FHA & VA Loan Programs

fha_vaFHA & VA Loan Programs

With mortgage rates still low, now is a great time to buy! There are many different loan options out there today that make buying a home achievable, and it is important to understand your options throughout the home buying process. Continuing our discussion on government loans from last week (see our USDA Q&A with Inlanta Branch Manager Laura Leonhard), we want to take some time to discuss your options with FHA & VA loan programs.

 

FHA Mortgage Loans

The FHA, or Federal Housing Administration, offers a low down payment option that can help low income or first time homebuyers purchase a home. Since the Federal Housing Administration insures your mortgage, individual lenders may be more willing to give you loan terms that make it easier for you to qualify. To qualify, you must have proof of steady employment and clear CAIVRS, which is the government’s Credit Alert Interactive Verification Reporting system, to qualify. CAIVRS is a database of those who have defaulted on government loans, owe back taxes, or have other federal debt. If you are on this list, you will not be able to receive the loan unless you can get your report cleared.

Compared to other loan programs, FHA has lower credit score requirements. It does, however, require a minimum score of 580 to qualify for a low down payment. If you are concerned about your credit score, consult your loan officer to find out if you might still qualify. These loans can also have a lower down payment requirement than a conventional loan. Conventional guidelines call for two months of asset reserves at closing, meaning two months of mortgage payments, including taxes and property insurance. FHA has no reserve requirements which means less money spent at the closing table.

Not only can closing costs be paid for by the seller, but the down payment of an FHA loan can also be gifted to the homebuyer. This has become a trend for buyers who are getting married and prefer that their gifts go towards a down payment on a home rather than a wedding registry. If you are getting a gift for your down payment, make sure you document it by getting a gift letter from the person you receive the gift from and be able to document any large deposits to your bank account. This will be required when your application is looked at by an underwriter.

It is important to note that FHA loans can only be used towards the purchase of a primary residence, so if you are looking to purchase a second home or vacation home, you will need to look at other programs. In addition to FHA purchase loans, other FHA options include streamlined and cash-out refinancing, as well as FHA 203k rehabilitation loans, which allow you to combine renovations and the purchase of your home into one loan.

 

VA Loans

If you have served our country, you may qualify for a VA loan. These loans are available for active, non-active, and retired Army, Air Force, Marine, Navy, National Guard, and Coast Guard vets who meet the established service requirements. To qualify, the veteran must have served on active duty and have a discharge other than dishonorable after a minimum of 90 days of service during wartime or a minimum or 181 continuous days during peacetime. There is a two-year requirement if the veteran enlisted and began service after September 7, 1980 or was an officer and began service after October 16, 1981. There is six-year requirement for National Guards and reservists with certain criteria and there are specific rules concerning the eligibility of surviving spouses.

VA loans offer many great benefits to veterans that are worth looking into eligibility for. These benefits include:

  • No Down Payment
  • No monthly mortgage insurance (PMI)
  • Gift Funds are acceptable for closing costs
  • No Cash reserves requirement
  • A variety of terms or loan types available
  • Available for purchase and refinance
  • Reduced costs for disabled veterans
  • Seller can pay closing costs
  • Seller pays for any required repairs
  • No pre-payment penalty

Both of these programs can offer many great benefits to qualified borrowers. If you think one of these programs would be a good match for you, contact one of your local Inlanta Mortgage loan officers to get pre-approved today!

 

OUR MISSION STATEMENT

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty, and ethics is the foundation of all of our relationships.

ABOUT INLANTA MORTGAGE

Headquartered in Brookfield, Wis., Inlanta Mortgage was established in 1993. The company has grown to 35 branches in 16 states and over 240 employees. Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac, Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2016. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

PARTNERSHIP OPPORTUNITIES

Inlanta Mortgage continues to expand its branch network and encourages ethical lending professionals to learn more about our support platform and discover how an Inlanta branch partnership with Inlanta Mortgage is essential to long-term success.

Locate an Inlanta Mortgage loan officer at www.inlanta.com/locations. For current employment opportunities, visit www.inlanta.com/join-our-team/employment-opportunities. Learn more about Inlanta Mortgage branch partnership opportunities at www.inlantapartners.com, call 262-439-4260, or email partners@inlanta.com.

Inlanta Mortgage, Inc. NMLS #1016.

USDA Rural Development

usda

USDA Rural Development

 

Achieving the dream of home-ownership could be more attainable than you have anticipated. If you are concerned about the affordability of purchasing a home, it is important to know you have options when it comes to loan programs. One popular government loan is USDA Rural Development.

