Loans for Wisconsin Veterans

Madison Veterans should look at both our State and Federal VA loan programs.  VA loans require no-down payment for purchase, and can go to 90% of your homes value on a refinance.  Vets will qualify for some of the lowest rates on the market.  Because of the nature of VA loans the VA charges a funding fee rather than adding monthly PMI to the loan.  This saves the Veteran thousands over the life of the loan.
 
Veterans loans are also slightly more forgiving on past credit issues than conventional loans.  If you are a Vet with a bankruptcy or foreclosure as a result of a medical emergency or the death of a wage earner you may qualify as soon as 1 year later.  If you already have a VA loan and you've been making your payments on time take advantage of a streamline refinance and use reduced credit, income and appraisal documentation to save you money on a new refinance. 
 
Fill out a quote request and have an experienced VA lender contact you to discuss your options.  Get the loan you deserve!

The benefits of getting a FHA loan compared a convention loan

When it is time to make the big decision as to the kind of financing you will chose when getting your home, FHA Loans have several advantages over conventional loans.

The federal government created FHA loan programs to encourage homeownership throughout the country. The FHA can also assist people to obtain a loan with little or no down payment. Understand that The FHA does not supply the loan, but rather it simply insures the loan to limit the risk to the lender.

There are several types of loans; these include traditional fixed rate loans as well as adjustable rate loans. One of the benefits of an adjustable rate mortgage is they guarantee the interest rate on your loan will only change at most by one or two percentage points, with no sudden surprises and massive jumps that may knock you off balance financially.

Another big benefit is that they typically don't require as large of a down payment as a conventional mortgage loan would. They also offer loans to those whose credit may otherwise disqualify them for a Madison conventional loan. In addition, the interest is typically lower for those with less than perfect credit.

It is important to know that the FHA itself does not lend you the money for the home and it does not set the interest rates on the loans. They are actually insuring the loan you are getting from a traditional lender.

To summarize, these attributes make these loans attractive:

. A 3% down payment, as opposed to a 5% down payment on traditional loans
. Low monthly mortgage insurance
. Low closing costs, which are regulated by HUD
. No credit score requirements
. Qualify for a loan two years after a bankruptcy
. Qualify for a loan three years after a foreclosure
Trust that you will get a Wisconsin local feel, personal service with the most experienced FHA and VA loan officers in the state.

What is a Stream Line Refinance?