Use the equity in your home to borrow for many reasons. The interest
you'll pay may be tax-deductible,* and your property need not be located
in Wisconsin to qualify. You may apply for a fixed rate loan for up to
90% of your property value less any outstanding liens or loans. We can
help you determine how much equity you have available; just call us for
assistance.
*Check with your tax accountant or the IRS for complete deductibility
rules.
First Mortgages
Federated Family Credit Union members have "mortgage power!"
We've teamed up with Central States
Mortgage Company to offer a complete line of fixed and adjustable
rate mortgages to meet your home financing needs. Whether you're a
first-time home buyer, moving to a new home, or refinancing an existing
mortgage, we can help ease the process from application to closing. For
more information, call Brenda Brown at (414) 977-8608 or 800-769-9993
ext 108. [external
link disclosure]
Mortgage Preparation Tips
Mortgage preparation made simple. Buying a home is probably the
single largest investment most people make in a lifetime. By preparing
your credit profile before a home purchase, you can ensure a smooth
finance process and can potentially save thousands on your loan. Click here to learn
more.
Online Mortgage Applications
Whether you're a first-time home buyer, moving to a new home, or
refinancing an existing mortgage, Central States Mortgage Company
offers a mortgage to meet your home financing needs. Loans and
current rates are available online! For more information, visit
https://centralstates-milwaukee.mortgagewebcenter.com.
[external
link disclosure]
Reverse Mortgages Provide Senior Solutions
If you're a senior feeling as if daily living and medical expenses are driving you from your home; don't lose it, use it!
After making years of mortgage payments, your home may now be your strongest asset providing you with valuable financial options and alternatives. A Reverse Mortgage allows homeowners 62 years of age or older to convert their home's equity into cash.
The loan is called a Reverse Mortgage because the direction of payments is reversed- the lender pays you rather than vice versa. It gives you access to your home's equity without selling or having to make additional payments. You're able to remain in the home for life and use the funds toward anything you want -home health care, property taxes, home repairs, prescriptions, existing debt or a more comfortable lifestyle! There are no credit or income requirements to qualify and the funds are considered “loan proceeds” therefore the do not adversely affect income taxes, Medicare or Homestead benefits.
A Reverse Mortgage may be the perfect solution for you or a
family member to be able to maintain your independence and have a clear
view to the future. For additional information, contact Brenda Brown at
(414) 977-8608 or 800-769-9993 ext 108.
Powerful ARMs
Did you know that you can move more principal in less time
with a powerful Adjustable Rate Mortgage (ARM)?
Unless you plan to own your home for longer than ten years, a Fixed Rate
Mortgage may be a weak move financially. Chances are you won’t live in
the same home forever. That’s why an ARM makes sense for many of us.
With an ARM you pay a lower interest rate for a set period of
time—sometimes just for the length of time you’ll be in your current
home. Depending on the terms of your ARM, that period could be for as
long as ten years. With the extra money freed up by a lower interest
rate, you could purchase more house, free up money to pay down higher
interest credit cards or just allow you to save more money for a rainy
day.
Through our partnership with Central
States Mortgage, our Credit Union has placed financial expertise at your
fingertips to help you find out if an ARM is the right choice to for
you. Contact Brenda Brown at 414-977-8606 today to learn more about
using a powerful ARM to make your mortgage work for you.