Wisconsin provides many home financing assistance programs through the Wisconsin Housing and Economic Development Authority (WHEDA). The Home Loan program offers below market, fixed rate financing to low-to-moderate income first-time homebuyers. The HOME Plus Loan program provides financing of up to $10,000 for down payment and closing costs, and a line of credit for future home repairs. Partnership for Homeownership is a program coordinated by both WHEDA and the US Department of Agriculture. It provides affordable home financing for Wisconsin’s rural residents. Once homebuyers have determined whether or not to use the services provided by WHEDA, they still need to follow the following steps in financing their home:
1. Choose a lender or mortgage broker.
A lender actually makes the loan. A broker acts as a go-between for a buyer and a lender. Don’t hesitate to ask friends or associates for recommendations. Ask the lender or broker for references if you need more input.
2. Submit your records.
A lender will ask for your financial records, including pay stubs for the last 30 days and three months of bank statements. You may also have to answer tough questions about your financial history. Be prepared: gather your financial documents ahead of time.
3. Check interest rates.
Interest rates tend to fluctuate. Follow interest rate news and if rates are low, you may ask your lender to lock-in, or commit to that rate, that day. Just make sure the lock-in period includes the day you close on the house and doesn’t incur extra charges.
4. Choose a loan.
You may think you want a 30-year, fixed-rate mortgage, but an adjustable-rate mortgage may be more appropriate for your circumstances.
Our featured Wisconsin Home Financing partners:
With interest rates at all-time lows, there has never been a better time to refinance.
Take advantage of getting additional cash out to improve your home, buy a new car, or pay for a child’s education. GuideToLenders.com will provide you with competitive loan quotes from up to four lenders. Different types of refinance loans offered are 30-year fixed, 15-year fixed, adjustable rate, and interest only. You’ll receive the best rates and options available, regardless of your credit. It takes less than a minute to apply, and you have nothing to lose. Find your refinance loan right now.
Shopping for a loan has never been easier. MoneyNest is an online loan marketplace that allows you to send a single application to over 400 lenders. Submit your application and get access to low rates on a second mortgage, refinance, home equity line of credit, or a home improvement or debt consolidation loan. Get up to 4 FREE quotes.
Countrywide Home Loans
Qualified homeowners – even those with less-than-perfect credit – may now access their home’s equity to get cash, consolidate debts, and lower monthly expenses. Countrywide Home Loans may also help applicants who are self-employed or have high consumer debt. We offer competitively priced home loan programs, including fixed rate, adjustable rate, refinance and home equity loans.
DebtWave Credit Counseling, Inc.
DebtWave Credit Counseling, Inc. offers a program to its clients that enables them to repay their debt in a timely fashion. We specialize in working primarily credit cards; however, we are usually able to assist clients with any bills that are considered to be unsecured. Below is a list of benefits that we are typically able to obtain for our clients:
– Reduce your interest rates
– Lower your monthly payment
– Consolidate into one monthly payment
– Eliminate late & overlimit fees
– Stop harassing phone calls (if behind)
Our featured partner for Investment Assistance:
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