Friday, December 30, 2011

HUD extends anti flipping through 2012

The FHA anti-flip waiver is supposed to allow you to actually purchase a newly remodeled home from an investor who just purchased the property less than 90 days ago.

Sounds great, right? Well not so fast. Just because FHA says it’s not a problem doesn’t mean every lender feels the same way.

There are a lot of companies that have major overlays to either prevent this waiver or a big increase in the documentation needed to do this type of loan. So before you buy a newly flipped house with your FHA loan you will need to find out when the seller purchased the property and the amount of repairs done to the property. This will make a big difference to your loan originator on what lender he or she can lock your loan with.

Once you know for a fact that the loan originator you have chosen has an investor who can do these type of loans you should be good to go, and this can be a great way for you to buy a newly remodeled home without having to worry about the hassle of doing the remodel yourself.

Can’t find a lender in your area who can do these loans? Contact me, and I will help you out.

Now if the seller has already owned the property for over 90 days, there is no need to worry. You can purchase the property like the normal FHA transaction.

I do want to point out that USDA, VA and conventional loans do not have any seasoning issues or time frame after the investor bought the property. Technically, FHA doesn’t either, but like I said, overlays could be a killer with your lender. So if you can’t do FHA, look at your other options.

Keep this in mind when you are looking at newly remodeled or flipped properties.

Thursday, December 29, 2011

Week 35 Packers vs Lions contest to win a Dairy Queen gift card.




Post your predictions on http://www.facebook.com/gsfron to win a $10 Dairy Queen gift card.

Give me a call if you are looking to purchase or refinance. Rates are great right now.

Have a Happy New Year

Tuesday, December 27, 2011

Top 10 questions to ask when hiring a Wisconsin Real Estate Agent



Hi, I am Ron Meyer, a mortgage loan consultant with GSF Mortgage.

Now that you preapproved to purchase a home the next important step is to hire a Wisconsin Real Estate Agent.

Here are the top 10 questions to ask when hiring a Wisconsin Real Estate Agent.
1. Do you work full-time or part-time?
2. How long have you been in the real estate business?
3. How many real estate transaction’s have you done in the past year?
4. What hours are you available and do you work nights and weekends?
5. How quickly can you get me into a home? Hot homes move fast.
6. How well do you know the area(s) I am interested in?
7. Can you give me a comparative market analysis also called a (CMA) of recent sales in the area and homes currently on the market?
8. Will you show me all the properties for sale including those for sale by owner?
9. How many foreclosure or short-sale transactions have you handled?
Distressed properties can be great deals, but the paperwork is complicated.
10. Will you handle all aspects of my transaction, or will I be working with others as well?

If you liked this information or found it helpful, please email it, forward it, or share it with others who might like it.

Friday, December 23, 2011

Week 34 Packers vs. Bears to win a Subway gift card. Merry Christmas



Guess the total points scored in the Packers vs Bears game to win a $10 Subway gift card. Post your predictions below the comments to the week 34 video on my facebook page at http://www.facebook.com/gsfron.

Merry Christmas,

Tuesday, December 20, 2011

Top questions to ask a lender when looking for a Wisconsin mortgage.



Hi, I am Ron Meyer a mortgage loan consultant with GSF Mortgage.

Today, I’m going to talk a little about how to find the best lender for your mortgage.

The first thing to do even before you begin to look at homes is to get preapproved for a mortgage and find a lender.
Here are the top questions you’ll want to ask when interviewing a loan officer to make sure they can meet the needs of you & your family.
1. First, ask How long have you been in the mortgage business?
Be wary of newbies. Anybody with less than three years of experience could cause you extra anxiety and possibly a declined loan due to not knowing the underwriting guidelines.
2. Ask Why is this loan the best one for me?
This question is a great way to gauge how knowledgeable the loan officer is on all types of loans. If they are not able to provide you with a detailed answer, it could mean that they are not considering the best possible loan option for you or have not considered all the alternatives.
3. Should I pay closing costs or take a higher rate with less costs?
If you have an idea of how long you plan on being in your new house, your loan officer should be able to run a break even analysis to find out if you should take a low interest rate and pay closing costs or a higher interest rate with little or no closing cost.
4. What hours are you available?
You should want someone who will work as many hours as it takes to get your loan done, not someone who is content with only working nine to five. The more time your loan officer is available, the quicker you will be able to sign.
5. Do you have your own loan processor? Some lenders originate and process their own loans. This can delay the process if they have a lot of loans to get closed. The busier they are, the slower each one will be. It’s much more efficient if your lender has a processor to assist.
6. What is your underwriting turnaround time? Ask the loan officer how long it will take for their underwriter to look at your paperwork to determine what else is needed to get your loan closed. 72 hours is pretty standard. I have heard of lenders taking 30 days to look at files. Find out first!
7. How do you keep me informed how things are going during the underwriting process and what is needed? Your lender should have a system in place to keep everyone involved in the process up to date and when items are needed.

If you liked this information or found it helpful, please email it, forward it, or share it with others who might like it.

Friday, December 16, 2011

Week 33 contest to win a Cousins Subs gift card



Welcome to my week 33 contest. This week guess the total points of the Packers Chiefs game. Goto gsfron on facebook select like at the top of the page and post in the comments section under week 33 your prediction.

One winner whoever guesses the closest will win a $10 Cousins gift card. Only 1 entry per person and all entries must be received before the start of the game.

Alright let’s get to this weeks open houses on Sunday December 18th.

