Home Loans

(Updated Dec 2024) While putting 20% down on a home loan is the most cost-efficient option long-term, we understand that down payments can be difficult for many borrowers to make. To assist home buyers who are unable to put at least 20% down on a home loan, Prevail Bank offers what is called Private Mortgage Insurance, or PMI for short. PMI does come with monthly premiums that are often included in the monthly mortgage...

You found the perfect house, saved for a down payment, and applied for a mortgage. But what types of expenses (mortgage closing costs) can you expect?

To help you prepare, Jenny Ebert, NMLS# 523594, Mortgage Loan Originator in Eau Claire Wisconsin provides a list of the possible expenses (closing costs) you might incur when purchasing a home.  Some closing costs are typically paid by the seller, some can be shared or negotiated as part of your offer, and other closing...

A lot goes into applying for a mortgage and deciding whether it is the right time for you. From knowing your budget, researching home loan programs, getting ahead on your debt, increasing your savings, and becoming pre-qualified. All are helpful in making the home buying process successful from start to finish.

Prevail Bank Mortgage Loan Originators Tina Dassow, NMLS# 2156923, and Lana Peterson, NMLS# 1236394, offer you helpful tips to help you make the best decisions in your home buying...

Are the high home prices and interest rates kiboshing your plans of home ownership? It doesn’t have to be hopeless. Follow these tips so when the right house, the ‘affordable’ house, is available, you can confidently make an offer.

If you’d describe the home buying landscape as terrible or nightmarish, you wouldn’t be alone. A PBS News Hour article (March 2024) says the U.S. housing market is...

Are you in the market for a car, apartment, or your very first home? If you answered yes to any of these, then you should focus on understanding credit scores and why they are essential.

A credit score is a 3-digit number (between 300 to 850) that your lender will use to determine your creditworthiness. Think of your credit score like a report card – it shows whether you've been meeting your debt payments on time. The lender uses...

House hunting can be one of the most exciting times in your life. Searching for the home with the perfect back yard, one with just the right kitchen counter space, or one where you can see your children or grandchildren making memories is both exhilarating and sometimes perplexing. How much house can you afford? After all, it’s probably one of the biggest investments you’ll make. So how can a mortgage pre-qualification set your mind at ease? Let’s see how.

We understand that this can be frustrating for you as a consumer. It's natural to assume that the bank sold your information to a third-party vendor. However, it's important to know that the bank did not sell your information.

The credit bureaus sold your information as a trigger lead.

Trigger leads are consumer reports created and sold by the credit bureaus and include data on...

Effective May 1st, 2023, Fannie Mae and Freddie Mac is making changes to the Loan-Level Price Adjustment Matrix.

These fee structure changes will impact all whole loans purchased on or after May 1, 2023, and for loans delivered into MBS with issue dates on or after May 1, 2023, unless otherwise noted here.

No, this mortgage fee structure change will impact only those loans that are sold directly to...

Remodeling a home can be an exciting and rewarding experience, but it also requires a considerable amount of time, effort, and money. Carefully consider the pros and cons of remodeling before taking on such a project. Homeowners typically consider remodeling when their current living space no longer meets their needs, or if they want to make improvements that will increase the value of their property.

You’re officially a first-time home buyer. Congratulations! Now the hard parts over, right? Not necessarily. What happens after you move into your new home? Costs associated with upkeep, improvements, and other expenses can and will pop up. If you aren't educated in these areas, you leave yourself open to making costly mistakes.

This article will help provide a step-by-step education for first time home buyers to help...