No Down Payment
VA and FHA Loans in Chicago
July 25th, 2008
You can purchase a Chicago home with no down
payment through Ameristar Mortgage. We offer great
Chicago VA and 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 100% financing.
Whether you are located in
Chicago or any other city in Illinois, we are here to help you
obtain your no down payment FHA mortgage loan
purchase or refinance at the best rate possible
in Chicago.
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Today's Current Illinois and Wisconsin Mortgage
Rates
July 25th, 2008
Ameristar Mortgage offers current Illinois and
Wisconsin mortgage rates daily on our website
and our blog. Rates are updated between 9:00 AM
and 10:00 AM CST Monday through Friday and are
effective from the time published until 5:00 PM
CST.
We quote conventional, jumbo, ARMs, rural
housing, VA and FHA mortgage rates for all of
Wisconsin and Illinois including major cities
such as Chicago, Milwaukee and Madison.
Illinois and Wisconsin
mortgage rate trend as of 07/25/2008:
steady
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No Down Payment FHA Loans
July 23rd, 2008
You can purchase a Wisconsin or Illinois home
with no down payment through Ameristar Mortgage.
We have great FHA rates that can make you a
homeowner today! We work with down payment
assistance programs that can get you into a home
with 100% financing.
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.
Read the rest of this entry »
No Money Down Rural Mortgage Loans
July 20th, 2008
In addition to 100% mortgage financing, Rural
Housing mortgages have no monthly mortgage
insurance and enjoy really great rates. If you
can qualify for a USDA mortgage, you should
really consider it.
The one thing that is
different about a USDA mortgage is that instead
of monthly mortgage insurance, USDA mortgages
require a funding fee. Currently, the upfront
funding fee for Rural Housing mortgage loans is
2% of the loan which can be rolled into the loan
amount.
Whether you are located in
Wisconsin or Illinois we are here to help you
obtain your conforming mortgage, FHA mortgage,
VA mortgage or USDA Rural Housing Mortgage loan
purchase or refinance at the best rate possible.
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Refinance Mortgage Loans from Ameristar Mortgage
July 16th, 2008
It is important to be aware of
current mortgage rates to ensure that you will
be able accomplish your financial goals with a
Wisconsin refinance or Illinois mortgage
refinance.
Mortgage interest rates
fluctuate, and refinancing rates that are lower
than your current rate could lower your mortgage
payments significantly, leaving more money
available for other investment opportunities
including your home.
This article gives pointers of what to think
about when refinancing your Wisconsin or
Illinois home. Refinance transactions are also
available in major Illinois and Wisconsin cities
including Chicago, Milwaukee and Madison.
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First Time Home Buyers Mortgage Loans from
Ameristar Mortgage
July 11th, 2008
Illinois first
time home buyers and
Wisconsin first time
home buyer need
to keep up with the
ever changing
mortgage market.
First time home
buyers need to
understand what type
loans are available
to you.
While interest
rates have not moved
up substantially
since reaching
40-year lows of a
couple years ago,
they are still a
major cost factor in
buying your first
home. First time
home buyer programs
are available to
those who have not
owned a home for the
past three years and
are designed to help
borrowers who may
not have enough
money to pay the
full cost of the
down payment or the
closing costs on a
mortgage.
First time home
buyer programs
can be viewed here:
http://www.ameristarmadison.com/first_time_home_buyer_wisconsin/index.htm
Ameristar Mortgage offers many
first time home buyer programs in Wisconsin and
Illinois including first time home buyer loans
in Chicago, Milwaukee and Madison.
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FHA Refinance and Cash Out Refinance Mortgage
Loans
July 1st, 2008
Illinois and Wisconsin FHA streamline refinance
loans, rate and term refinancing and home
purchase loans are available to 97%. FHA cash
out refinance loans are available to 95%.
FHA Refinance:
FHA refinance
loans are the ideal mortgage vehicle for
mortgage loans under $417,000 because they are
guaranteed by the federal government so that if
the borrower defaults, the lender will be able
to recoup its investment because an FHA
refinance loan is insured.
FHA Cash Out Refinance:
Cash out refinancing is another popular type of
FHA home loan that many homeowners use to obtain
capital for home repairs, remodeling and debt
consolidation. Cash Out Refinancing Loans
with FHA In order to get the most benefit from
refinancing your mortgage, it is often best to
consider refinancing after you have had time to
build up a significant amount of equity in your
home. Cash-Out up to 95% of your properties
value.