I picked out a couple of excellent homes to see in Greenville

First up is an Open house from 11 to 12
At W7285 Midnight Way
This home is a brand new construction 3 bedrooms with 2 baths with an attached 3 car garage and is 1711 sq ft.
Listing price $234,900

Next is an Open House in Greenville from 12:30 to 1:30
at W7246 Dover Ct
This home has 3 beds with 2 baths is 1623 sq ft with an attached 3 car garage
Listing price $210,000

If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Have a great weekend and Happy House Hunting

Thursday, December 15, 2011

Helpful tips on the home buying process

I will be putting together a video series of helpful tips on the Wiscon home buying process and information on your Wisconsin mortgage process. If you have a particular question or topic you would like to know more about give me a call at (920) 788-9608 or email me rmeyer@gsf-mortgage.com

http://www.getapprovedfast.com/index.asp?pid=81

Friday, December 9, 2011

Week 32 Packers vs. Raiders to win a Dairy Queen gift card.



Hi

I’m Ron Meyer and I’m a mortgage loan consultant with GSF Mortgage in Little Chute, WI.

Welcome to my week 32 contest. This week guess the total points of the Packers Raiders game. Goto gsfron on facebook select like at the top of the page and post in the comments section under week 31 your prediction.

One winner whoever guesses the closest will win a $10 Dairy Queen gift card. Only 1 entry per person and all entries must be received before the start of the game.

Alright let’s get to this weeks open houses on Sunday December 11th.

I picked out a couple of excellent homes to see in the area

First up is an Open house in Neenah from 11 to 1
At 187 Villa Dr
This home has 3 bedrooms with 2 baths with an attached 2 1/2 car garage and is 1724 sq ft.
Listing price $149,900

Next is an Open House in Neenah from 12:30 to 1:30
at 425 Lowell Pl
This home has 3 beds with 2 baths is 1420 sq ft with an attached 2 car garage
Listing price $129,900

If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Have a great weekend and Happy House Hunting

Tuesday, November 29, 2011

Wisconsin home sales increase 29.5% in the 3rd quarter

Wisconsin home sales increased 29.5% over last year. The National Association of Realtors announced their 3rd quarter housing report and every state had an increase compared to the 3rd quarter of last year.

This is great news for our local economy.

With interest rates at record lows now is a great time to be looking to purchase a home. Give me a call today at (920) 788-9608 to get preapproved or you can apply online at https://www.getapprovedfast.com/application.asp

Friday, November 18, 2011

Week 29 Packers vs Buccaneers contest



Welcome to my week 29 contest. This week guess the total points of the Packers Buccaneers game. Goto gsfron on facebook select like at the top of the page and post in the comments section under week 29 your prediction.

One winner whoever guesses the closest will win a $10 Cousins Subs gift card. Only 1 entry per person and all entries must be received before the start of the game.

Alright let’s get to this weeks open houses on Sunday November 20th.

I picked out a couple of excellent homes to see in the area

First up is an Open house in Appleton from 11 to 12 by Tracy Curtin
At 35 Bellevue Pl
This home has 3 bedrooms with 2 ½ baths with an attached 3 car garage and is 3136 sq ft.
Listing price $287,900

Next is an Open House in Appleton from 12 to 1 by Brandon Landro
at 5019 N Haymeadow Ave
This home is brand new construction with 4 beds with 3 ½ baths is 3613 sq ft with an attached 2 1/2 car garage
Listing price $279,900

If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Have a great weekend and Happy House Hunting

Wednesday, November 16, 2011

Wisconsin mortgage refinance available now if you owe more than your home is worth

Looking to refinance your Wisconsin mortgage but can't because you owe more than your home is worth? I have a loan program that will allow you to refinance and take advantage of todays historically low rates.

"Freddie Mac & Fannie Mae have adopted changes to the Home Affordable Refinance Program (HARP) and you may be eligble to take advantage of these changes."

"If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP."

"You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites:
www.freddiemac.com/mymortgage or http://www.fanniemae.com/loanlookup/.

If your home isn't eligible for this program and you have an FHA mortgage loan contact me today to see if you are eligible for a streamline refinance without appraisal.

I can be reached at (920) 213-0428 cell or via email at rmeyer@gsf-mortgage.com

Friday, November 11, 2011

Week 28 Packers vs. Vikings contest



Welcome to my week 28 contest. This week guess the total points of the Monday Night Packers Vikings game. Goto gsfron on facebook select like at the top of the page and post in the comments section under week 28 your prediction.


One winner whoever guesses the closest will win a $10 Cousins Subs gift card. Only 1 entry per person and all entries must be received before the start of the game.

Alright let’s get to this weeks open houses on Sunday November 13th.
I picked out a couple of excellent homes to see in the area

First up is an Open house in Neenah from 1 to 2 by Sherry Curtis
At 1136 Golden Field Rd
This home has 3 bedrooms with 2 baths with an attached 2 car garage and is 2181 sq ft.
Listing price $168,900

Next is an Open House in Little Chute from 11 to 1 by Mike Karisny
at 1437 Plains
This home is brand new construction with 3 beds with 2 baths is 1355 sq ft with an attached 2 car garage
Listing price $159,900

If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Have a great weekend and Happy House Hunting

Thursday, November 3, 2011

Week 27 Green Bay Packers vs San Diego Chargers contest

Week 27 Green Bay Packers vs. San Diego Chargers contest to win a $10 Dairy Queen gift card. Goto http://www.facebook.com/gsfron and post your predictions how many total points will be score in the game and you are automatically entered. Check out this weeks open houses on Sunday November 6th. Interest rates and home prices are very low. Give me a call or email me about getting preapproved for a mortgage today at (920) 788-9608 or rmeyer@gsf-mortgage.com.
jkjl

Tuesday, October 25, 2011

Buy a home now or save more for downpayment



Today I will be discussing if it makes sense to purchase now or wait to save up a larger downpayment.


With home prices and interest rates at very low levels it doesn't make sense to hold off.