The program was originally created to boost the development of land in more rural areas of
the country. Back when it was created, the USDA program’s sole purpose was to make rural living more achievable so that people who live in major cities could live within their means in the country, and ultimately help boost the economy in these areas as well. The program has grown significantly and is now able to help lower income families or individuals purchase homes in rural areas. We asked our very own Laura Leonhard, who is the #3 USDA lender in the nation, some common questions about this program. Here is what she had to say about USDA financing:

 

Q: What makes USDA different from other loan programs?

LL: USDA offers 100% financing. They also add in closing costs and any prepaid items. Another great bonus is that home repairs can be added to the loan as long as the appraised value comes in high enough.

 

Q: What are the benefits of going with USDA Loans?

LL: Many of the features that make USDA different are benefits of this loan program. Also, no money down, which is huge for some people. There is also reduced mortgage insurance premiums.

 

Q: What are the downfalls?

LL: The guarantee fee is a downfall to the USDA loan program, but that will be reduced this coming September!

 

Q: Is this program a good choice for first-time home buyers?

LL: Absolutely. With the no money down and many other great benefits, this would be perfect for first-time home buyers who may not have a lot of combined household income.

 

Q: What documentation is required when applying for USDA loans?

LL: The documentation requirements are the same as any other loan, unless there is a tougher credit situation. Then, there might be additional documentation required that will be disclosed by your loan officer.

 

Q: How do I know if I am eligible for USDA?

LL: A pre-approval will tell you if you are eligible for a USDA loan. You, as well as the location of the home you plan to buy, must be USDA eligible to qualify for this loan.  This loan program does have income limits for the county the home is located in as well as the number of people in the household.

 

Q: Do USDA loans exclusively go towards the purchase of a home?

LL: No, it can also go towards refinancing. However, you can only refinance with a USDA loan if your original home loan was also USDA.

 

Now that you know a little more about the USDA program, contact a loan officer near you to see if you, your family, and the house you want to purchase qualify. Let us help you make your dream of homeownership a reality!

 

 

OUR MISSION STATEMENT

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty, and ethics is the foundation of all of our relationships.

ABOUT INLANTA MORTGAGE

Headquartered in Brookfield, Wis., Inlanta Mortgage was established in 1993. The company has grown to 35 branches in 16 states and over 240 employees. Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac, Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2016. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

PARTNERSHIP OPPORTUNITIES

Inlanta Mortgage continues to expand its branch network and encourages ethical lending professionals to learn more about our support platform and discover how an Inlanta branch partnership with Inlanta Mortgage is essential to long-term success.

Locate an Inlanta Mortgage loan officer at www.inlanta.com/locations. For current employment opportunities, visit www.inlanta.com/join-our-team/employment-opportunities. Learn more about Inlanta Mortgage branch partnership opportunities at www.inlantapartners.com, call 262-439-4260, or email partners@inlanta.com.

Inlanta Mortgage, Inc. NMLS #1016.

Inlanta’s Future Home

IMG_0341Inlanta’s Future Home

 

Inlanta is the second largest mortgage financing provider in the greater Milwaukee area. As a result of our growing business, we are excited to announce that we will be relocating our corporate office to the Jannsen Center in Pewaukee, Wis. to accommodate our expanding operations and administrative staff.

“We have experienced consistent and steady growth over the last several years. This year has pushed us to capacity in our current location,” said Nicholas DelTorto, our President and CEO. “The new office will support our continued growth and expansion as we continue to achieve sales volume of record highs. I am extremely proud of our company and the service we provide to our referral customers, consumers, and the communities we serve.

“This is such an exciting step for the company as we are nearing our 25-year anniversary. Plus, it is a beautiful location for our corporate headquarters. It is a wonderful testimony to the people in this company, the quality of their work, and our unique culture that has allowed us to survive during rate fluctuations, and assimilate mountains of new regulations within this industry.”

 

Where to find us

 

Inlanta Mortgage’s new corporate address will be:

 

The Inlanta Center

W239N3490 Pewaukee Rd. Second Floor

Pewaukee, WI 53072.

 

The building is located at the intersection of Highway 164 and Capitol Drive. All employees’ email addresses and phone numbers will remain the same.

 

Join our team

 

Inlanta continues to expand, now operating 16 offices in the state of Wisconsin alone, and a total of 35 offices in 9 states. Our corporate office is currently looking to hire talented underwriters, processors, closers, and an account executive. For more information on all of our current job openings, including positions at our branches, visit www.inlanta.com/join-our-team/employment-opportunities.

 

If you are a loan officer looking to make a move and you would like more information on Inlanta branch partnerships, contact Inlanta Mortgage’s Business Development Team at 262-439-4260 or email partners@inlanta.com.

