Wisconsins full time residential real estate agent focused in waterfront property; luxury lake homes, lake homes, vacant lake land and vacation homes or second home opportunities . There is no place like "WISCONSIN LAKES". If lake living is what you desire then Lake Country is the place to be!If you are thinking about buying waterfront property in Wisconsin,a little time invested in learning about waterfront living will pay back sizeable dividends in matching your expectations to realities.

The magic of Wisconsin’s lakes - The LAKE COUNTRY

There are many reasons people fall in love with Wisconsin lakes. Spectacular sunrises and sunsets, good fishing, a tour of the water in a favorite boat, a beautiful backdrop to enjoy scenery and explore nature, a place to reflect or just get away from it all. With more than 15,000 Wisconsin lakes, there are many types and sizes of lakes all with their own unique character and natural assets.

Your best source for Lake Country Living is Lisa Bear.

Wednesday, September 26, 2012

It is Still Possible to Buy a Home with No Money Down

It is Still Possible to Buy a Home with No Money Down



To say that buying a home has gotten tougher in the past few years would be a vast understatement. Lenders are casting a more critical eye on appraisals, credit reports and income calculations. To make matters worse, most lenders require at least 5% of the home’s purchase price as a down payment. However, there are still a couple of programs that offer financing with no money down.

VA Mortgage
The Veterans Administration (VA) authorizes lenders to offer VA Mortgages to qualifying veterans and active duty personnel. The loan was first offered in 1944 as a benefit to soldiers returning home from World War II. This loan is offered to a wide range of people who have served during peace time and war time as well as to people that have served in the various reserves.
The main attraction of the loan is the absence of any down payment requirement. Other benefits include attractive interest rates, fixed rate loans, and no mortgage insurance.

USDA Home Loan
This is another program authorized by a government agency. The United States Department of Agriculture offers the USDA Home Loan to qualified applicants. Typically, borrowers must have a credit score of at least 620 in order to get approved for the loan. There are rules that limit a person’s total household income. Finally, the property being purchased must be in an area that is labeled rural by the USDA.
The beauty of this loan is the ability to borrow up to 100% of the home’s market value to cover not only the loan but also closing costs associated with the mortgage.

Getting approved for one of these loans is usually easier than getting approved for a conventional loan. The rates will be very comparable and you won’t have to come up with a large down payment in order to get approved for the financing.

For additional information see our VA mortgage or USDA Rural Housing page on our site or to see if you qualify, contact me below or apply online.

1 comment:

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