WHEDA has suspended locking rates temporarily!
This may be shortlived - but for now WHEDA will not accept rate locks until further notice. WHEDA wqill accept preapprovals, hoping that the market disruption isn't going to last long.
Effective October 1, 2008 - WHEDA will currently waive its preapproval fee for applications received on or after October 1, 2008.
WHEDA is not able to access low-cost capital. This is all a melt-down from what has been happening of late on Wall Street.
Until money is available and at a reasonable rate we may see more loan programs effected.
If you are buying a home - what does this mean to you? In my opinion it means deal with a LOCAL source of funding. Deal with someone your Realtor (R) recommends and has a good business reputation.
If you are considering buying a home - there hasn't been a better time in many years.
1. The inventory is amazing. You can pick and choose what you would like.
2. Sellers are more reasonable with their pricing and helping assist YOU with financing if needed.
3. Right now there is still mortgage money available at favorable rates.
4. We may be at the BOTTOM of this market!!!! this is important. You do not want to look back and say "I should have bought last year -- when the rates were more favorable and the prices were better" . Jump in NOW - before mortgage money goes up.
For more details on owning a home, getting a mortgage, etc. Call April today!
For properties for sale see my website.
For free Home Buyers information
For free Home sellers information
You can find great local Milwaukee Wisconsin area real estateinformation on Localism.com April Hayden-Munson Realtor, Southeastern Wisconsin is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
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