FHA refinance, cash out refinance and streamline
refinance mortgage loans are available to all
Wisconsin and Illinois residents including the
cities of Chicago, Milwaukee and Madison.
Read the rest of this entry »
VA Mortgage loans from Ameristar Mortgage
June 29th, 2008
Illinois and Wisconsin VA
mortgage loans offer great rates and are less
strict on credit than most conventional loans.
The Department of Veterans Affairs does not
actually loan the money for VA loans. It insures
loans that VA approved lenders provide, which
allows borrowers to get loan amounts for 100% of
the appraised value of a home.
Generally, the first step in
obtaining a VA loan is requesting an appraisal
of the property. Wisconsin and Illinois VA loans
are government-backed, so VA appraisers need to
make sure homes meet government safety and
quality guidelines.
Wisconsin and Illinois VA mortgages do offer a cash-out
refinance option, in which veterans may borrow up to 90 percent of the value of
the home.
VA mortgage loans are
available to Wisconsin and Illinois veterans and
are offered in major cities including VA loans
in Chicago, Milwaukee and Madison.
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No Money Down 100% Mortgage Loans from Ameristar
Mortgage
June 16th, 2008
If you want a home mortgage loan, and want to
see if it's possible to get a no money down
mortgage loan, the professional and
knowledgeable staff at Ameristar Mortgage can
help guide you through the decision making
process, and educate you about your options for
a Chicago or any city in Illinois no money down
mortgage loan.
An Illinois no money down
mortgage loan allows consumers, who do not have
5%, 10% or 20% of a home's value in cash, to put
down as their initial down payment, to still buy
a home. In fact, many consumers who apply for a
no money down mortgage actually do have the
money for a down payment but they rather use
that money to fix up, decorate or furnish their
new home.
Whether you're a first time
home buyer or have less than perfect credit
you've come to the right place for your no money
down mortgage loans.
Ameristar Mortgage is your
Illinois and Wisconsin no money down mortgage
broker.
Contact us for questions or additional
information
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FHA Mortgage Loans Purchase and Refinance from
Ameristar Mortgage
June 12th, 2008
Illinois FHA mortgage loans and Wisconsin FHA
mortgage loans
are currently available only to homes that fit
under the specified mortgage limits which can be
found here
FHA Mortgage Limits. FHA Mortgage Loans
allow for a low 3% down payment, have great
interest rates due to being insured by the
Federal Housing Administration, allows for less
than perfect credit and makes it much easier to
qualify due to FHA insuring the home loan. The
3% down payment can be paid through a down
payment assistance program offered by Ameristar
Mortgage.
Illinois FHA refinance loans
and Wisconsin FHA refinance mortgage loans are
also becoming increasingly popular among home
owners trying to refinance out of subprime
loans. FHA loans are not just for first time
buyers and are available to everyone looking to
purchase or refinance a home.
Illinois and Wisconsin FHA
loan programs can help you with buying a home
with no money down. To learn about FHA loan
qualifications, or get a free FHA home loan
prequalification by visiting our
FHA loan program page.
FHA loans are available to all Wisconsin and
Illinois residents including FHA loans in
Chicago, Milwaukee and Madison.
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Jumbo Loans (Non Conforming) from Ameristar
Mortgage
May 14th, 2008
Illinois jumbo mortgage loans and Wisconsin
Jumbo mortgages come in all shapes and sizes,
however unlike conforming mortgages, the
overwhelming majority of jumbo mortgages are
Adjustable Rate Mortgages, or ARM loans.
Because any borrower with less than a twenty
percent down payment were previously subject to
purchasing private mortgage insurance (PMI) to
insure the lender for the higher risk, jumbo
borrowers were previously paying a very large
PMI fee on a loan with an LTV (loan-to-value
ratio) higher than 80%. However with recent
foreclosures on the rise lenders have turned
away from 80/20 loans and very few zero down
loans are available both for jumbo and
conforming loans.
No money down jumbo programs
are generally not available, but instead require
a minimum of 5-10% down payment for a Wisconsin
or Illinois jumbo purchase or refinance
mortgage.
Ameristar Mortgage offers Illinois jumbo
mortgage and Wisconsin jumbo mortgage loans up
to $3 million.
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