Winter-Proofing Your Home the Smart Way

As the temperatures begin to chill, many regions of the country face snow and rain that can wreck havoc on utility bills and your overall home comfort. We have a few questions you should consider when assessing how prepared your home is for cold weather.

Is your home leaking?

The most obvious way to keep your home cozy in winter is to keep the warm air in and the cold air out. 

A leak can present itself in many forms but essentially it allows for the outside air into your home. Examples include:
• Gaps under doors and around windows
• Poor wall insulation
• Gaps around plumbing, wiring, light fixtures and flues
• Un-sealed joints in heating/air conditioning ducts
• Poor insulation between attics/basements and main areas of the house
• Chimneys that cannot be closed

[NEWS] Federal Reserve Study Says It's Getting Easier to Qualify for a Home Mortgage

Yahoo News (Homes Division) reported this morning that buying a home is actually getting easier. They add that if you've gotten turned down for a mortgage in the past few years, now may be a good time to re-apply.

"That’s because, according to Ellie Mae research, in July 2014, 67 percent of all mortgages applied for closed. That’s way up from six months before in January 2014 and also in July 2013, when the rate of mortgages that closed were at just 53 percent at both times." (Source: Yahoo Homes)

According to the president of Ellie Mae, Jonathan Corr - this is due, in part, to lenders easing their qualifying standards.

Yahoo goes on to point out three key reasons the industry is getting more flexible:

How Do Mortgage Interest Rates Work?

Whether it’s a home, auto, business or personal loan – odds are you've had to deal with interest rates. Essentially, the interest rate determines how much it will cost you to borrow money so naturally the higher or lower the interest rate quoted will help determine whether you should agree to the loan. When it comes to home financing, understanding the constantly change interest rate landscape can be confusing. We’re here to help make it easy!

Your Level of Risk Plays a Role

If you've ever seen a mortgage ad – whether on TV or in print – you’ll notice how the company points out low rates in big bold letters. However sometimes that low rate will only be offered to a select group of people – why? When you apply for a home mortgage, the lender will base your rate on your level of risk. If you have a high credit score, lenders will quote you a better (lower) rate. If you have a poor credit score, your level of risk is higher and for the same loan, you might have to pay a higher interest rate.

Spotlight on the Milwaukee Office

The Midwest Equity Mortgage - Milwaukee office serves the entire state of Wisconsin. We are available for appointments in office, over the telephone, or in your home or place of business.

Bill Livesey, Branch Manager – Milwaukee

William (Bill) Livesey

Bill attended the University of Wisconsin-Milwaukee where he graduated with a BA degree in Finance in 1989. He spent 13 years in the Finance and Credit industries, where he held numerous management positions. In early 2004 he transitioned into the Mortgage industry. He spent several years as a Mortgage Consultant, and is currently the Branch Manager of our Brookfield office. Bill’s twenty plus years of experience are a great asset to his customers when finding options to save them money. Bill and his wife Lisa reside in Greenfield, Wisconsin, along with their four children Joseph, Justin, Tyler, and Amanda.

What Does it Mean to Be Mortgage Assured When Buying a Home?

The Mortgage Assured program from Midwest Equity Mortgage is a unique option to give you the power to get the home you want.

How does being Mortgage Assured Appeal to Sellers?

The market has gotten competitive and with the increasing number of cash buyers making offers - it can be hard for a financed offer to compete.



When you're Mortgage Assured with Midwest Equity - you have more than just a Pre-Approval which means you'll look more serious than other financed offers.

How Does Mortgage Loan Underwriting Work?

Whether looking to buy a home or refinance, you will likely apply for a mortgage loan and encounter about the underwriting process. Lenders and loan officers might mention “underwriting” but few home-owners and buyers might actually know exactly what this step is and how it impacts their ability to secure financing.

What is Underwriting?

Underwriting is a process that allows lenders to determine if you qualify for financing based on your level of credit risk. An underwriter is a skilled in-house person who looks at every aspect of your financial profile to determine if its possible and likely that you can repay the debt. The underwriter will consider your mortgage application and verify the information you’ve submitted. This can include verifying with your employer that you are currently working. They may also compare bank statements and tax records to ensure you have substantial income to repay the loan.

Spotlight on the Miami Office

The Midwest Equity Mortgage - Miami office serves South Florida and other areas across the state. We are available for appointments in office, over the telephone, or in your home or place of business.

Phil Engel, Branch Manager

Phil Engel

Phil began his career in mortgage banking by trading mortgage back securities on Wall Street. From there, he represented major Wall Street investment firms like Wells Fargo and Merrill Lynch before transitioning to the retail end of the industry. Phil is proud to be the father of two grown children and a baby grandson.

Phil oversees all daily operations of our Miami Office. As a producing manager, Phil keeps on top of the changing market and is a valuable resource to the office. Should you have any questions about your loan application which cannot be answered by your loan officer, or should you desire to reach out to Phil about anything, he is available anytime. Phil can be contacted at 305-384-1800.