Let’s assume that over the next year you are going to be able to save $500 per month for a total extra down payment of $6,000 next year.

rate and payments are for illustration purposes and are a principal and interest payment. This payment doesn't include taxes, insurance, or monthly mortgage insurance. Contact me if you would like to know your exact loan payment scenario and apr.

 Let’s use the following scenario,
Purchase Price $150,000
Putting the minimum 3.5% down at a 4.5% 30 year fixed rate.
$735 monthly payment Total interest over 30 years is over $119,000

Next year putting an extra $6,000 down
Rate at 5%
$745 monthly payment. Total interest over 30 years is over $129,000
Rate at 5.5%
$788 monthly payment. Total interest over 30 years is $145,000

It doesn't make sense to wait and save up a larger downpayment. This illustration was that mortgage rates are going up which is the most likely scenario. It doesn't also take into account that the home you are looking at today is going to cost you more next year.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Friday, October 21, 2011

4.025% APR on 30 year fixed rate

Rates are at all time lows. If your current interest rate is 5% or higher you should definately see if refinancing makes sense. With interest rates this low and the current prices of homes now is an excellent time to purchase a home. Give me a call today to get preapproved or see if a refinance is right for you at (920) 788-9608 or apply online at http://www.getapprovedfast.com/

Todays rates are:
30 year fixed rates 4% 4.025% APR
15 year fixed rates 3.375% 3.784% APR
5 year arm 2.75% 3.066% APR

All rates based off a $165,000 loan amount, 20% down or equity required, 740 credit score, owner occupied single family residence with escrows, and no subordinate financing. APR is subject to change.

Depending on the loan program we can lend to as low as a 620 credit score and certain areas still offer 100% financing no money down loans.

Friday, October 14, 2011

Milwaukee Brewers World Series contest



goto http://www.facebook.com/gsfron and enter your predictions how many runs the Milwaukee Brewers will score in the World Series to win a Randy Wolf bobblehead and a T Plush towel.

Friday, August 5, 2011

Week 15 Brewers contest to win a Subway Gift card. Aug 7 open houses

Hi


I’m Ron Meyer and I’m a mortgage loan consultant with GSF Mortgage in Little Chute, WI.

Welcome to week 15 of the Brewers contest. Guess the total runs the Brewers will score in the series against the Pirates on August 12-14th Goto gsfron on facebook select like at the top of the page and post in the comments section under week 15 your prediction.

One winner whoever guesses the closest will win a $10 Subway gift card. Only 1 entry per person and all entries must be received before the start of the first game.

Alright let’s get to this weeks open houses on Sunday Aug. 7th.
I picked out some excellent homes to see in Neenah & Appleton

First up in Neenah is an Open house from 1:30 to 2:30 by Tami Sankey
at 1365 Harvest Moon Dr.
This home has 3 bedrooms with 2 full bath with a 3 car garage and is 1867sq ft.
Listing price $214,900. This home is a short walk from my house. I might even bake you some cookies and deliver them after you move in.

Next is an Open House from 2 to 3pm by Nancy Bush
at 2213 W Prairie Creek Dr
This home has 4 beds with 2 and a half baths is 2273 sq ft with a 3 car garage.
Listing price $215,900

In Appleton is an open house from 12:30 to 1:30 by Carol Heinz
At w6567 Landon Dr
This home has 4 bedrooms 2 full and 2 half baths, 3 car garage and is 2916 sq ft
Listing price $309,900.

Lastly in Appleton is an Open house from 2 to 3pm by Mike Christianson
At 2321 W Twin Willows Dr
This home has 4 bedrooms with 2 full and 2 half baths with a 2.5 car garage and is 3233 sq ft.
listing price $299,900.

If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Have a great weekend and Happy House Hunting

Friday, June 24, 2011

Week 9 Brewers contest ends July 1st Open Houses June 26th



Welcome to week 9 of the Brewers contest. This week guess the total runs the Brewers will score in the series against the Minnesota Twins on June 24th to 26th. Goto gsfron on facebook select like at the top of the page and post in the comments section under week 8 your prediction.


All correct entries will be entered into a drawing and 1 person will win a $10 Subway Gift Card. You must guess the correct total runs scored by the Brewers. Only 1 entry per person and all entries must be received by 6pm central time June 24th.

Alright let’s get to this weeks open houses on Sunday June 26th.

I picked out some excellent homes to see in Kaukauna

First up in Kaukauna is an Open house from 3 to 4 by Mau Realty
at 117 Woodland Ct
This home has 3 bedrooms with 1 bath with 2 ½ car garage and is 1200 sq ft.
Listing price $119,500


Next is an Open House from 1 to 4pm by realon
at 1408 Glenview
This home has 3 beds 1 full bath and is 1280 sq ft with 2 car detached garage.
Listing price $124,500

In Menasha is an open house from 2 to 3. by Bonnie Brandenburg
At 717 Appleton St
This home has 3 bedroom 1 bath with dettached 2 and a half car garage and is 1388 sq ft
listing price $106,900.


Next is an Open house from 12:30 to 1:30 by Diane Boucher
At 915 Harding St in Menasha
This home has 3 bedroom 1 bath 2 and a half car garage and is 1552 sq ft.
Listing price $127,900.


If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Have a great weekend and Happy House Hunting

Friday, June 17, 2011

Week 8 Brewers contest & Open Houses June 19th



Welcome to week 8 of the Brewers contest. This week guess the total runs the Brewers will score in the series against the Minnesota Twins on June 24th to 26th. Goto gsfron on facebook select like at the top of the page and post in the comments section under week 8 your prediction.


All correct entries will be entered into a drawing and 1 person will win a $10 Subway Gift Card. You must guess the correct total runs scored by the Brewers. Only 1 entry per person and all entries must be received by 6pm central time June 24th.

This weeks open houses on Sunday June 19th.

