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Government Insured Mortgage Loans in Illinois and Wisconsin

If you are looking to make a low down payment or if you are a veteran, the government may be able to help you with a Wisconsin or Illinois no money down purchase or refinance!

Check out these great programs:

FHA Mortgage Home Loans -
up to 100% Financing
FHA loans are loans insured by the Department of Housing and Urban Development (HUD). They are available to all qualified buyers,
but are subject to maximum mortgage limits for each county. The loans offer low down payment options, flexibility and charge less for mortgage insurance premiums (MIP) compared to a conventional loan. More...

Federal and State VA Mortgage Loans - 100% Financing
No down payment is required (Illinois and Wisconsin federal only. Wisconsin State VA loans require 5% down), but buyers have to be qualified veterans of military service. Wisconsin and Illinois VA mortgage Loans are typically fixed-rate loans guaranteed by the US Department of Veterans Affairs for the purpose of making housing affordable to eligible US veterans. More...

Rural Housing Single Family Guaranteed Mortgage Loans - 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. More...


Recent Government loans posts on our blog:

No Down Payment FHA Loans
August 6th, 2008

You can purchase a Wisconsin or Illinois home with no down payment through Ameristar Mortgage. We have great FHA mortgage rates that can make you a homeowner today! We work with down payment assistance programs that can get you into a home with no money down.

Whether you are located in Wisconsin or Illinois we are here to help you obtain your no down payment FHA mortgage loan purchase or refinance at the best rate possible.

View our FHA condo spot loan article. Learn how you can purchase a condo not on the FHA approved list and still use FHA financing. With so many condos on the market in Chicago and any where in Illinois and Wisconsin, FHA spot loan approvals are becoming crucial in obtaining flexible financing with little money down especially in Chicago and Milwaukee.

FHA down payment going up to 3.5% effective January 1, 2009

Read the rest of this entry


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