 

 

OUR MISSION STATEMENT

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty, and ethics is the foundation of all of our relationships.

ABOUT INLANTA MORTGAGE

Headquartered in Brookfield, Wis., Inlanta Mortgage was established in 1993. The company has grown to 35 branches in 16 states and over 240 employees. Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac, Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2016. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

PARTNERSHIP OPPORTUNITIES

Inlanta Mortgage continues to expand its branch network and encourages ethical lending professionals to learn more about our support platform and discover how an Inlanta branch partnership with Inlanta Mortgage is essential to long-term success.

Locate an Inlanta Mortgage loan officer at www.inlanta.com/locations. For current employment opportunities, visit www.inlanta.com/join-our-team/employment-opportunities. Learn more about Inlanta Mortgage branch partnership opportunities at www.inlantapartners.com, call 262-439-4260, or email partners@inlanta.com.

Welcome Aboard New Inlanta Employees

NewHire

Welcome Aboard New Inlanta Employees!

Our company’s continued growth, coupled with the increased activity of the spring/summer home buying season, has paved the way for Inlanta to welcome 50+ new team members since January 2016. New hires include loan officers, processors and various administrative positions at our corporate office in Brookfield as well as several branch offices.

Our Director of Human Resources Jan Priem said, “We have been very fortunate this year to be able to recruit and hire many outstanding new employees to help us keep up with the volume and growth of our company. They range from interns to seasoned support staff to quality loan originators. We welcome them to the Inlanta family and look forward to helping them achieve their full potential within our organization.”

 

New Corporate Staff Members

At the corporate administrative office in Brookfield, Wisconsin, several departments have expanded to include Compliance Manager, Cheri Musbach; Quality Control Analyst, Renee Peters; Underwriter, Cynthia Dietz, Gail Doyle, Christine Ivy, Khurram Raza & Heather Wolff; Marketing Specialist, Megan Wehking; Closing Coordinator, Nishia Cotto &Carrie Ksobiech; Document Review Specialist, Jaime Tyree; Post Closing Specialist, Gwendolyn McKay & Frances Nutting; Disclosure Desk Analyst, Janis Bertagnolli & Sandra Lemke; Secondary Accounting Assistant, Kristine Brown; Processor, Courtney Cunningham, Samantha Gates &  Akilah Grace; Processing Manager, Lindsay Gardner; Summer Intern, Maggie Schultz & Erik Thorson

 

New Branch Employees

In addition to the new team members at corporate, several branches have expanded as well.

Florida – Sarasota, Loan Officer Assistant, Hudson Presume

Illinois – Oak Brook, Loan Officer Assistant, Amy Couper & Pedro Guijarro; Processor, Nia Crawford; Carpentersville, Loan Officer Assistant, Juan Hinojosa & Rubby Lewis

Minnesota –Burnsville (New Branch), Branch Manager, Patrick Levoir & Thomas Montouri; Loan Officer, Patricia Hamm & Michael Burnett; Loan Office Assistant, Teresa Doppmann

Missouri – Kearney, Loan Officer Assistant, Hannah Thompson; Processor, Julia Bearden; Liberty (New Branch), Loan Officer, Matt Slenker

Wisconsin – Brookfield North, Loan Officer Assistant, Alysha McClure; Green Bay, Processor, Jessica Biwer; Greenfield, Loan Officer Assistant, Debra Verhyen; Processor, Danica Cochrane; Loan Officer, Amanda Lipski & Rebecca Vos; Janesville, Marketing Assistant, Brady March; Hales Corners, Receptionist, Amanda Dales; Madison – Junction Rd., Processor, Tara Feick; Madison – Marketplace Dr., Loan Officer Assistant, Tyler Lentz; Marshfield, Processor, Cheyanna Brandner & Julia Smith; Minocqua, Loan Officer, Herbert Lessmiller; Loan Officer Assistant, Mary Ann Wegner; Pewaukee, Intern, Kailey Snyder.

 

Click here for more information on job opportunities at Inlanta Mortgage.

 

OUR MISSION STATEMENT

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty, and ethics is the foundation of all of our relationships.

ABOUT INLANTA MORTGAGE

Headquartered in Brookfield, Wis., Inlanta Mortgage was established in 1993. The company has grown to 35 branches in 16 states and over 240 employees. Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac, Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2016. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

PARTNERSHIP OPPORTUNITIES

Inlanta Mortgage continues to expand its branch network and encourages ethical lending professionals to learn more about our support platform and discover how an Inlanta branch partnership with Inlanta Mortgage is essential to long-term success.

