• Green Bay Mortgage Success Story: Wayne and Leticia

    31 Mar 2015

  • Wayne and Leticia purchased a home 2 years ago and wanted to lower his Green Bay Mortgage payment.  When Wayne contacted GreenBay.WI-Mortgage.com, he mentioned that his desire was to lower his mortgage payment while also taking $15,000 out for some home improvements.  Anytime a potential borrower asks about taking money out for home improvements, it is important to find out exactly what the purpose will be.  The question comes down to if the home improvements are to pay for something that would potentially be negative in the appraisal.

    In this case, Wayne wanted to fix up the basement to build a fully decked out rec room where he can watch his Packers every Sunday with his friends.  He had already purchased some of the supplies but realized that he was going to need more money to do exactly what he wanted to do.  He wanted to add a bathroom in the basement as well so the guys didn’t have to trek through the house and bother his wife while she was watching TV upstairs.  It was very important for Leticia to get a Green Bay Mortgage so she could watch TV on Sundays.

    After spending about 45 minutes with Wayne discussing the Green Bay Mortgage and his beloved Packers, we determined that he was credit and income qualified for the new Green Bay Mortgage.  Both Wayne and Leticia have been employed at their jobs for over 3 years each and everything else looked totally in order.

    I ordered the appraisal and when we received it back, the value was a little short of what we needed to get the entire amount that they were requesting for their new Green Bay Mortgage. So I went to work and attempted to challenge the value of the property with the appraisal management company.  In my research, I was able to locate a sale that occurred since the appraisal was done.  In addition, I challenged a few of the amenities of the home.  In the end, the appraiser accepted my challenge and we were able to justify the additional $3,000 in property value needed to give Wayne and Leticia the cash out they needed for the project.

    The time it took from application to the closing, including the time for challenging the appraisal value, was 16 days!  That is unheard of in an industry that regularly sees 1 to 2 months to get Green Bay Mortgages done.  Wayne and Leticia are now enjoying their 3.75% 30 year fixed interest rate.  The payment on their Green Bay Mortgage went up a total of $17 per month to get $15,000!

    If you are interested in doing any home improvements and are in need of financing for it, do not hesitate to call me first to see how much money I can get for you in less than 3 weeks.  I encourage you to contact me at 855-712-3113 as soon as possible so you can be just as happy as Wayne and Leticia will be when he is in his basement rooting the Packers on!