Choosing the right loan program for you

UW Credit Union has contributed a new article to our web site. In this article UWCU lists 5 questions you should ask yourself as you consider your mortgage options. UWCU also provides a high level overview of different loan programs, including FHA-insured mortgages, VA home loans, rural housing loans, and the new WHEDA Fannie Mae Advantage program that will be available March 1st. (The new WHEDA program offers up to 100% financing for first-time home buyers).

You can read the full article on the buying real estate page at DaneCountyMarket.com

Have a great Friday,

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

Time to lock in? Mortgage rates back below 5%.

According to the latest mortgage rate publication by UW Credit Union, interest rates for 30 year fixed rate loans are back below 5%.

If you haven't visited the UW Credit Union mortgage web center before, you'll find it to be a very useful resource. The UWCU mortgage web center allows you to monitor interest rates, apply for a loan, and monitor the status of your loan all from a single online location. In the very near future you'll also be able to search for properties. That's pretty cool.

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

Interest rates headed higher?

Eric Rosengren, chief of the Federal Reserve Bank of Boston, predicts rates will rise between .5% and.75% over the coming months. You can read more in this article from The Hartford Courant.

Rock-bottom interest rates and tax credit incentives won't last forever. If you need to sell, you have a window of opportunity right now. We recommend you consider listing your home in January rather than waiting until spring.

Food for thought.

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

3 good reasons to start your home search with a mortgage pre-approval

Here are three great reasons to start your home search with a mortgage pre-approval.

1. A mortgage pre-approval helps you focus your search on homes that you can afford.
2. A pre-approval adds more weight to your offer to purchase, and helps you in the event that other buyers are competing for the same home.
3. A pre-approval helps you move through the financing contingency in your offer to purchase more quickly.

The UW Credit Union does a nice job explaining the mortgage pre-approval process in this article. You'll find it on the buying real estate page at DaneCountyMarket.com.

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

Mortgage rates reach all-time lows

If you've been waiting to lock in your rate, the time to act is now.

Mortgage rates have dropped to all-time lows according to the latest weekly mortgage market survey conducted by Freddie Mac. According to survey results released on December 3rd, the average commitment rate for a 30 year fixed rate loan was 4.71%. The average for a 15 year fixed rate loan was 4.27%.

This graph puts current rates in perspective. It shows the annual averages for the years 1992 through 2007, followed by the monthly averages for each month since January of 2008.

For our full mortgage report, visit the economic trends page at DaneCountyMarket.com. You can view the latest mortgage rates updated daily on the mortgage home page at uwcu.org.

UW Credit Union offering $500 off closing costs through April 30th

UW Credit Union is offering $500 off closing costs through April 30th.

In case you missed it, UWCU recently joined our DaneCountyMarket.com web site. Now our web site users can research the market, search for properties, monitor interest rates, and apply for a loan all from one online location.

UWCU will be contributing a number of educational articles to our site in the very near feature. Needless to say we're ecstatic to have UWCU joining DaneCountyMarket.com, making it an even better resource for the consumer seeking comprehensive and reliable real estate information - without any strings.

Have a great day,

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

UW Credit Union has joined the DaneCountyMarket.com web site

We're excited to announce the UW Credit Union has joined our DaneCountyMarket.com web site. This means our web site users can now search for properties, research the market, check the latest mortgage rates, and apply for a loan all from one convenient online location.

Speaking of mortgage rates, loans for 30 year fixed rate mortgages were available for 4.75% yesterday. You can check out today's rates by going to our home page.

Like us, UWCU is a provider of good consumer information, and soon UWCU will be offering educational articles that will be available from our site.

Have a great day,

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

Time to lock in your rate?

Rates for 30 year fixed rate mortgages were well below 5% on Friday. Interest rates don't get much lower than their current levels.

For the latest rates from local lenders, check out the mortgage update page, under buying real estate at DaneCountyMarket.com .

Have a great day,

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

Mortgage rates now available for under 5%

Mortgage rates have been slowly decreasing over the last two months, and some local lenders are now offering 30 year fixed rate mortgages for under 5%.

For the latest rates from local lenders, check out the mortgage update page, under buying real estate at DaneCountyMarket.com .

Have a great day,

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

Foreclosure prevention workshop is Saturday from 9 AM to Noon

Don't forget, the "fix your loan, keep your home" workshop is this Saturday from 9 AM to Noon at the MATC Truax campus located at 3550 Anderson Street in Madison.

Plenty of volunteers will be on hand to assist those who are in need of help, so please feel free to share this link with anyone you know that may be having problems keeping up with their mortgage.

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

Fix your loan, keep your home - workshop is Saturday, August 1st

Please share this post with anyone you feel may benefit from this program.

The city of Madison, Dane County, and the Dane County Foreclosure Prevention Taskforce are sponsoring a free workshop for home owners who are experiencing financial hardship and having a hard time keeping up with their mortgage. Attendees will have the opportunity to work one-on-one with a trained counselor to submit an application for a loan modification.

