Greenwood, WI New Home Financing in Wisconsin
Somerset Investors Corp. can find Greenwood, WI residents the perfect loan and start your home purchase off right. With hundreds of loan programs available, we’ll help Greenwood, WI residents match your needs with a loan you’ll love for as long as you own your home. Somerset Investors Corp. can find Greenwood, WI residents the perfect loan and start your home purchase off right. With hundreds of loan programs available, we’ll help you match your needs with a loan you’ll love for as long as you own your home.
Fixed Rate Loans
Several categories of conventional loans exist, the most common and familiar being the fixed rate mortgage. In the cases of fixed rate mortgages, the borrower will lock in an interest rate, and pay down both the principal and interest on the loan at that interest rate every month until the mortgage is paid off. The most typical term of a fixed rate loan is 30 years, though fixed rate mortgages can also be obtained for much shorter terms, the primary difference being in the size of the monthly mortgage payment.
Conforming Loans
Other conventional loans are known as conforming loans. In these cases, an arrangement is made between borrower and lender that comply with the stipulations of two federally run mortgage trading companies (or Government Sponsored Entities - GSEs) Fannie Mae (FNME) and or Freddie Mac (FHLMC).
Fannie Mae and Freddie Mac do not directly approve or deny loans. They buy and sell home mortgages, working with lenders to make home ownership easier for people to attain. Lenders like to sign up borrowers with conforming loan, because they can then sell these loans to Fannie May or Freddie Mac in order to more quickly receive the funds coming to them, and use those funds to make other investments. Fannie Mae and Freddie Mac, in turn, then repackage these loans to sell to investors as securities.
The current guidelines for a conventional Fannie Mae loan set a maximum purchase price for a single-family home at slightly above $415,000 (though residents of Alaska, Hawaii, or Guam may be able to qualify for an even larger loan).
The interest rate as well as the short- and long-term pricing on a conforming loan is determined primarily by the type of loan applied for. Also taken into consideration will be the amount of funds you already have to contribute to closing costs, your credit rating, credit score, and credit history, your employment history, and the type and location of the home in question.
Jumbo Loans
Other forms of conventional loans are nonconforming loan instruments that do not meet Fannie Mae or Freddie Mac loan qualifications, such as jumbo loans, or loans so large they fall outside the Fannie Mae and Freddie Mac loan limits (or purchase limits). Jumbo loans are provided by private investors and as such ordinarily come with much higher interest rates than conforming loans.
FHA Loans
Government entities from a local to a federal level and private entities alike have worked to develop loan programs that make home ownership a reality for many people considered under-qualified for traditional mortgages. These include loans for first-time homebuyers and people with a low-to-moderate income that are insured by the Department of Housing and Urban Development (HUD) via the Federal Housing Administration (FHA).
HUD and the FHA do not make loans directly, rather they insure loans, meaning that the lender still gets paid back even if you default on the home loan. Often, FHA insured loans are available with d
Return to new home financing in the state of WI
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Women to watch
One new store that recently opened in downtown Neillsville, is "Angels and Dreams Consignment Store." Rose Teichmiller first started the craft store business in her home, but recently moved to downtown ...
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Fire Destroys Barn, Kills Almost 90 Animals
A Tuesday morning fire claimed the lives of almost 90 animals, and destroyed a barn.
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Women take on business challenges at Centuries on Main
GREENWOOD -- Starting a new business is one challenge; renovating a building to house that business is perhaps a bigger challenge.
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News from Neillsville and Clark County
Freelancer June Thompson profiles Centuries on Main in Greenwood, a new business, and its owners.
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Courts
* Billie S. Sternitzky, 25, of 909 Weber Ave., Stratford; initial appearance Oct.
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Courts
* Jose R. Mireles Aguilera, 23, of 302 Piine St., Abbotsford; no contest plea; two charges of operating a vehicle while revoked; 30 days in jail on each, to run concurrent, and $88 in costs on each charge.
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Allan R. Prior
LOYAL -- Allan R. Prior, 77, of Loyal died Tuesday, Oct. 21, 2008, at Saint Joseph's Hospital, Marshfield.
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Courts
* Kristy S. Degenhardt, 27, of 110 N. Stafford St., Greenwood; no contest plea; disorderly conduct; $309 fine.
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Today's Highlight: Teens invited to Kick Ash Bash
GREENWOOD -- A Kick Ash Bash for smoke-free air will be from 6 p.m. to 9 p.m. Saturday in the gymnasium at Greenwood High School.
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Letter: Voters should research need for Auburndale referendum
Letter: Voters should research need for Auburndale referendum October 15, 2008 During the last five years, school districts all around us have gone to their residents asking for assistance to meet the financial ...
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Research information, vote yes
Editor: During the last five years, school districts all around us have gone to their residents asking for assistance to meet the financial demands of educating children.
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Workshop addresses teaching about sex for children with Down syndrome
Terri Couwenhoven, sexuality educator and author of "Teaching Children with Down Syndrome about their Bodies, Boundaries and Sexuality: A Guide for Parents and Professionals," will present a workshop for ...
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Community reaches out a hand to residents in need
Corporate contributions, workplace giving and individual contributions to Marshfield Area United Way's effort to Advance the Common Good total $118,654 in the beginning of October.