I picked out some excellent homes to see in Neenah & Appleton

First up in Neenah is an Open house from 10:30 to 11:30 by Dawn Christensen
at 2424 Marathon Ave
This home has 4 bedrooms with 2 and a half baths oversized attached 3 car garage is on a wooded lot and is 3034 sq ft.
Listing price $249,900

Next is an Open House from 2 to 3pm by Sue Bohlen
at 3634 Fairview Rd in Neenah
This home has 3 beds 2 full baths and is 1524 sq ft with 2 car garage and 1200 square foot shop on 3.36 acres.
Listing price $239,900

In Appleton is an open house from 12:00 to 1:00 by Tami Sankey
At 4729 W Chicory Lane
This home has 4 bedroom 2 and a half baths with attached 3 car garage and is 2925 sq ft
listing price $259,900.

Next is an Open house from 12:30 to 1:30 by Eric & Michelle Bockhorn
At 316 E Carrington Lane in Thornbrook Estates in Appleton
This home has 4 bedroom 3 and a half baths and is 3006 sq ft.
Listing price $264,900.
If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Have a great weekend and Happy House Hunting

Wednesday, June 15, 2011

Making An Offer

MAKING AN OFFER

Buying a home may be the largest single purchase you will ever make. Such a major step requires exceptional care and planning. As the prospective buyer, you and the seller will be entering into a series of legally binding contracts, such as a Purchase & Sales Agreement. To avoid any potential misunderstandings over contractual liabilities and ownership issues when purchasing a home, the safest and most cost effective course you can take to protect your

investment is to seek well- qualified professionals to guide you through the contractual process. Listed below are a few points you may want to consider when making an offer on a home.

What do I need to consider when making an offer on a home?

As a home buyer you will need to understand your contractual liabilities and obligations when making an offer on a home. You should pay particular attention to the terms and conditions written in the Purchase & Sales Agreement. By signing a Purchase & Sales Agreement you are entering into a legally binding contract. If you do not live up to your part of the agreement, you may forfeit part or all of your deposit and could be subject to additional financial costs.

What is the Purchase and Sales Agreement?

A Purchase and Sales Agreement (P&S) is a written offer explaining your terms and conditions for purchasing a property. The P&S spells out a basic description of the property, the terms and conditions of the sale, and a projected date or time frame for the closing. Typically, the real estate agent will offer a standard P&S form to which any special conditions may be added, such as specific appliances you want included in the purchase price. It is highly recommended that a contingency for a satisfactory home inspection be included. Neither party should enter into a P&S without being absolutely certain they understand and agree to its contents. Remember that no "understanding" or agreement is enforceable unless it is written into the P&S. The safest course is to have a lawyer review the agreement before it is signed.

As the buyer, you should review the language in the proposed P&S carefully and take the time to discuss any questions with your own agent and/or a lawyer. When the P&S is acceptable, sign it and return the contract with a deposit. To accept your offer the seller will also sign the P&S, at which point the contract becomes legally enforceable.

If you have any questions about making an offer, please give me a call.

Oh, By the Way…whenever you come across people who are thinking about buying, selling or refinancing a home and would appreciate the same level of service I provide to you, please forward their name and telephone number to me. I will gladly follow up and offer them the high-quality service you currently receive!

Ron Meyer
GSF Mortgage Corporation
920-788-9608
920-213-0428 cell
rmeyer@gsf-mortgage.com
http://www.getapprovedfast.com/
www.twitter.com/gsfron
www.facebook.com/gsfron

I am giving away a Bernie Brewer lawn ornament July 1st on Facebook.


© 2007 GSF/HBRC

Friday, June 10, 2011

win a Bernie Brewer lawn ornament. Week 7 Brewer contest.



Don't forget to like us on Facebook for your chance to win a Bernie Brewer lawn ornament. If I get 200 likes I will giveaway on July 1st. Just like on facebook and click on the bernie brewer photo at the top and like it.

Week 7 Brewers contest ends June 17th. Open houses for Sunday June 12th.

Welcome to week 7 of the Brewers contest. This week guess the total runs the Brewers will score in the series against the Boston Red Sox on June 17th to 19th. Goto http://www.facebook.com/gsfron select like at the top of the page and post in the comments section under week 7 your prediction.


All correct entries will be entered into a drawing and 1 person will win a $10 Subway Gift Card. You must guess the correct total runs scored by the Brewers. Only 1 entry per person and all entries must be received by 6pm central time June 17th.

Open houses on Sunday June 12th.

First up in Appleton is an Open house from 1:30 to 2:30 at 3609 Trillium Lane
This home has 4 bedrooms with 2 and a half baths attached 3 car garage and is 3335 sq ft.
Listing price $277,700

Open House from 2 to 3pm  at 19 Meadowbrook Ct. in Appleton
This home has 4 beds 2 and a half baths and is 2940 sq ft with 2 and a half car garage.
Listing price $279,900

In Combined Locks is an open house from 12:30 to 1:30 at 614 Marcella St
This home has 3 bedroom 2 baths with detached 2 car garage and is 1530 sq ft
listing price $114,900
Open house from 1:30 to 2:30 at 150 S James St in Kimberly
This home has 8 bedroom 1 with and is 1922 sq ft.
Listing price $99,900.

If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Thursday, June 9, 2011

Understanding Mortgage Insurance

UNDERSTANDING MORTGAGE INSURANCE

If you put less than 20% down on the purchase of your property, you could be required to pay for mortgage insurance in addition to your mortgage payment. Mortgage insurance, (sometimes called private primary mortgage insurance, private mortgage insurance, or PMI) protects the lender in the event that you default on the loan. The premium is typically added to your monthly mortgage payment as part of your principal, interest, taxes, and insurance (PITI). The less you put down, the higher the monthly premium and vice versa. First-time home buyers with limited income are often shocked by the monthly cost of mortgage insurance. Mortgage insurance companies have come up with a couple of ways to take the sting out of the PMI premium.

