Wisconsin Illinois Minnesota and Florida FHA Identity of Interest Transaction (family member to family member purchase)

There’s not a lot of information on this topic, so today I thought I would discuss what it is and what it means to you.

Not too long ago, purchasing a home from a family member and having them gift you equity so that you could get a better interest rate or lower loan to value was an easy task but that is no longer the case....

Are Wisconsin FHA Mortgages only for First Time Home Buyers?

This question has been asked of me several times this past month, so I thought I would write this to clarify for everyone.

First, lets start with the definition of a first time home buyer. Put simply, if you haven't owned a home in the past three years, you would be considered a Wisconsin first time home buyer.

Secondly and the answer to the question, FHA loans are considered...

Buying a Wisconsin home is probably the biggest purchase you'll ever make. Without the proper information, it can also be the most difficult. The following steps will prepare you for the responsibilities of owning a home as a first time home buyer.

Step 1: Getting Pre-Qualified
Pre-qualification, the first step in obtaining a mortgage, is a quick comparison of your household income, debts, employment and estimated house payments. This step walks...

Wisconsin FHA offers several different options to homeowners who are considering an FHA refinance mortgage:

FHA Rate and Term Refinance:
FHA refinance mortgage loans afford borrowers the ability to refinance any kind of mortgage loan that they now have with an FHA refinance. FHA refinances are becoming increasingly popular among homeowners trying to refinance out of subprime loans. Wisconsin FHA refinance loans have helped many homeowners who...