Appleton Wisconsin Mortgage & Real Estate Resources: New Opportnities For Wisconsin Home Buyers - Up To 100% Financing for Mid-Income Families

When A Window Closes . . . A Door Opens - Income Limit Increase Pave A Way For Wisconsin Home Buyers.

On Monday, the Wisconsin USDA office in Stephens Piont announced an income structure change that will pave a road to home-ownership for thousands of home buyers. Prior to the change, income limitations were broken into eight (8) tiers. Each tier representing a household income limitation based upon the number of people residing in the home. The new structure will provide much more versatility by going to a two (2) tier banding structure.

What does this mean to you?  Here is an example. This will vary from state to state and county to county within each state.

Previously, in Brown County, Wisconsin, the income limits for a one-person household was $52,000 to qualify for a loan.  The income limits for a household of four members was $74,300.  Under the new structure, that same one-person household could have an annual salary that falls between the one- to four-person income band, allowing for more applicants to qualify.

Important point- There are pockets of qualified areas within each state that abut major metro areas. For example here in Wisconsin in Waukesha County, the following communities fall within the qualified areas: Dousman, Wells, Delafield, Hartland, Sussex, North Prairie, Big Bend and Franklin to name a few.

Dane, Pierce and St. Croix Counties limits increased to $88,400 for tier 1.
NOTE: The limit figures are from the previous structure and new figures are not currently available.  More will be announced as soon as the change is officially enacted.

I encourage you call  my office TODAY to get pre-approved for this great home loan program. 920-858-1203 - I guarantee you will be glad you did. This is a great loan program and is not limited to first-time home buyers. Together with the first-time home buyer tax credit, this program is a winner.

Here are some IMPORTANT highlights of the program: 

• NO Down Payment
• NO Monthly Mortgage Insurance
• NO Cash Reserves Required
• Competitive 30 year fixed rates - no penalties - no funny stuff
  
  
• Prior Bankruptcy, Short Sale, Foreclosure OK with 620+ Credit Score  -
  
  
• NO Maximum loan amount or purchase price - Loan amount are only limited to the applicants repayment ability and appraised value!
• Used for Purchase of Existing Home, New Construction and New Manufactured Homes.
• NO Limitation on source of closing costs -100% gifted closing cost or down payment assistance PERMITED - Soft 2^nd Mortgages are allow for closing costs, even if the total debt exceeds the appraised value.
• Finance up to 102% of Appraised Value for closing costs and loan fees -
• Seller Concessions Allowed

If I were you, I would be jumping off that fence! Oh look . . . I am here ready jump with you and assist in getting you qualified and on your way to the closing table.

Let's Go! If I can be of help to anyone wanting more information on this great program for home buyers, please feel free to shoot me an email.

Consultations and Pre-Qualification are always NO CHARGE - If you need help improving your credit, I am your gal.  

Gwenn Tanvas is a Certified Mortgage Planning Specialists who specializes in Credit Restoration and Government Programs such as FHA, State and Federal VA and USDA Rural Housing Loans. Visit her website for more information, on-line calculators and a secure on-line application. She is able to assist with transaction throughout the state of Wisconsin. Her offices are located in Appleton, Oshkosh and Green Bay and offers the convenience of one-stop shopping. http://www.WisconsinLoanTips.com or http://www.MortgageProsOfWisconsin.com she can also be reached for comment or to answer questions via email at gwennt@centurytel.net