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Serving 47 states including Wisconsin, Illinois, Minnesota, and Florida. We offer first time home buyer, refinance, jumbo, fha 203k rehab loans, reverse mortgages, no money down, current mortgage rates, refinance, 100% financing, conventional financing, interest-only, FHA loans, VA loans, and USDA rural housing loans.
RECENT BLOG POSTS
The VA mortgage has been one of the benefits offered to our men and women who willingly join the armed services of America. Most people think that the home loan program is only offered to people who are discharged from the military and served in time of war. However, that is not the case. Active...
06/14/2012
The final part of our Illinois VA Loans series will explain different credit issues that may be discussed and questioned during the application process. Lack of CreditIt is possible for a veteran that has never borrowed money to obtain a VA mortgage.  If the veteran can show consistent and promp...
12/21/2011
In this part of our Illinois VA Loans series we will explain the VA Funding Fees. The Funding Fees are assessed on all VA mortgages whether it is a purchase or a refinance loan. First time buyers will be asked to pay 2.15% of the total loan amount if they get a mortgage with no down payment. The...
12/21/2011
In this part of our Illinois VA mortgage loan series we will explain the debt to income ratios used to qualify a borrower for a VA home loan. 41% is the Magic NumberThe ratio is a fairly simple math formula. The first step is to determine the borrower’s monthly gross income. This is income from ...
12/21/2011
This is the first part in a series aimed at educating potential borrowers on various aspects of an Illinois VA mortgage loan. Part 1 discusses the various closing costs associated with a VA home loan. Appraisals and InspectionsThe appraisal is a report completed by a certified residential apprai...
07/05/2011
There was a time not that long ago that lots of people was getting involved with real estate transactions using various no money down mortgages. People would buy a home in need of repair, take ownership and then try to sell it quickly to a home renovator and make a quick buck. This practice led ...
05/27/2011
View current FHA Loan Limits -------------------------------------------------- From HUD: WASHINGTON - U.S. Department of Housing and Urban Development announced the updated Federal Housing Administration (FHA) mortgage loan limits for single family homes under the authority of the Continuing App...
12/14/2010
    A Gift of Home Ownership with FHA Loans   Lots of people want to buy a home.  Starting a solid career, owning a car and buying a home seem to be the perfect trifecta for the American dream.  Unfortunately, buying a home usually requires a substantial down payment, an amount that the majority ...
11/15/2010
The first four articles in this series were aimed to get you ready for this step; finding a home.  After you have been pre-approved for a VA home loan and you have determined your price range you can begin looking for a home.  Many people look to a real estate agent to help them locate a home.  ...
10/11/2010
So far in the series "How to Get a VA Home Loan" we have explained who is eligible for the loan, how to get a certificate of eligibility and the VA funding fee.  Today's article will offer suggestions on choosing a mortgage loan officer. Veterans have numerous options for choosing a mortgage len...
09/24/2010
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Serving 47 states including Wisconsin, Illinois, Minnesota, and Florida. We offer first time home buyer, refinance, jumbo, fha 203k rehab loans, reverse mortgages, no money down, current mortgage rates, refinance, 100% financing, conventional financing, interest-only, FHA loans, VA loans, and USDA rural housing loans.

Visit us online at https://www.madisonmortgageguys.com