Milwaukee Mortgage Market
Stay up-to-date with Team Get It Done and the Mortgage Market with these short videos. Alternately, the transcripts are posted below each video.
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Earnest money is effectively a “good-faith deposit.” It’s like saying “Here is my offer to purchase, and here is some money to go along with it, just to let you know that I’m serious.” Now the amount that you put down does matter. It’s generally due within 3 days of your Accepted Offer to Purchase. The 3 days is a variable; [...]
What is prepaid interest? Well, first you need to understand that all mortgages throughout the country work the same way. They start on the first day of the month, and they end on the last day of the month. Then your payment is due. So for a mortgage, you are always paying in “arrears,” for the month that you previously lived [...]
Seller Concessions is just a fancy word for Seller-Paid Closing Costs. So how does it work? Well, when you make your offer, you have to actually put in writing that the seller will pay for “x” amount of your closing costs. It has to be a finite number; you can’t just say “you’re going to pay for it.” So as an [...]
Hi everyone, I’m Jim Ryan with Team Get It Done. So “Why Refi Now?” Couple reasons: Rates are super low right now compared to what they’ve been over the last couple of years. So if you have a rate of 4% or higher, it may make sense to refinance right now. It depends if you want to save money monthly or [...]
Hi this is Jim Ryan with Team Get It Done. Happy Cinco de Mayo and a quick refi update! So, I have a current client who is 7 months pregnant (well they are 7 months pregnant), and they have a baby that will be born in July. They currently have an FHA loan that has a balance of $160,929. They have [...]
Hi, I'm Jim Ryan with Team Get It Done, and this is a quick refi update. If you have an FHA loan and have owned your house for over 2 years, just a reminder that the appreciation rate in Wisconsin is over 5%. So depending how long you have owned your property, you might be in a position where you can [...]