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Mortgage and Lending - MadisonMortgageGuys
Serving Wisconsin, Illinois, Minnesota, and Florida, we offer first time home buyer programs, cash-out refinance, jumbo loans, no money down, current mortgage rates, refinance, 100% financing, interest-only, investment, HomeStyle renovation, FHA 203k rehab loans, VA refinance, reverse mortgage, FHA mortgage loans, VA loans and rural housing loans. Visit us online at https://www.madisonmortgageguys.com
RECENT BLOG POSTS
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
In the first two portions of this series we discussed the people that are eligible for a VA loan as well as how to acquire the Certificate of Eligibility.  Today's article will describe the VA Funding Fee. A common misconception is that the VA offers home loans.  This is not true.  The Veteran's...
09/17/2010
Welcome to the second installment of our series on How to Get a VA Home Loan.  Part 1 described the different groups of people that can apply for a VA home loan.  Today we will discuss the VA Certificate of Eligibility. In this modern day of countless choices and opportunities, the Veteran's Adm...
09/09/2010
How to Get a VA Home Loan in Illinois, Wisconsin, Minnesota and Florida - Part 1: Who is Eligible? We are starting a 5 part series that will explain the basics of a VA home loan.  This first installment will explain who is eligible for a VA home loan. There are different classifications of peopl...
08/30/2010
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