Effective July 14, 2008 FHA mortgage loans will charge new mortgage insurance premiums based on a combination of credit scores and percentage down. FHA will implement risk-based premiums on one- to four-unit single family mortgages.
We pride ourselves on being able to assist the first time home buyer in learning and understanding the process. We take the time to review the credit process and explain the various lender programs available.
Ameristar Mortgage offers Illinois and Wisconsin FHA mortgage loans to Wisconsin and Illinois residents: Purchase a home thru FHA with no money down (100% financing). Cash our refinance with an FHA mortgage to 95%. Ameristar Mortgage is an approved mortgage broker for FHA loans in Wisconsin and Illinois including Chicago, Milwaukee and Madison.
Due to ever changing guidelines to the stated income program Ameristar Mortgage now offers jumbo bank statement mortgage programs to $1, 500, 000 available to Wisconsin and Illinois residents.
Due to ever changing guidelines to the stated income program Ameristar Mortgage now offers core bank statement mortgage programs to $750, 000 available to Wisconsin and Illinois residents.
FHA has increased the loan limits to $410, 000 for single family homes in Cook, Dupage, Dekalb, Grundy, Kane, Kendall and Lake counties. The increase should provide some relief for homeowners paying adjustable or high mortgage rates. The measure is temporary, and will be available until the end of 2008.
Home Possible is a Freddie Mac program that has very flexible credit guidelines for low to moderate income borrowers. It's available to purchase or refinance a single family home, condominium, or a 2–4 family home.
With loan amounts up to $1.5 million and interest rates significantly below comparable jumbo products, there's no better time to consider jumbo VA loans! Eligible borrowers include active military, veterans, reservists, National Guard, and unmarried surviving spouses of eligible service members.
Ameristar Mortgage offers full doc jumbo loans and non conforming home loans, including fixed and adjustable rate jumbo mortgage loan products, balloon products, and even interest only programs to meet the purchase or refinance needs of our borrowers...
Enjoy the privilege of no money down loan for qualified Illinois and Wisconsin veterans and reservists. The Department of Veterans Affairs insures these loans, so you'll get more freedom to make decisions.
Whether you are looking to refinance your current Illinois or Wisconsin mortgage to obtain a lower rate, get out of your current adjustable rate mortgage (ARM) and into a fixed rate, get cash out to add an addition, finish your basement, or to just payoff credit cards and other unwanted debt Ameristar Mortgage has the right refinance program for you:
An Interest Only mortgage is an excellent mortgage option for borrowers who want the lowest payment possible. An Interest Only loan means exactly what it says, the borrower pays interest only. By paying interest only on a mortgage loan, borrowers can purchase more home with the same payment as they would with a traditional 30 year fully amortizing loan.
Ameristar Mortgage of Wisconsin and Illinois offers Stated Income Stated Asset Verification (SISA) Low Doc Mortgage - Great for self employed or W2 employees who cannot document income or assets...
Rural Housing loans offer 100% Financing plus up to appraised value for closing costs and escrows (pre-paids). The Guaranteed Rural Housing (GRH) loan program provides moderate income families with access to affordable home ownership in eligible rural areas. Ameristar Mortgage provides home purchase financing requiring no down payment and can finance loan closing costs and repairs up to the property's appraised value.
Loans that finance the full purchase price, and thus do not require a down payment, are called "100% financing loans". 100% Financing loans are also referred to as "no money down loans". Ameristar offers the following 100% financing programs:
We have a variety of programs tailored for borrowers that have a less-than perfect credit history. Many potential homebuyers come to us after they have been turned down elsewhere, and often by numerous lenders. The primary difference between Ameristar Mortgage and other lenders is that we view low credit scores, low income, low home equity, and marred credit histories simply as unique challenges rather than impossible obstacles.
Ameristar Mortgage, your local Illinois and Wisconsin mortgage broker, offers first time home buyer, 80/10/10, 80/15/5, cash out refinance, jumbo loans, construction, lot loans, no money down, refinance, 100% financing, interest only, stated income stated asset, investment, my community mortgage, Fannie Mae flex 97, jumbo VA loans, Freddie Mac home possible, FHA mortgage, VA loans and rural housing loans. Visit us online at http://www.ameristarmadison.com or contact us toll free at (877)240-5840.
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