Lender Paid Mortgage Insurance: Mortgage insurance companies give a discounted rate for lender paid mortgage insurance. The lender pays the entire amount upfront and passes the cost on to the borrower through a higher interest rate. Even with this higher interest rate, the borrower’s monthly payment is often lower than options where the borrower pays monthly mortgage insurance in addition to their mortgage payment.

Financed/Borrower Paid Mortgage Insurance: A one-time premium is added to the amount of the first mortgage resulting in a slightly higher mortgage payment, but still a considerable cost savings over making the mortgage insurance payments separately. These loans often include a loan-to-value over 100%; however, the mortgage, including financed mortgage insurance, is fully insured by Mortgage Insurance companies. Borrowers retain the option to cancel mortgage insurance according to lender guidelines and receive a refund of the unamortized portion. Lower monthly payments allow borrowers access to a higher mortgage or more expensive home.

Government Insurance: While shopping for a mortgage, you may hear about federal mortgage insurance programs that offer lower down payment requirements than conventional mortgage products. Your lender will underwrite, process, and close your loan, which is then insured by the specific government program. Here are a few government insurance programs you should ask about.

• Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD) that provides mortgage insurance for residential mortgages and sets standards for construction and mortgage underwriting.

• Veterans Administration (VA): A federal agency that, among other things, helps eligible veterans purchase housing at an affordable interest rate and term and low mortgage insurance premiums.

If you have any questions about mortgage insurance, please give me a call.

Oh, By the Way…whenever you come across people who are thinking about buying, selling or refinancing a home and would appreciate the same level of service I provide to you, please forward their name and telephone number to me. I will gladly follow up and offer them the high-quality service you currently receive!

Ron Meyer
GSF Mortgage Corporation
920-788-9608
920-213-0428 cell
rmeyer@gsf-mortgage.com
http://www.getapprovedfast.com/
www.twitter.com/gsfron
www.facebook.com/gsfron like on facebook and your automatically entered to win a Bernie Brewer lawn ornament.

© 2007 GSF/HBRC

Sunday, June 5, 2011

What a mortgage payment consists of when buying a home in Wisconsin

HOME BUYER ADVISOR

 Information you need to find the best home and the best loan in Wisconsin 

Mortgages 101

One of the reasons that buying a home is such an emotional experience is because of the fact that not only do you have the actual house buying to deal with, but for most home buyers you also have the mortgage process to encounter. How smoothly this process goes depends greatly on the preparation of the buyer as well as the selection of an efficient mortgage company. To help you be as prepared as possible, read and refer back to the following advice during your mortgage process.

What a Mortgage Payment Consists Of:

1) Principal: The repayment of the original amount borrowed on a monthly basis.

2) Interest: The cost of borrowing the principal amount, repaid on a monthly basis.

3) Taxes: Real Estate taxes paid to a local government agency.

4) Insurance: Homeowners insurance on the home. Also any mortgage insurance, which is paid to protect the mortgage company.

The total of these items is known as the PITI (Principal/Interest/Taxes/Insurance) payment.

Types of Mortgages:

Fixed: A fixed term (for example, 15 or 30 years) as well as a fixed interest rate. The interest rate and term are fixed at the start of the mortgage. The monthly amount for the payment of principal and interest will not change during the term of the mortgage. Adjustable: Often referred to as an ARM (Adjustable Rate Mortgage). The interest rate on your mortgage will be adjusted up or down according to current interest rate levels. The monthly amount for your principal and interest payment will go up or down with these rate changes.

How Much Down?

One of the first questions that home buyers ask is "how much down payment are we going to need?" Unfortunately, there is no standard answer. Some buyers don’t put anything down, but as an average, most home buyers make down payments in the 5%-15% range, although your own personal situation may dictate more or less down payment. When you are factoring money for a downpayment, don't forget about closing costs, which will total in the 2-5% range, payable in cash at the time of closing.

If you would like more information about the mortgage process, please give me a call.

Oh, By the Way…whenever you come across people who are thinking about buying, selling or refinancing a home and would appreciate the same level of service I provide to you, please forward their name and telephone number to me. I will gladly follow up and offer them the high-quality service you currently receive!

Ron Meyer
GSF Mortgage Corporation
920-788-9608
920-213-0428 cell
rmeyer@gsf-mortgage.com
http://www.getapprovedfast.com/
www.facebook.com/gsfron
www.twitter.com/gsfron


© 2007 GSF/HBRC

Wednesday, June 1, 2011

Brewer lawn ornament giveaway.

Were you unable to get a Brewer lawn ornament figure? Here's your chance to get one for free. Just goto www.facebook.com/gsfron and like the page. Then click on the Brewer lawn ornament photo and like the photo of the Brewer statue. you will be automatically entered in the contest. Once I get to 200 likes I will be giving it away.


Good luck and Go Brewers!

GSF Mortgage Wisconsin Interest Rates June 1

Today's Rates for WI
Rates as of 6/1/11 at 11:35.
Conforming Interest Rates APR with no Points

30-year Fixed 4.375% 4.4%

20-year Fixed 4.125% 4.16%

15-year Fixed 3.5% 3.544% 

3/1 ARM 2.75% 2.963% 

5/1 ARM 2.75% 2.938%

7/1 ARM 3.125% 3.06%


Government Interest Rate APR

30-year Fixed 4.125% 5.01%

All rates based off a $165,000 loan amount, 25% down or equity required, 740 credit score, owner occupied single family residence with escrows, and no subordinate financing. APR is subject to change.

Tuesday, May 31, 2011

What to do now that you closed on your home.