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Toast of the town: Oktoberfest draws the crowds
Oktoberfest started with a good crowd, and 300 brats later it was undeniably a success.
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Loyal resident celebrates a century of living
Helen Axelson, of Loyal, has lived a lot longer than most people -- 100 years. She recently celebrated her 100th birthday, on Sept.
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Campus news
Students earn scholarships MENOMONIE -- Scholarships valued at more than $585,000 were awarded to 374 University of Wisconsin-Stout students this year through the Stout University Foundation Inc.
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Local educator award regarded with esteem
The pool of teachers vying for Crystal Apple may not run as deep as most national or even state awards, but the honor, in many people's eyes, soars higher.
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Family gathers to celebrate 100th birthday
GREENWOOD -- Saturday was a very special day in Greenwood as people gathered to celebrate a milestone.
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Courts
A, Marshfield; no contest plea; driving after a license revocation; $350 fine. * Joseph J. Galetka, 25, of N4592 Owen Ave., Neillsville; guilty plea; issuance of worthless checks; fine, costs and restitution ...
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Courts
* Tony L. Rollins, 17, of 3188 Main St.; Granton; underage alcohol violation, $375 fine. * Christopher R. Strey, 18, Greenwood; speeding, $343.50; and no valid driver's license, $148.20 fine. * David J. Thorne, 22, of N13795 Highway D, Owen; speeding, $501 fine. * Amanda M. Jacobson, 26, of 5343 Star Ridge Road, Eau Claire; no contest plea; issuance of worthless checks; fine, costs and restitution totaling $255.22. * Amber M. Boyer, 23, of 2402 N. Peach Ave., Apt. 5, Marshfield; drunken driving; eight-month driver's license revocation, $793 fine and alcohol assessment. * Daniel J. Lieble, 21, Marshfield; drunken driving; one-year driver's license revocation, $803 fine and alcohol assessment. * Chantel R. Hardt, 21, of W222 Hickory Road, Dorchester; four counts of theft; seven days in jail with work release, 24 months probation, $684 fine and $420 in restitution. Three additional counts of theft were dismissed and read into the record. * Christopher D. Cech, 23, of 7190 Highway Y, Marshfield; resisting an officer; $476 fine. * Jordan J. Engevold, 21, of 104 E. Cleveland St., Apt. B, Marshfield; three counts of having sex with a child age 16 or older; 90 days in jail with work release, two years probation, $1,050 fine, undergo any counseling deemed necessary and have no contact with minor females. If he completes his probation, his record will be erased. * Brandon S. Shaw, 19, of 1701 N. Chestnut Ave., Apt. 201, Marshfield; revocation of probation for burglary and three counts of theft; eight months in jail with work release and credit for 134 days served. * Amanda J. Hubbell, 27, of 1009 Laurel St., Apt. 102, Marshfield; neglecting a child, disorderly conduct and possession of marijuana; one year probation, $161 in costs and undergo counseling. A charge of possession of drug paraphernalia was dismissed. * Craig J. DeCaluwe, 24, of 8271 Edward St., Pittsville; drunken driving; five days in jail with work release, 12-month driver's license revocation, $894 fine, attend victim impact panel and alcohol assessment. * Jamie L. Vetrone, 24, of 305 N. Central Ave., Apt. A, Marshfield; identity theft and disorderly conduct; two years probation, $546 fine, and undergo any counseling deemed necessary. Charges of taking and driving a vehicle without consent, theft and felony bail jumping were dismissed. A 30-day jail sentence was stayed. * Luke K. Solinsky, 21, of 240 S. Central Ave., Apt. B, Marshfield; not guilty plea; child abuse-recklessly causing harm; faces a maximum of 3 1/2 years in prison. His next appearance is scheduled for Oct. 24. According to the criminal complaint, in June, Solinsky struck a 2-year-old boy on the buttocks with his hand hard enough to cause bruising. * Daniel J. Konieczny, 44, of 9838 Westby Rd., Marshfield; default judgments; non-registration of auto and displaying unauthorized vehicle registration plates; fines totaling $384.60. * Jesus A. Ramirez, 23, of 1411 S. Locust Ave., no. 105, Marshfield; guilty plea; third offense; operating without a license; fines and costs totaling $350. Divorce * James A. Frankwick and Sara J. Frankwick, both of Marshfield, Sept. 16; woman granted name of Mayer. * Christopher L. Lafernier, 31, of 709 S. Cedar Ave., Marshfield; initial appearance Sept. 11 on two misdemeanor charges of telephone harassment; $1,000 signature bond and pretrial conference set for Oct. 2. Police investigated two phone calls Lafernier was accused of making April 5 to a woman in Marshfield, according to court records. * Joseph O. Hitz, 36, of 4908 Town Hall Road, Athens; initial appearance Sept. 11 on a misdemeanor charge of battery; $1,000 signature bond. Police investigated a report that Hitz was involved in a fight June 21 with another man in the town of Johnson, according to court records.
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With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
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"Our family would like to thank Somerset Mortgage Lenders for getting us out of foreclosure. Without your help we do not know what would have become of our family. When we first called, we were in Chapter 13 bankruptcy...Not only will we now be able to keep our home, but we'll be able to put ourselves on track financially, thanks to all the efforts of the wonderful people at Somerset. We will be forever grateful to you all." - Scott & Amy
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