suggesting changes for over a year now. You will most likely see 3% maximum seller paid closing costs.

HUD is trying to improve the quality of business (risk.) According to HUD, they have had two very strong years of business and they intend on improving that this year!

For more information from HUD on seller paid closing costs please go to: http://portal.hud.gov/hudportal/documents/huddoc?id=fhacomcgJan2312Final.pdf

For more information on FHA such as guidebooks, notices, and mortgagee letters please go to:

http://www.hud.gov/offices/hsg/sfh/hsgsingle.cfm

If you have any questions about FHA seller paid closing costs and are ready to purchase an Appleton, WI home or need a Appleton WI refinance please call me at 920-623-9245 or visit my site: Frankpabon.com or WI-Mortgage.com!

You may now be eligible for an interest rate reduction. We may not require income documents or appraisal report to modify your existing Wisconsin mortgage to a lower rate and reduce your monthly payment! We recommend that you call to see if you qualify for the program.

Maggie and Nick recently came to WI-Mortgage.com inquiring about their Appleton Wisconsin Mortgage Refinance. When they found our website at WI-Mortgage.com, they sent our contact form and we called them. Their biggest concern was that they wanted to pay off some credit cards in addition to lowering their Appleton Wisconsin Mortgage Refinance interest rate. When Maggie and Nick decided to utilize our services, they had many doubts because they had been told no by a few other banks. They felt WI-Mortgage.com was their best opportunity to save a ton of money.

Maggie and Nick brought all over their documentation into our office. In addition to the typical documents neccessary to process a loan such as: 30 days of pay stubs, their last two years of income taxes, their current mortgage statement, their property tax bill, their home owner’s insurance declarations page, 3 months of bank statements, their retirement account quarterly statement, and their closing paperwork from their current Appleton Wisconsin mortgage. They also brought in the statements for the credit cards they wanted to pay off.

Having purchased their home nearly 5 years ago, Maggie and Nick had paid down their mortgage a little bit but also wanted to pay off some credit cards. When they purchased their home, they received an interest rate of 6.75% on a 30 year fixed. WI-Mortgage.com was able to help Maggie and Nick with their Appleton Wisconsin Mortgage Refinance and lower their interest rate to 4.75% on a 30 year term. Simply lowering their rate and paying off some credit cards saved Maggie and Nick over $600 per month on their new 25 year Fixed FHA Appleton Wisconsin Mortgage.

In less than 25 days, Maggie and Nick were able to tell their friends that WI-Mortgage.com was able to help them with their Appleton Wisconsin Mortgage Refinance.

If you are ready to purchase an Appleton, WI home or need an Appleton Wisconsin mortgage, please call me at 920-623-9245 or visit my sites: WI-Mortgage.com and appleton.wi-mortgage.com!

You may now be eligible for an interest rate reduction. We may not require income documents or appraisal report to modify your existing Appleton Wisconsin mortgage to a lower rate and reduce your monthly payment! We recommend that you call to see if you qualify for the program.