Home Buyer Advisor
e Information you need to find the best home and the best loan f

What’s Next?

Congratulations, you’re a home owner! The pressure and anticipation of the home buying process is now in the past and you can look forward to years of enjoyment in your new home.
Protect Your Home
In all the excitement, it’s easy to forget to take steps to protect your investment and keep your family safe. Here are a few simple suggestions of things you should do as a new home owner:

· The day you move in, change the locks on all doors.
· Check the smoke detectors and install new batteries.
· Install fire extinguishers in the kitchen and the garage.
· Buy a first-aid kit and place it in a convenient location.
· Open a safe deposit box or purchase a fireproof safe to store important documents such as insurance paperwork, warrantees and loan documents.
· Take pictures or a video of the interior of your home with all of your belongings in place for insurance reasons, and store it in your safe deposit box.


Maintain Your Home

Most people find that taking care of their own home is relaxing and rewarding work. If your home inspector provided you with a maintenance plan when you purchased your home, use it as a checklist for your regular maintenance. Repairing small items as they occur can help prevent big repair bills.

A well maintained home will be more fun for you and your family to live in, and will retain its value and attraction to buyers if you wish to sell in the future. Here are some important maintenance areas to consider:

· Yard: Keep shrubbery cut back so that branches are at least two feet from the house, and keep tree branches ten feet away.
· Roof: Clean out the gutters in spring and fall, and more often if needed.
· Exterior: Stain decks and porches annually.
· Interior: Make sure that items stored in the attic aren’t blocking air circulation.
· Utilities: Have the heating system inspected and serviced every 6-12 months.

If you would like more information about home maintenance, please give me a call.

Oh, By the Way…whenever you come across people who are thinking about buying, selling or refinancing a home and would appreciate the same level of service I provide to you, please forward their name and telephone number to me. I will gladly follow up and offer them the high-quality service you currently receive!

Ron Meyer
GSF Mortgage Corporation
920-788-9608
920-213-0428 cell
rmeyer@gsf-mortgage.com
http://www.getapprovedfast.com/
follow me on Twitter at www.twitter.com/gsfron
Like on Facebook at www.facebook.com/gsfron
© 2007 GSF/HBRC

Friday, May 27, 2011

Are you not traveling this Memorial Weekend because of gas prices?

Are you staying at home due to gas prices this weekend? I keep hearing the media say people aren't traveling because of gas prices. I live in Neenah and a trip to Minneapolis is 566 miles round trip. I think that's a pretty lengthy travel for a weekend and most trips are quite a bit less.

If your car gets 20 mi/gallon that's 28.3 gallons used. With gas $1 more a gallon people are staying home for $28.30 vs. having fun with family and friends?

Is this true or is the media just trying to pitch a story that really isn't there? How about stay in a less expensive hotel, or maybe pack a lunch instead of eating out 1 night. Many options to choose over just not going. Life's too short, get out and have some fun.

I'd be interested to know if you or someone you know isn't traveling this weekend because of gas prices.

I hope everyone has a great Memorial Weekend and thank you to all those who have served.

Wednesday, May 25, 2011

Thursday, May 19, 2011

Brewers week 4 contest & open houses May 22nd



Week 4 Brewers contest. Post your predictions how many runs the Brewers will score against the Giants to win a $10 Subway gift card. Just goto www.facebook.com/gsfron select like at the top of the page and post your predictions in the comments below the week 4 video. Don't forget to check out this weeks open houses on Sunday May 22nd.

Friday, May 13, 2011

Week 3 Brewers contest and Open Houses Sunday May 15th.

Each week I will be posting a video featuring a couple of open houses in the Fox Valley area.


In addition you can enter for a chance to win a Subway gift card.

Just select like on facebook and post your predictions in the comments below the video of the total runs the Brewers will score in the upcoming series.

If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

Tuesday, April 26, 2011

Home Buying focus on your financial picture

HOME BUYER ADVISOR

 Information you need to find the best home and the best loan 

FOCUS YOUR FINANCIAL PICTURE

As soon as you have made the decision that you want to buy a house in Wisconsin, one of your first steps should be to make certain that you have a clear picture of your financial situation. At a minimum, you will most likely want to do the following:

• Run a Credit Report to make certain that there are no discrepancies in your credit history.

• Get everyone who will be involved in spending involved in developing a budget. Some of the items and info you will need to develop your budget are:

o All current monthly loan payments. All other monthly expenses (such as child care, dues, etc.).

o Records of variable expenses (such as utilities, food and car repair) from the last 12 months. This will give you an estimate of your monthly expenditures.

o Records of annual or semi-annual expenses (such as insurance and taxes).

o An estimate of what your new mortgage payment will be.

o Records of other non-fixed expenses (for example, medical expenditures) for the last year.

o Records or an estimate of personal expenses (entertainment, travel, etc.).

• Do an analysis of how a house purchase will affect your budget. Be sure to factor in not only mortgage payments (including insurance and taxes) but also funds for items such as repairs and maintenance.

• Begin to gather items such as: last 3 years’ Income Tax returns, current copies of pay stubs, records of any past derogatory credit history that has since been paid off, and records of any supplemental income you have. If you are self employed, you will need all business records and tax returns for the last 3 years. Having these items close at hand will save an enormous amount of time when your mortgage paperwork is being taken care of.

• If it is possible to do so without adversely affecting your down-payment situation, pay off minor debts. The less debt you have the easier your mortgage "sailing" will be.

• Do not incur any new debt. Since mortgages are based on debt to income ratios (the amount you pay out monthly versus the amount you bring in) a newly acquired debt could be enough to throw the ratios off and make the mortgage unobtainable.

If you would like more information on organizing your finances, please give me a call.

