I receive daily updates on current mortgage rates in the Janesville Wisconsin area. One of those rates is for the WHEDA Home Loan. Todays mortgage rate showed a new historic low at 4.75%. These rates of course can and do change often so you will want to check with your bank to get the most up to the minute information. To give you an idea of how low this mortgage rate really is, consider this scenario. If you were to purchase a Janesville WI foreclosure property for $75,000 at a 4.75% mortgage rate, your mortgage payment with interest would be only $391. Say you purchased a Janesville WI short sale at $150,000 your monthly mortgage payment would be a reasonable $782. This is assuming no down payment.
If you are looking to purchase a bank owned/foreclosure/REO property, short sale or standard listing in Janesville WI, I would be happy to help assist you. I’ve listed details from one of the WHEDA loan programs below. Please refer to the WHEDA website for the most current home loan details.
Michael Collins, SFR
Short Sales & Foreclosure Resource
Janesville, WI
Are you a first-time buyer? Do you want an affordable home loan with a fixed rate and 100% financing? If so, then you are in luck. Wisconsin Housing and Economic Development Authority (WHEDA) has partnered up with Fannie Mae to bring affordable housing to qualified first-time buyers. You can find a link to WHEDA’s site on Rock Realty’s home page. Here are the features you will find on their site:
FEATURES AND BENEFITS
- Low cost, 30-year fixed interest rate – Ensures the rate on your mortgagewill never increase
- $1,000 minimum borrower down payment – Reduces the cash you need to close your loan
- Reduced mortgage fees – Your mortgage will cost less thanks to the elimination of fees commonly found with other traditional loan products
- If you involuntarily lose your job during the first two years of your mortgage, WHEDA’s job loss mortgage payment protection will cover up to six months of payments.
There are eligibility guidelines as well as income and purchase price limits to this program. You can find them on WHEDA’s site too. Buyers are required to take a home buyers seminar and pass the WHEDA pre-approval. These are good things. You should be educated on owning a home and the pre-approval verifies your ablility to own a home long term.
Rock Realty offers home buyers a 1 percent credit at closing. Follow the below link for further details!
Home Buyer Discounts
This communication is provided to you for informational purposes only and should not be relied upon by you. Rock Realty is not a mortgage lender and so you should contact WHEDA directly to learn more about its mortgage products and your eligibility for such products.