The workshop will take place Saturday, August 1st from 9:00 AM to noon at the MATC Truax campus located at 3550 Anderson Street in Madison.

Important: In order to be considered for a loan modification, all borrowers listed on the mortgage must bring a few key pieces of paperwork. Please visit DaneForeclosureHelp.org for a list of required documents.

Assistance will be available in English, Spanish, and Hmong. For more info, please feel free to call 2-1-1 or email info@daneforeclosurehelp.org.

Have a good day,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

Dane County lenders participating in the Wisconsin Neighborhood Advantage Program

Several local lenders have signed up for the Wisconsin Neighborhood Advantage Program, a program designed to help buyers get into vacant and foreclosed homes. Check out this link for a list of participating lenders. If you're interested in learning more about how this program could work for you, a good first step would be to contact one of the Dane County lenders on the list.

Have a good one,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

30 year mortgage rates dip back below 5.5%

Mortgage rates have come down a bit - after rising by about a full point over the last few weeks. You'll find the latest rates from local lenders on the mortgage update page at DaneCountyMarket.com.

Have a good one,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

No more FHA condo "spot approvals"

Buyers can purchase a condo with an FHA loan if it is on the HUD list of approved condominium projects.

Until a few days ago, if a condo development was not on the HUD-approved list, the buyer's lender could complete a form documenting information about the development's occupancy, ownership, and financial history. If the completed form verified that the condo project met the FHA standards for funding, the condo development could be granted "spot approval" for an FHA loan.

The spot approval process is now a thing of the past, meaning it has suddenly become more difficult for many condo buyers to obtain a low down payment loan. We have one client with an FHA loan who is expecting to close on her condo next week. Now we're working with her to put another financing plan in place.

If you've been planning to purchase your condo with an FHA loan, check with your lender to see if the spot approval change will affect your transaction.

For more information, you'll find these links useful:

• Blog post, from Rob Seibert of Flabox
• HUD mortgagee letter 2009-19 (select the top document in the list)

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

Mortgage rates inch higher

Mortgage rates have increased by about half a percentage point over the past week. Rates for 30 year fixed rate mortgages are currently hovering around 5.5%. You can find the latest rates from local lenders on the mortgage rate page at DaneCountyMarket.com.

Have a good weekend,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

Mortgage rates remain near historic lows

Freddie Mac published the results of its most recent mortgage market survey on Thursday. The average commitment rate for a 30 year fixed rate mortgage was 4.82%. The average rate for a 15 year fixed rate loan was 4.5%.

Here's how rates have trended over the last 20 weeks.

A number of local lenders currently offer 30 year loans for fixed rates at or below 5%. For the latest on local rates, you can view our daily mortgage rate updates on the buying real estate page at DaneCountyMarket.com.

Have a good one,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

Interest rates reach new lows

Interest rates have reached new lows, according to the latest weekly mortgage survey by Freddie Mac. Rates for 30 year fixed rate mortgages averaged 4.85%. Rates for 15 year mortgages averaged 4.58%.

Here's how rates have trended over the last 20 weeks:


For the latest rates from local lenders, check out the mortgage update page under buying real estate at DaneCountyMarket.com.

Have a good day,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

Mortgage rates plunge below 5%

Mortgage rates have plunged again. You can check out the latest rates for local credit unions and banks on the buying real estate page at DaneCountyMarket.com.

Have a good night,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

Mortgage rates continue along historically low levels

Rates for 30 year fixed rate mortgages have been hovering around 5% for the last two months. According to a February 26th survey conducted by Freddie Mac, the average rate for a 30 year fixed rate loan was 5.07%. The average rate for a 15 year loan was 4.68%.

Some folks are waiting to see if rates will go lower. Whether they do or not, this graph - showing rates back to 1992 - should put things into perspective.

Rates right now are about as they've ever been. You'll find our full mortgage report and daily rate updates on the buying real estate page at DaneCountyMarket.com.

Have a good weekend,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

Mortgage rates reach new lows

Every Thursday Freddie Mac publishes the results of its weekly mortgage market survey. This week, for the first time in recent memory, the average rate for a 30 year fixed rate loan dipped below 5% to 4.96%. The average rate for a 15 year fixed rate loan fell to 4.65%.

Here's how the Freddie Mac survey results have trended over the last 20 weeks:

This graph shows the monthly averages for 2008 and the annual averages for every year spanning from 1992 to 2007.

Will rates trend even lower? Some people in the field think they will. Whether they do or not, the graphs above make it clear that rates right now are as good as they've ever been. If you've been thinking of buying or refinancing, you'll find these links helpful. This link includes current rates from local lenders. This link includes mortgage calculators from local lenders. You'll also find plenty of other useful links and articles on the buying real estate page at DaneCountyMarket.com.