Leverage a low Debt-to-income ratio with your credit score

Your debt-to-income ratio is exactly what it sounds like: the amount of debt you have compared to your overall income.

To calculate your overall debt-to-income ratio add up all of your monthly debt. Take this total and divide it by your gross monthly income from all sources.

While debt-to-income ratios don't have the kind of buzz that credit scores do, they can play a key role in determining if you qualify for a loan and how much you can get.

While other factors, such as your credit score and length of time in your home or job, will come into play into this equation, a good debt-to-income ratio can give you leverage to negotiate if other factors aren't in your favor.

To learn more or to get a great rate online contact us at Midwest Mortgage

Midwest Mortgage

Lower your mortgage payments while you still can!

Mortgage rates rose a for the sixth time in seven weeks as investors agreed to look on the bright side of the economic picture.

Make sure you lock into one of today's great rates before it is too late.

Please contact us for details.

Midwest Mortgage

30 Year Fixed Rate with a Payment Option

Midwest Mortgage is now offering a mortgage with a 30 year fixed rate along with the flexibility of payment options that an option arm provides! Lock into a great rate and still enjoy different payment options on a month to month basis.

Contact us for more details and how to enjoy the best of both worlds.

Midwest Mortgage

Mortgage after Bankruptcy

Many people believe that once they file for bankruptcy they will have a difficult time getting a mortgage loan. However, there is still hope for being approved even with a recent bankruptcy. If you have bad credit and apply for a mortgage loan, more emphasis will be placed on your income your down payment.
You do not have to wait two years

Most lenders prefer to wait until two years after your bankruptcy before considering a person for a mortgage loan. After these two years, it should be relatively easy to get financing. In addition, you will probably be able to get one hundred percent financing. This will happen as long as all your payments have been reported as on time to the credit bureau since your bankruptcy.
We can help you

Midwest Mortgage will assist you in selecting a program that will fit your needs and may be able to help you look at certain programs that do not require you to wait 2 years. Please contact a Midwest Mortgage consultant and have them show you which programs are available.

Midwest Mortgage

2007 - The year to get out of your current ARM

With current interest rates hovering around 6 percent, and the average adjustable rate mortgage payment skyrocketing, start out 2007 with a money saving refinance. If you are looking for a 30 or 40 year fixed, a pick a payment mortgage with a fixed rate, or would like to get another adjustable rate mortgage, we are here to help.

We have great rates and some amazing programs to get your payment where you want it to be.

Please contact us at Midwest Mortgage and join our family.

Midwest Mortgage