Oh, By the Way…whenever you come across people who are thinking about buying, selling or refinancing a home and would appreciate the same level of service I provide to you, please forward their name and telephone number to me. I will gladly follow up and offer them the high-quality service you currently receive!

Ron Meyer
GSF Mortgage Corporation
920-788-9608
920-213-0428 cell
rmeyer@gsf-mortgage.com
http://www.getapprovedfast.com/


© 2007 GSF/HBRC

Thursday, April 21, 2011

Home Buyer Education in May

Free!! Home buyer & seller education.


The Fox Valley Coalition is offering a free workshop for Home Buyers and Sellers. The benefits of the workshops are:
Understanding the home buying and selling process
Free Credit Report
One-on-one credit review
Certificate which provides extra benefits and lending options
HUD Approved

Must attend both sessions to receive a completion certificate

When: Tuesdays May 24th & 31st
Time: 5:30-8:30 PM
Where: Oshkosh Public Library

Reserve your seat today. Space is limited

Wednesday, April 20, 2011

Homebuying Checklist

HOME BUYER ADVISOR

 Information you need to find the best home and the best loan 

HOMEBUYING CHECKLIST

There are probably few things in life that are as exciting -- or as nerve- racking -- as the search for a house. All the good emotions and the bad emotions seem to converge when the house hunting begins. Don't worry, this is a normal reaction and is found in seasoned home buyers as well as those who are looking for their first home.

With an organized house buying plan, you can minimize a great deal of the emotional impact. One of the most important things you can do is to make a checklist as you search for, find and buy a home. By keeping on top of your game-plan at all times you will greatly increase your chances of success. Refer to the following home buying checklist frequently and let it increase your house buying effectiveness. Many of these topics will be discussed more in-depth in upcoming articles.

 Get your financial picture in focus first! We can't stress this enough--it will save you an enormous amount of time, aggravation and heartache. Determine what your budget will comfortably allow and stick to it.

 Get pre-approved for a mortgage. This will not only give you a clear idea of how much a lender will approve for you, it will make your homebuying process a great deal easier (and save a lot of time later!).

 Familiarize yourself with the mortgage process.

 Choose an Agent that you feel comfortable with and who understands your needs. If you look for houses before you have your own Agent, you may not have the representation you want.

 Get familiar with the inspection process, especially the personal inspection aspect, so that you can weed out unacceptable houses quickly.

 Determine your minimum requirements for your needs and wants. Take note of any items that you don't want in a house. This can be just as important as knowing what it is you want in a home.

 Don't just buy a home for your present needs. Make sure to take into account future considerations.

 As you are looking, use a scorecard to compare homes. A scorecard is a great tool when it comes time for comparisons and for remembering which home had which features!

For more homebuying advice, please give me a call.

Oh, By the Way…whenever you come across people who are thinking about buying, selling or refinancing a home and would appreciate the same level of service I provide to you, please forward their name and telephone number to me. I will gladly follow up and offer them the high-quality service you currently receive!

Ron Meyer
GSF Mortgage Corporation
920-788-9608
920-213-0428 cell
rmeyer@gsf-mortgage.com
http://www.getapprovedfast.com/


© 2007 GSF/HBRC

Friday, April 15, 2011

Home Buyer Education Class HUD Approved

Free!! Home buyer & seller education.

The Fox Valley Coalition is offering a free workshop for Home Buyers and Sellers. The benefits of the workshops are:

Understanding the home buying and selling process
Free Credit Report
One-on-one credit review
Certificate which provides extra benefits and lending options
HUD Approved

Must attend both sessions to receive a completion certificate

When: Tuesdays April 19th & 26th
Time: 5:30-8:30 PM
Where: Menasha Goodwill

Reserve your seat today. Space is limited
Call 920-232-0859

Thursday, April 14, 2011

Local city information

I am starting to create on my website individual city pages. I would love to hear your comments and input of what are some items to be included on each city page.

I have the following so far
Population
median age
median income
median home values
link to schools
link to homes for sale

Thanks

Friday, April 8, 2011

FHA, VA, and USDA loans would stop with Budget Impasse

Conventional Fannie Mae and Freddie Mac loans will still be available, but if the new budget plan is not passed Government lending will come to a halt including FHA and VA lending.

Here is a link to more information.
http://www.inman.com/news/2011/04/7/budget-impasse-threatens-fha-lending?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+inmannews+%28Inman+News+-+Headlines%29&utm_content

Friday, April 1, 2011

Unemployment lowest since March 2009

Unemployment dropped to 8.8% which is the lowest since March of 2009. 219,000 new jobs were created which beat the forecast of 195,000. Hopefully this trend will continue throughout the year.

Mortgage bonds are down a bit from yesterday causing lenders to raise interest rates late yesterday or today.

Wednesday, March 30, 2011

FHA Mortgage Insurance increases April 18th.

FHA monthly mortgage insurance premiums are going up 25 basis points starting April 18th.

If you are looking to refinance make sure your lender has a case number pulled prior to this date. You don't need to have the loan closed by then, just the case number assigned prior to April 18th.

If you are in the market to purchase a home by having your offer accepted prior to this date you will save yourself about $20 for every $100,000 borrowered per month. Don't wait until the 17th to get an offer accepted as it goes by the date FHA assigns a case number which takes typically about 1 business.

Thursday, March 24, 2011

Loan Officer Compensation Plan will cost good borrowers.

April 1st the new loan officer compensation plan takes place. Frank & Brian at Think Big Work Small http://tbwsdailyshow.com/ have had some excellent videos in the past couple weeks to discuss.

With the new changes the larger banks are going to bring in quite a bit more profit, pay loan officers less, and have higher rates for the good credit customers.

