Reach Your Financial Goals with Educated Mortgage
Buying a home is one of the biggest financial decisions you’ll ever make. The more prepared you are, the smoother the process becomes. From building equity to creating long-term financial stability, homeownership offers benefits that renting simply can’t.
Start the Home Purchase Process
Whether you’re buying your first home or you are an experienced buyer, we have a home lending solution just for you. Get a No-Obligation Rate and Closing Cost Analysis!
How Much House can You Afford?
The first step toward finding the right home is to quickly determine your home-buying budget and determine how much you can afford to pay each month. This saves you time by allowing you to focus on homes in your price range. In addition, in the planning stage, you should consider both the up-front and ongoing costs associated with purchasing a home.
Check How Much You Can Afford Calculator!
Upfront Costs
Down payment: Depending on the home purchase loan program selected and property type being purchased, the minimum required down payments range from 0-25% of the purchase price. The more you can put down, the lower your monthly payment may be, but be sure to have enough money left over for moving expenses, furnishings, and potential home improvements after closing.
Closing costs: We offer mortgage options to keep your closing costs as low as possible. We even offer some loan options with no or reduced closing costs! However, some closing costs may be unavoidable such as appraisal, title insurance, closing, credit report, and recording fees. We will always explain the costs associated with your mortgage options upfront to ensure you’re making an educated decision on the best mortgage for you.
On-going costs: Your typical home purchase costs include: monthly principal & interest mortgage payment, homeowner’s insurance, property taxes, mortgage insurance (if required), flood insurance (if required), utilities, and maintenance.
Home Purchase Basics
Congratulations on your decision to buy a new home! There are many important things to consider throughout the process, especially if you’re a first-time home buyer. Here’s some information that will keep you on track.
Count on Educated Mortgage to:
Count on Your Real Estate Agent to:
Count on Yourself to:
Helping First-Time Home Buyers & Homeowners Across Wisconsin
At Educated Mortgage, we provide expert mortgage solutions for first-time home buyers and all home purchasers across Wisconsin. Whether you’re looking for a low down payment option through WHEDA’s first-time home buyer programs or a conventional loan, we offer tailored financing solutions to meet your needs.
WHEDA loans provide affordable pathways to homeownership with down payment assistance and competitive rates, making it easier for first-time buyers to transition from renting to owning. Additionally, we offer conventional, FHA, and VA loan options for those looking to refinance or purchase a new home.