Your Real Estate mortgage resource

There are many types of loans and assistance programs available. Listed here is a short sample. Due to the frequent changes in the lending market you should check the links provided for the latest information and consult with a Wisconsin licensed lender.

The following list is a brief explanation of some of the programs offered. Check the web sites for more and current information.

Http://www.selectmilwaukee.org/sitehome/home.aspx

Select Milwaukee offers grant information and buyer education programs to people interested in buying property in Milwaukee.

2209 N. Dr. Martin Luther King, Jr. Drive

Milwaukee, WI 53212

(On the corner of King Drive and Garfield Ave. one block south of North Ave.)

Office Hours: Monday - Friday 8:30 a.m. - 5 p.m.

Email: info@selectmilwaukee.org

Phone: 414.562.5070

Fax: 414.562.5072

Http://hri-wi.org/

Housing Resources Inc. has many types of grant programs and a buyer education program in Milwaukee and surrounding areas.

Housing Resources, Inc.

8532 West Capitol Drive #201

Milwaukee, WI 53222

Phone: (414)461-6330

Fax: (414)461-6320

Home Buyer Education,

Counseling, Grant Assistance,

Reverse Mortgage Counseling

Http://www.wheda.com/

Competitive interest rates

Loans with credit scores as low as 620

Home buyer education classes

Unemployment insurance

Major rehabilitation loans up to $10,000 above the purchase price

For single family homes, duplexes and condominiums

New construction loans with a 700 credit score

Reduced interest rates in targeted areas

Lender training

Only for first time home owners or if you have not owned a home for three years

Income and purchase price limits

Recapture tax if you sell within the first 9 years

Condominiums may have restrictions

3%, 5% or 10% down payment required based on credit score and type of property

http://www.fha.com/

FHA insurance is backed by the U.S. Government

FHA loans are assumable

No income limitations

Loan amounts to $271,000

Single family homes, duplexes, four family units and condominiums

All property must be owner occupied

Loans with additional money for improvements

Loans for manufactured homes

Additional loan amounts for energy efficiency updates

Disaster loans

No minimum credit score

Loans up to 31% of income for principle, interest, taxes and insurance

3% down payment that may include the closing costs