Locate an Inlanta Mortgage loan officer at www.inlanta.com/locations. For current employment opportunities, visit www.inlanta.com/join-our-team/employment-opportunities. Learn more about Inlanta Mortgage branch partnership opportunities at www.inlantapartners.com, call 262-439-4260, or email partners@inlanta.com.

Inlanta Mortgage, Inc. NMLS #1016.

Matt Slenker NMLS#1382872, Herbert Lessmiller NMLS#553731, Patricia Hamm NMLS#494976, Patrick LeVoir NMLS#566995, Michael Burnett NMLS#640582, Thomas Montouri NMLS#494974 , Amanda Lipski NMLS#288448, Rebecca Vos, NMLS#: 281430

10 DIY Outdoor Projects to Spruce up Your Curb Appeal

diy-outdoor10 DIY Outdoor Projects to Spruce up Your Curb Appeal

 

People often make the mistake of thinking that creating an inviting outdoor environment is always extremely expensive and a lot of work. Even the littlest things can make the outside of your home more inviting. Here are some ideas to make your outdoor area a retreat.

 

  1. Create posts to hold hanging flowers or lamps.

This simple addition can be done many ways, but it can make a great difference. Good lighting and small decorative touches can instantly transform your outdoor area into a unique & inviting living space.

Pinterest: DIY Patio Area with Texas Lamp Posts

 

  1. Add a fire pit and bench to your outdoor seating area.

Cozying up next to a blazing fire in your own backyard fire pit can make those cool summer and fall nights even better. Skip the portable fire pit and plastic chairs that you have to put back in storage every winter, and trade up to this exceptional bonfire area that everyone is sure to love!

Pinterest: DIY Fire Pit and Benches Project

 

  1. Add black mulch and/or a stone path to spice up your outdoor curb appeal.

The contrast of this black mulch with some stone and plants really makes the landscaping around your house pop! Your house will surely stand out with this amazing addition.

Pinterest: Black Mulch and Stone Path

 

  1. Use reclaimed wood to add a walkway from your patio or driveway to your yard.

This is a simple yet inviting thing you can do that is sure to get noticed. Repurposing wood can help keep your costs down and is environmentally friendly, so you can feel good about making this upgrade to your outdoor space!

Pinterest: DIY Pallet Wood Garden Walkway

 

  1. Add rope lights to your outdoor space.

When it comes to creating a trendy, eye-catching backyard or outdoor area, simply adding unique lighting, such as rope lights, can have a great impact. Line your walkway with rope lights or add them to your deck railings to create a dynamic effect.

Pinterest: 3 Ways to use Rope Light Outdoors

 

  1. Plant an herb garden.

Doing this has two benefits: not only does it look great, but you also have fresh herbs to make a fantastic meal. Fresh herbs make all the difference when it comes to cooking. You can plant them in small pots and continue growing them inside in the winter, or you can pick the remaining herbs and dry them out.

Pinterest: Growing Herbs in Window Boxes

 

  1. Turn a Pallet into a flower planter.

Pallets have become a versatile material for many DIYers. If you need to spruce up your curb appeal, consider using them to create planters for your flowers. The pin below is one of our favorite ideas.

Pinterest: Pallet Planter for Butterflies

 

  1. Make your own outdoor furniture with just some pallets, paint, and cushions.

Outdoor furniture can be pretty pricy. Here is another creative way to use pallets to spruce up your curb appeal. Outdoor couches and sectionals provide a great seating area that is different from your average table and chairs.

Pinterest: DIY Pallet Sofa Ideas and Plans

 

  1. Create sensational tiki torches out of old wine bottles.

Tiki torches are an extremely popular outdoor staple. Instead of buying the standard torches from the store, kick it up a notch by creating your own. Use glass jars or bottles that reflect your personality to add a little more character to your torches.

Pinterest: DIY Wine Bottle Tiki Torches

 

  1. Use faux stone to make the exterior of your home more appealing.

Skip the expensive aesthetic projects on the outside of your home. Putting in real stone can be extremely expensive and more than likely cannot be done on your own. This fake stone looks just like the real thing and makes your home’s exterior look ten times better!

Pinterest: Faux Stone Exterior Update

 

It doesn’t take much to spruce up your curb appeal. Even on a small budget, a little time and ingenuity can transform your outdoor space into a place where you will love to spend your time. Like our suggestions and want more project ideas? Follow us on Pinterest!

 

 

 OUR MISSION STATEMENT

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty, and ethics is the foundation of all of our relationships.

ABOUT INLANTA MORTGAGE

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations, and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for the third consecutive year in 2016. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016.