Buy Your First Home with East Wisconsin Savings Bank

Buy Your First Home with East Wisconsin Savings Bank


WELCOME BACK. ARE YOU READY TO BUY YOUR FIRST HOME? TURNED TO THE LOCAL EXPERTS AT PROCESSING, LOAN DECISIONS, SERVICING, IT’S ALL DONE IN-HOUSE. THAT HAS BECOME A RARE THING. Guest: ABSOLUTELY. WE JUST THINK IT’S REALLY IMPORTANT TO BECOME A LOCAL COMMUNITY BANK THAT DOES EVERYTHING IN HOUSE. IF THERE’S AN ISSUE WITH ANYTHING, YOU ARE REALLY CLOSE TO THE DECISION-MAKERS. FORTUNATELY TODAY I BROUGHT SCOTT WITH ME. HE’S A MORTGAGE EXPERT. Guest: AS A LENDER, I THINK WHEN WE UNDERWRITE EVERYTHING SO LOCALLY, I THINK IT’S A GREAT THING AND THAT WE DON’T HAVE TO FIT OUR MEMBER APPLICANTS INTO A BOX. IT’S NOT BLACK AND WHITE. THERE’S LOTS OF SHADES OF GRAY. ALL OF THE INDIVIDUAL MEMBERS CAN BE ON THEIR OWN MERIT. Chelly: YOU ALSO DO CONSTRUCTION LOANS AND LOT YOU HAVE IN THE LOT, WE CAN DO A ONE-TIME CONSTRUCTION CLOSING MEANING WE CAN COVER THE ENTIRE PHASE OF YOUR PROJECT IN ONE CLOSING, AT ONE SITTING. THE CONSTRUCTION PHASE ALL THE WAY THROUGH THE PERMANENT PHASE. THAT IS, WE CAN DO ONE CLOSING, ONE SET OF PAPERWORK, ONE SET OF CLOSING COSTS. IT WILL SAVE OUR CUSTOMERS A LOT OF TIME AND MONEY. Millaine: IT’S A SELLERS MARKET RIGHT NOW. WHY IS PREAPPROVAL SUCH AN IMPORTANT THING? Guest: BECAUSE IT’S SUCH A SELLERS MARKET. IT IS IMPORTANT TO GET PREAPPROVED. IT CAN BE TAKEN SERIOUSLY WHEN YOU’RE MAKING AN OFFER. THEY’RE NOT CANEVA WANT TO ACCEPT AN OFFER UNLESS YOU HAVE THE WRITTEN PREAPPROVAL IN HAND. THAT’S KIND OF WHERE I STEP IN. WILL HAVE AN IN PERSON APPOINTMENT WITH ONE OF OUR MEMBERS. IT’S INFORMATION GATHERING. I’M GOING TO GET AN IDEA OF WHAT YOUR BUDGET IS, WHAT YOUR INTENTIONS ARE, AND WHAT YOU HAVE TO PUT DOWN, VARIOUS SOURCES OF DOWN PAYMENT.AT THE TAIL END, WE WILL HAVE A PREAPPROVAL FOR YOU TO HAVE IN HAND GOOD FOR THE NEXT 90 DAYS. Chelly: A DOWN PAYMENT IS WE PARTNER WITH FEDERAL BANK. IT’S GRANT MONEY THEY CAN GO TOWARD YOUR CLOSING COSTS. THE WAY IT IS, IT’S NOT A CREDIT DRIVEN PROGRAM. STRICTLY AN INCOME DRIVEN PROGRAM. IF YOU ARE AT OR BELOW A CERTAIN THRESHOLD FOR THE IT’S IT’S OUT THERE PROVIDED YOU BY AN OWNER OCCUPIED HOME. Millaine: CAN YOU TELL US IF IT’S THE RIGHT TIME TO PULL EQUITY OUT OF OUR HOME? CAN YOUR EXPERTS GUIDE US THROUGH THAT PROCESS? Guest: YOUR HOME IS GOING TO BE ONE OF THE MOST VALUABLE ASSETS THAT YOU HAVE. IT’S A PERFECT TIME TO PULL OUT MONEY FOR HOME IMPROVEMENT PROJECT, VEHICLE PURCHASE, CHILD’S TUITION, OR DREAM VACATION. AGAIN, YOUR HOME IS THE BEST ASSET YOU HAVE. Millaine: CHARLIE, QUICKLY TELL US ABOUT THE SEMINAR. WHO SHOULD ATTEND AND WHAT’S UP FOR? Guest: GREAT OPPORTUNITY FOR PEOPLE NEW TO THE PROCESS, OR MAYBE YOU HAVEN’T DONE ANYTHING ON THE SCREEN, IT’S A WONDERFUL OPPORTUNITY FOR PEOPLE TO LEARN. Guest: AM HOLDING ONE OF THE 23RD.AT OUR SEMINAR, WE WILL HAVE A REALTOR THERE. WE WILL ALSO HAVE AN APPRAISER THERE TO ANSWER ANY QUESTIONS THAT YOU HAVE. WE WILL GUIDE YOU THROUGH THE ENTIRE TRANSACTION FROM THE POINT OF APPLICATION TO THE POINT OF CLOSING.

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