The March 15th video titled Senators rally to delay LO Compensation Fed Rule they make an excellent point about customers with excellent credit and a larger downpayment are going to be paying higher interest rates to make up for the others with lower credit scores and a smaller downpayment.
http://tbwsdailyshow.com/category/lo-compensation/

Monday, March 21, 2011

February existing home sales report

Existing homes sales dropped 9.6%. All cash sales came in at a record 33% increase. The national medium home price dropped 5.2% over last year. Investors are buying up homes and taking advantage of low home prices.

Rates and home values are very low. Investors are taking advantage of this, why aren't you? The time to buy is now.

I've heard the response of I'm not going to buy because the market is down and I'll get less for my home. Your $100,000 home lost 5.2 % so it is now worth $95,000. The new home you are buying for $200,000 is now at a bargain for $190,000. 

To view the full existing home sale report click the following link.
http://www.realtor.org/press_room/news_releases/2011/03/feb_decline

Spring is here. Time to get preapproved before house shopping.

Spring is finally here and many are starting to think about purchasing a home. Before you go out to look at homes it is a wise idea to talk with a lender and get preapproved. This way you know if you can qualify for a mortgage and if you don't your lender should give you some ideas of what you need to do to get pre approved. There is no sense in looking at homes, finding your dream home and then later finding out you are unable to get a mortgage.

Another reason to get preapproved is so you know how much you qualify for and what your monthly payments will be. Many have come to my office stating they want to buy for example a $150,000 house and can easily afford the $625 per month payment. I asked them how they came up with $625 for a monthly payment and they said I saw it on website X. Come to find out that payment was a principal and interest payment only putting 20% down and didn't include real estate taxes, home insurance, and monthly private mortgage insurance.

Give me a call today at (920) 788-9608 or you can apply online at http://www.getapprovedfast.com/

Tuesday, March 8, 2011

GSF Mortgage Corporation #2 in list of top local Mortgage Bankers

I'm excited to announce GSF Mortgage Corporation is #2 in list of top local Mortgage Bankers. Thank you to all of our customers. We couldn't have done this without you.

To view the entire article
http://www.bizjournals.com/milwaukee/blog/2011/03/top-of-the-list---mortgage-world.html

Thursday, March 3, 2011

Include the cost of repairs into your home purchase or refinance us to 110% of your home value.

203k FHA rehabillitation mortgage for Wisconsin home purchases or refinances.


Are you looking to purchase or refinance your Wisconsin home but can't due to the home needing repairs? With an FHA 203k rehabilitation loan you can finance the costs of the needed repairs into the loan. Your appraised value is based on what the home will be worth after the repairs are completed. On our FHA Streamlined loan you will receive 50% of the money at closing and the remaining amount when the repairs are completed.

Purchasing a home can be a daunting task and in today's market it is no easy feat to decide on the home of your dreams. What if that home has potential and you can see it, but how do you fund the much needed TLC it needs and pay for your mortgage?

This is where GSF Mortgage can help you and your dream home. We have a Home Improvement loan that can provide you the cash you need at the closing of your new home. After signing all those papers to make the home yours, we’ll hand you a check for half. You can immediately begin getting your new home into dream home status.

Almost all updates and repairs to a home qualify under this new home improvement loan. From re-roofing the home, updating a bathroom, gutting a kitchen and furnishing it with new appliances, to replacing the out of date wall to wall shag carpeting with hardwood floors, are all covered under this loan.

Give me a call today at (920) 788-9608 or apply online at https://www.getapprovedfast.com/application.asp

Wednesday, February 16, 2011

FHA mortgage insurance premium increase

FHA MIP Increase


FHA MIP Increase This week, February 14, I announced an increase in the Mortgage Insurance premium at FHA in the amount of .25% per year. It is important for all to at least understand the reason. I know there may be many responses to this, and I will be unable to respond, but I do think it important for all to understand the obligation. FHA has suffered greatly from originated loans in years 2006-2008 and fortunately due to the changes we have implemented in the past two years since I was sworn in, we have managed to avoid external intervention into the program that could have forced even more conservative policies to impact your business. I speak today, Feb 16, to the House Financial Services committee. Some will want, and do want, to eliminate all guarantees from FHA. It is through responsible management that I will argue against the need to intervene. As I am sure you are aware, FHA has a statutory obligation to maintain a 2% capital reserve. We have been below that now for two annual actuarial reports to congress and this year it actually dropped further than the previous year. While there are reasons for this, like select mortgage Programs that really hurt the fund, it won't matter much to legislators as their primary concern is that we become compliant with the law and get the reserves back up. In the last year actuarial, submitted in October, it said that in the base case we would not get above 2% until 2015 and, additionally, there was a 40% risk that we could actually go negative. Going negative would require a direct subsidy from the treasury.......a bailout. I recommended this increase. I recommended the increase based on my obligation to get the reserves back up. I do understand the concerns of those in the industry. Unfortunately, if we do not get the reserves back up it would be likely that congress would take their own actions which could make the outcome even worse. While I do not expect all to agree, I have made these moves to actually protect the program so that it could continue. Thanks
http://activerain.com/blogsview/2139755/fha-mip-increase-

Thursday, January 13, 2011

Fannie & Freddie increase loan adjustments

Fannie Mae & Freddie Mac recently announced an increase in the loan level price adjustments. If you haven't locked in your rate you should do so now before these new changes go into effect.

On average the adjustments are about 50 basis points. For example a $150,000 loan you will have a pricing adjustment of $750 in additional closing costs to get that current rate. $150,000 x .5% = $750.

Instead of paying the additional 50 basis points you also have the option of going with a higher interest rate. Depending on your credit score, loan program, and loan to value this could be anywhere for 1/8 to 1/4 point higher interest rate.

If you are looking to purchase or refinance give me a call today at (920) 788-9608 or apply online at https://www.getapprovedfast.com/application.asp.  Interest rates are expected to rise in 2011.