Banknotes

By: Paul Brooks, Assistant Vice President – Mortgage Loan Officer

With the weather finally starting to cooperate and spring just around the corner, the 2019 housing market is beginning to heat up in earnest. Loan applications for newly constructed properties accelerated going into this year’s peak home-buying season, contrasting with the weakness seen at this time in 2018. Year-over-year new-home purchase applications for March were up 7%; compared to the previous month, they increased 19%.

By: Corey Randl, Mortgage Loan Officer and Licensed Real Estate Broker. NMLS #500032

If you are thinking about purchasing your first home, the down payment may be one of the reasons why you decide to wait. While there are a number of factors that play into a pre-approval for a home loan, the down payment is a major component to this process. Setting aside funds for a home purchase is not always easy.

While there is a lot of information out there about homeownership, it is very important to talk with a local, knowledgeable lender regarding the options for your particular situation. 

By: Paulo Gutierrez, Mortgage Sales Coordinator

Economists confirm that homeowners, on average, accumulate more wealth than renters. By paying down their mortgage on a monthly basis, part of every payment goes to the principal and the value of their asset (house). Homeowners also have the flexibility to improve their property to better suit their needs and to increase its value over time.

By: Cindy Mack, Assistant Vice President – Mortgage Loan Officer. NMLS#500031

When trying to decide what loan program is the best for you, a basic decision is whether to go with a fixed rate or an adjustable rate mortgage.

By: Corey Randl, Mortgage Loan Officer and Licensed Real Estate Broker. NMLS #500032

Dane County’s Spring Real Estate Market is here!  We are on year three of lack of inventory in homes for sale, which means it is going to be another year of a strong seller’s market.  When homes do get listed for sale, it does not take long for that property to go into contract and thus on its way to a successful closing.  It is great being a seller right now, however as a seller, what are you going to buy? 

By: Mark DeBiasio, Executive Vice President – Chief Financial Officer

On December 22, 2017 the President signed the Tax Cuts and Jobs Act of 2017.  The new law makes many significant changes to the tax code, including doing away with the deduction for the interest paid on home equity loans.

By: Corey Randl, Mortgage Loan Officer and Licensed Real Estate Broker. NMLS #500032

Are you looking to purchase a home in 2018?  It is still a great time to invest in real estate since interest rates remain at historical levels, the underwriting of mortgage loans has loosened up and rent prices continue to increase.

By: Mark DeBiasio, Executive Vice President – Chief Financial Officer

Simply put, a Home Equity Conversion Mortgage (or HECM) is a financial product that allows homeowners, over the age of 62, to extract equity from their homes in tax-free fashion.  HECM’s are only available through FHA approved lenders.  HECM’s are loans secured by a first mortgage on the homeowner’s residence with loan proceeds paid out over time or in a lump sum.  HECM’s do not create a repayment obligation as long as the homeowner resides in their home and keeps real estate taxes current.

By: Corey Randl, Mortgage Loan Officer & Sales Manager/Licensed Real Estate Broker NMLS # 500032

For most homebuyers, one of the biggest hurdles to owning a home is the down payment. Private mortgage insurance, or PMI, can allow you to purchase a home with less down than what is typically required.

By: Mark DeBiasio, Executive Vice President – Chief Financial Officer

With mortgage rates remaining at historic lows, and real estate markets recovered, it’s a great time to consider buying a home. Before you begin searching for your new home, however, it is important to determine how much you can afford and how much of a loan amount is prudent.  Fortunately, obtaining a mortgage pre-approval gives you the advantage of answering both of those questions. In addition, it's the first item that a real estate agent will ask about before they take you house-hunting.  Having a mortgage pre-approval is especially important in this very competitive home buying environment.