GONE WITH THE WIND . . . .

http://www.cicimurphy.com

The sub-prime mortgage crisis has had fall-out in the regular mortgage markets. Underwriting is changing. Products are changing. Down payment requirements are changing. Freddie Mac and Fannie Mae have eliminated "no doc" products.

Gone are "No Ratio Loans"
Gone are "No Income Verifier Loans"
Gone are "Stated Income Loans"
Gone are "No Doc Loans"

Oh, you may still be able to get some of these products on the higher interest rate portfolio loans or sub-prime market. But expect to pay much higher interest rates, have a larger down payment, and have a higher credit score than before.

Which mortgage is best for First Time Home Buyer?

A first time home buyer has many options from which to choose.

In Wisconsin, you may be eligible for a WHEDA loan (Wisconsin Housing & Economic Development Authority). There are income limitations and purchase price limitations depending on the county.

Conventional financing offers No Money Down options.

Federal VA and State VA for veterans.

FHA is for everyone, and is appropriate for borrowers that may have some credit issues.

Regardless, you need to sit down and go over all the options to determine which is the best fit.

Join me for my Tuesday or Thursday sessions, or call CiCi Murphy to schedule a private appointment

262-754-6487

http://www.cicimurphy.com

Which mortgage is best for First Time Home Buyer?

Most first-time home buyers are ovewhelmed with the prospect of purchasing their first home. They aren't too sure where or how to begin. Get your questions answered and get a firm plan of 'what to do next' from CiCi Murphy on Tuesday and Thursday afternoons at 3PM. Call for directions. (262)754-6487

http://www.cicimurphy.com