Financing in Wisconsin : Questions & Answers

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Jill Olbrys, Home Buyer in Wisconsin
Jill Olbrys answered:
I'm looking for Mortgage Brokers who do creative financing in the Kenosha,WI area. Can you help?
Call Blake at Diamond Residental
0 votes Share Flag Thu Dec 11, 2014 Financing in 53142
Mark Nehs, Real Estate Pro in Waukesha, WI
Mark Nehs answered:
Can my partial (supplement) unemployment benefits be used for FHA loan? (I remained employed entire time)
Agree with Dan, get together with a mortgage professional as you will need a full review not just a few paragraphs. Also even though you cannot work on your own loan you should be able ... more
0 votes Share Flag Mon Apr 7, 2014 Financing in Milwaukee
Jay Benson, Real Estate Pro in 53095
Jay Benson answered:
Where can I find someone to finance a home for me after a short sale. It would be a hardship that I have to sell my home.
If you tried you best and still have the ability to show you can and will continue to earn a stable income, then I would try a bank mortgage expert vice a broker. My recommendation:
G ... more
0 votes Share Flag Fri Apr 4, 2014 Financing in 54915
mike.wolle, Real Estate Pro in Minneapolis, MN
mike.wolle answered:
Hello- I am a physician who was in practice for 2 years (higher income) prior to returning to a 1 year training program (1 year income reduction).
yes these loans are available. actually these loans are actually available with 5% down and no mortgage insurance. We have a specific Physician loan that would fit all of your needs p ... more
0 votes Share Flag Mon Mar 24, 2014 Financing in Milwaukee
lisa, Home Buyer in Milwaukee, WI
lisa answered:
I got my condo with a WHEDA mortgage. Now I'd like to rent it out -- can I?
I have the same situation in Milwaukee!!! How did you end up solving it?? I am looking into real estate attorneys to see if anyone won a fight with them.

Their terms are REDICULOUS! ... more
0 votes Share Flag Tue Mar 11, 2014 Financing in 53590
Brady Jennem…, Real Estate Pro in Bloomer, WI
Brady Jenneman answered:
Who is a good mortgage broker/loan officer to talk with?
Rick Bowe with Wells Fargo (715) 491- 0628
0 votes Share Flag Tue Jan 28, 2014 Financing in Chippewa Falls
Shellie Mathe, Real Estate Pro in Oshkosh, WI
Shellie Mathe answered:
Can gift money be used to pay normal bills/groceries and "free up" regular income money to be saved for down payment during approval process?
Your Earnest Money is still your money and will be credited back to you at closing. So you are not short $2K of you down payment, it is just being held in a trust account for you.

A ... more
0 votes Share Flag Tue Jan 21, 2014 Financing in Madison
Robert Hanson, Real Estate Pro in Silver Spring, MD
Robert Hanson answered:
Can traditional IRA distribution money be used toward 5% Down Payment?
Yes you can as long as you follow procedures and document it properly. If you are working with a lender, make sure that they know what you are doing and can specifically instruct you on ... more
0 votes Share Flag Mon Jan 20, 2014 Financing in Madison
Kaye Erdman, Real Estate Pro in West Bend, WI
Kaye Erdman answered:
Help us to get on the va approval list as a condo...only building in the assoc!!! No fees...sketchy condo docs!
I'm not sure a side by side can get VA approval. I'd suggest calling Shelli Ellis from Wells Fargo. If anyone can get you through the system for approval she can. Her phone is 262-893- ... more
0 votes Share Flag Fri Jan 3, 2014 Financing in West Bend
Elva Wormley, Real Estate Pro in San Jose, CA
Elva Wormley answered:
What are the best options for first time homebuyers with little to no down payment and some debt?
Hi Bethany,

Speaking with a local mortgage broker is your best option. They will be able to review your situation and find the best programs for you.

Best regards,

Elva A. Worm ... more
0 votes Share Flag Thu Jan 2, 2014 Financing in Amery
Phillip Harv…, Real Estate Pro in Madison, WI
Phillip Harvey answered:
Rural Housing Direct Loan and Verona
Chris, the Rural Housing Direct Loan program is the best kept secret in Verona! I am actually in the middle of a transaction involving a Rural Direct Loan program and done a lot of res ... more
0 votes Share Flag Sat Nov 23, 2013 Financing in Verona
and223kw, Home Buyer in Milwaukee, WI
and223kw answered:
90k loan with 50k down to buy a building
try a hard money lender. they might be better because it would not be based on your credit.
you could buy the property with hard money then refinance it with the bank after it's fixed ... more
0 votes Share Flag Thu Nov 7, 2013 Financing in 53214
Brian Nguyen, Real Estate Pro in Mission Viejo, CA
Brian Nguyen answered:
I will have enough for a down payment on a home in December when is the best time to start looking for a house?
First you should speak with a lender to apply for a loan and prequalify. When you apply for a loan, lenders like myself will need to look at several different things if you are trying t ... more
0 votes Share Flag Fri Oct 11, 2013 Financing in Marshfield
Rudy R. McDo…, Real Estate Pro in Bloomfield Hills, MI
Rudy R. McDowell answered:
I am desperately in need of a lenient lender to underwrite 90k loan. FHA will not look at me because of my unique situation. have a home & score
Hi, Monique

Based on your statement, outside of medical, you can't have any lates or collections after a BK. Especially if they are within the last 24 months. This guideline i ... more
0 votes Share Flag Wed Oct 9, 2013 Financing in Milwaukee
Simon Campbe…, Real Estate Pro in Miami Beach, FL
Simon Campbell answered:
Need somone to finance a mortgage of $60,000 for someone with a credit score of 606
To qualify for a traditional loan, you are going to need a minimum credit score in the 620 - 640 range. USDA loans with a credit score of less than 580 are denied if you have been late ... more
0 votes Share Flag Tue Aug 6, 2013 Financing in Minong
Jessica Bate…, Real Estate Pro in Los Angeles, CA
Jessica Bateman answered:
Is There any mortgage lenders that will lend to a score of 615?
Yes!! I work with a lot of people who have less than perfect credit. I tell all my clients that need a pre approval to visit The Lenders Network, I have seen loan approvals from them ev ... more
1 vote Share Flag Wed Jul 31, 2013 Financing in Milwaukee
Linda S. Cef…, Real Estate Pro in Oak Creek, WI
Linda S. Cefalu answered:
Can a parent or someone other than the buyer pay earnest money for the buyer in an FHA and/or Conventional loan transaction?
Great answers so far and do make sure you talk with lender asap. I have run into issues where the money needs to be in the account for a period of time - once it was as long as one mon ... more
0 votes Share Flag Mon Jul 29, 2013 Financing in Milwaukee
Self Employed…, Real Estate Pro in Los Angeles, CA
Self Employed Mortgage Loans answered:
Getting approved for a loan when switching from w2 income to self-employed
Everyday we speak to self-employed people here in California that are successful and have good credit but are routinely turned down by banks and brokers when applying for a loan to purc ... more
0 votes Share Flag Thu Jul 25, 2013 Financing in 53045
Lori Lorraine…, Home Buyer in Kenosha, WI
Lori Lorraine Irving asked:
Calculation breakdown for estimated monthly mortgage payments. Why do the listings for Kenosha, WI, on this site make reference to say i. e. $3,000 property tax prior year, but then under estimated payment calculations, show property tax per month of…
0 votes Share Flag Mon Jul 8, 2013 Financing in Kenosha
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