Category Archives: Homeowner Info

Should a Home Seller Pay the Buyer’s Closing Costs?

Assisting a buyer with paying all or part of their closing costs may just be the ticket to getting your home sold—even in a hot market. Depending on the buyer, they are usually required to make a minimum down payment. … Continue reading

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11 Questions to Ask Yourself If You Are Thinking of Selling “For-Sale-By-Owner”

When the time comes that you decide you want to sell your home, the question you might ask yourself is, “Should I list my home with a Realtor or try to sell it myself?” The choice is yours. However, we … Continue reading

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How to Shop for a Real Estate Agent that’s Right for You!

Buying or selling a home can be exciting.  But it can also be a mixture of fear, anxiety and anticipation because it means a new chapter in your life. So, choosing the right real estate agent is one of the … Continue reading

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Is it Time to Build a Home? Questions to Ask Yourself!

There comes a time in your life when you might ask yourself, “Is it time to build a new home?” It can be a tough decision. Your current home may be “good enough.” Or you look around and there are … Continue reading

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Does It Really Help to Round up Your Mortgage Payment?

Recently, we’ve had clients ask us about how to prepay on their mortgage. Of course, if you have an extra $100 per month, you may just want to add that to your monthly payment. But there’s another way…by rounding up … Continue reading

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Small Remodeling Tips that Pay Big Returns

Do you ever watch those “remodeling “ shows on TV?  It seems like they totally gut a room and then spend thousands of dollars and a lot of time turning it into something fabulous. If you’re not quite ready to … Continue reading

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The Different Levels of Homeowner’s Insurance: What You Need to Know

Most standard homeowner’s insurance policies cover damage to your home for theft, fire, lighting, smoke, frozen pipes, ice or certain types of weather damage. It usually covers you up to a certain dollar amount if someone is injured on your … Continue reading

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“Our Simply…Local events are just that, Simply…Local”

How does a Simply…Local Bank stay local? By continuing to be involved in the community, of course! Great Midwest Bank has been active in a variety of local events this past month with plenty more events on the horizon. Those … Continue reading

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Turn the Key with GMB

 Whether you believe us or not, warmer spring days ARE on the horizon. With warmer days come many fun festivities and once-in-a-lifetime moments. Your daughter’s first Easter egg hunt in Grandma’s backyard… Mom pinning Johnny’s boutonniere before he poses for … Continue reading

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Should I Buy a Condo?

Buying a condo is a relatively affordable, low-maintenance alternative to the traditional single-family home.  And – as with all major investments – there are a few key issues to understand before taking the plunge. One of the most important issues … Continue reading

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Four Strategies to Avoid Getting Stuck in a “Bidding War”

More often in today’s real estate market, buyers find themselves in an all-out ‘Offer Competition’ when trying to buy their dream home.  They have already done their homework by getting pre-approved, determining what neighborhood they want to live in, and what type … Continue reading

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Considering a Major Remodel? We have Options.

Location, location, location. We’ve all heard this about real estate – and it’s so true, right? You love your neighborhood, your schools and getting to work is so convenient. But your house no longer meets your needs. If you’re considering … Continue reading

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Appraised Value vs. Assessed Value – What’s the Difference?

As a homeowner or home buyer, it’s important to understand the difference between the ‘Tax Value’, usually referred to as ‘Assessed Value’ and the ‘Appraised Value’ when trying to determine the ‘Fair Market Value’, which presumably should be at or … Continue reading

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Simply… Local. That’s Sue Berg Roedel.

Sue Berg Roedel stepped off a Milwaukee city bus in June 1973, blissfully unaware she would spend the next four decades dedicated to Great Midwest Bank.   “I was 17 years old, looking for a job, and Great Midwest Bank was … Continue reading

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Cash to Close

So you’re thinking about buying your first home.  Or maybe selling and moving up.  Though most prospective borrowers come to me with some idea of the funds necessary for down payment, many don’t have a good grip on the additional … Continue reading

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LTV, PMI, FHA & FNMA – Huh?

Like most industries, we love acronyms in the mortgage world. LTV is the loan amount divided into the value, where value is determined as the lesser of the appraisal or, if you’re buying, the purchase price.  This is the point … Continue reading

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Interest Rate Shopping & Credit Scores

Perhaps the most frequent question I get about credit scores pertains to multiple inquiries. Those shopping for a mortgage are often hesitant to apply at multiple banks for fear of seeing their credit score fall.  This article – straight from … Continue reading

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The Mystery of Credit Scores

I’ll admit it.  After more than a thousand mortgage loans in 10 years, I’m often perplexed by the formulas used by the major credit agencies that provide mortgage lenders – and other credit issuers – with consumer scores.  Though I’m … Continue reading

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Buying a home? Consider WHEDA!

Rumor has it that it’s more difficult than ever to finance a home purchase these days. Most of what I hear in that regard is fairly exaggerated – or completely false. After 10 years of originating mortgages, I can plainly … Continue reading

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