Cudahy Wisconsin 58 Open Houses May 1st - 04/30/11 11:33 AM
The City of Cudahy is hosting a city wide Cudahy Open House Sunday Afternoon May 1st Cudahy Wisconsin.  Click Here for the open house list Most of the homes will be open from 12-4 pm but not all.
If you have questions about getting pre approved or mortgage lending questions in general lenders will be available at the Cudahy Family Library from 11-12.  Please call me on my cell phone at 262-613-2730 if you have any questions before, during, or after the event.
General Information about the Event Open House Map List of Open Houses  
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Should you get your mortgage loan from a local mortgage lender? - 04/27/11 12:49 PM
Mortgage lending is viewed by many as a commodity like buying a gallon of milk.  There are many horror stories out there that too many customers know all too well that all mortgage lenders are not created equal.  This does not mean someone needs to be local to provide good service but when shopping for a mortgage lender most importantly you should shop for someone you trust and secondly I do think having a local lender will help make the process even better. 
The biggest reason to use a local mortgage lender is local knowledge. Buying a house is different … (1 comments)

Up to 3.5% in closing cost credit for Properties - 04/26/11 10:06 PM
Fannie Mae will offer a 3.5% closing cost assistance for new home purchases on HomePath properties that close by June 30, 2011. Learn more about the program at www.homepath.com or contact me, Mark Nehs, at 262-347-2953.Program Eligibility and Requirements: Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer in order to be eligible The initial offer must be submitted on or after April 11, 2011 and close by June 30, 2011. Only buyers purchasing a HomePath property as their primary residence may receive up to 3.5% in closing cost assistance. Buyer must … (3 comments)

FHA Streamline 203k Limited Repair Program - 04/23/11 12:49 PM
The FHA 203k loan allows you to get the money for the home improvements all in one loan as a purchase or a refinance.  FHA 203k loans are unique and have many misunderstandings about them.  I will be explaining the basics of the FHA streamline 203k limited repair program. 
To qualify for the loan itself it follows the same parameters to qualify for a regular FHA Loan with a credit score of 620 and at least a 3.5% down payment.  The repairs must be non-structural thus no foundation or a relocation of a load-bearing wall.  Repairs included in the loan can … (4 comments)

Expanded Jumbo Products - 04/21/11 10:26 PM
We have announced some expansions to our Jumbo product.  Jumbo loans generally speaking are loans over $417,000 and usually have different restrictions and pricing. We have expanded our Portfolio Jumbo Product:
Lower FICO scores now permitted Include loan to values up to 80% for up to $1 million and up to 75% up to $2 million Loosened several of the condo and tighter debt ratio requirements Allow second home loans Allow cash out refinances. All of our Portfolio Jumbo loans are looked at on a case by case basis but it is nice to have some of the guidelines loosen up … (4 comments)

Agents want me to use their Lender - 04/09/11 10:59 PM
This question was posted in Zillow Q&A and has generated a lot of response.  I do think it is acceptable and wise for a Realtor to encourage (evenly strongly encourage) a buyer to use a lender they are comfortable using.
The responses have been all over from illegal kickbacks to I won't work with a buyer that won't work with my lender.  We have all seen deals go bad and many times it will be the lenders fault. Everyone involved wants the transaction to go smoothly.
Click Here if you want to look at the responses or participate in the discussion
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Government shut down could affect FHA financing - 04/07/11 09:04 PM
If the Federal Government shuts down over the budget this could force HUD and the FHA program to stop as well.  This is not what would be needed for a housing recovery because FHA loans are a majority of the mortgage loans right now.
The general consensus is that a few day shut down would probably not disrupt the mortgage world but a prolonged shut down would certainly be a major problem. This is worth paying attention for all with FHA financing on a property right now and for those looking to get FHA financing in the near future. Stay tuned...
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No reason to Panic but Buy Now - 04/06/11 09:14 PM
Rates continue to edge up (however still very low), FHA mortgage insurance premiums are going up this month, home prices remain low, and these are just a few reasons to buy a home now.
Should you buy if you are not ready? No!!  But if you are ready it is time to find your new home.  Spring is here and with plenty of houses to pick from you should be able to find one that is right for you.
Call me Mark Nehs at 262-613-2730 today to get pre approved and then go make an offer.
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Keep working on improving your credit score - 04/04/11 11:00 PM
Right or wrong we lenders base on a lot of things on your credit score.
We may deny your loan
We may charge you more
We may require you to have a larger down payment
We may require you to have more money in reserves
I know most everyone knows you want a high credit score but I had 2 customers in the last week that made me want to remind everyone to get your credit score as HIGH as you can.
One of my customers had decided to give up and really he should not he just needs a little … (3 comments)

Sellers be happy Buyers are out there - 04/04/11 09:02 PM
As the weather warms up here in Wisconsin so will the real estate market.  Right now, I have countless buyers that are pre approved and working with their Realtor's to find a home.  The pure quantity of buyers has me encouraged that 2011 will be a good year. 
The 2011 buyer is still cautious and expects a good deal but they do want and expect to buy a house soon.  How many pre approved buyers are working with Mark Nehs is not some major economic indicator that means the economy has turned around but I do take it as a good … (3 comments)

 
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Mark Nehs

Pewaukee, WI

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Mortgage Loan Officer Waukesha Wisconsin

Address: 395 Pewaukee Road, Pewaukee, WI, 53072

Office Phone: (262) 691-5843

Cell Phone: (262) 613-2730

Email Me

Learn all about Mortgage lending from a 20 year veteran of the mortgage business in Wisconsin. FHA, VA, Rural development, conventional, 80/10, and more. All types of mortgage loans for Wisconsin consumers looking to purchase or refinance.
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