Mortgages

MORTGAGES AT PROGRESSIVE LENDING SOLUTIONS

Having a mortgage could prove to be the biggest and most important investment decision of your lifetime. Choosing the right mortgage is a critical part of the decision making. At Progressive Lending Solutions, we offer some of the most competitive mortgages in Minnesota and Wisconsin.

When looking into a mortgage and financing options, many key factors can play an important role in the decision making process. By utilizing the knowledge and experience of a Loan Consultant and Progressive Lending Solutions, you can be sure to get the best possible mortgage and loan for your situation.

Progressive Lending Solutions offers some of the most competitive fixed rate mortgages in Minnesota and Wisconsin. Whether you’re looking for a 10-year loan or a 30-year loan, a fixed rate conventional mortgage could provide financial stability in a world of economic uncertainty

Progressive Lending Solutions offers some of the most competitive adjustable rate mortgages (ARM) in Minnesota and Wisconsin. Whether you’re looking for a 3/1, 5/1, 7/1 or a 10/1 ARM, with a 30 year amortization, an adjustable rate mortgage could provide short term fixed rate programs. Most of the time, adjustable rate mortgages have lower interest rates than the conventional fixed rate mortgage products.

FHA Mortgage Loans are insured by the Deptartment of Housing and Urban Development. FHA loans are a good option when minimum down payment is a priority. FHA requires up-front mortgage insurance which can be financed into the loan and a monthly insurance premium.

Veterans Administration (VA) Mortgage Loans are guaranteed by the Veterans Administration for a term of 15 to 30 years. These VA loans are a good option for qualifying veterans to obtain 100% financing. VA loans require a funding fee which can be paid in cash or financed in the loan amount.

Progressive Lending Solutions offers some of the most competitive fixed rate USDA Rural Development mortgages in Minnesota and Wisconsin. To create down payment flexibility for our rural clients, USDA’s Rural Development program allows for LOW and NO down payment programs, generally no monthly PMI and with low interest rates. The USDA Rural Development program offers 30 year fixed rates and are popular for buyers looking for homes in rural areas.

Progressive Lending Solutions offers some of the most competitive fixed rate USDA Rural Development mortgages in Minnesota and Wisconsin. To create down payment flexibility for our rural clients, USDA’s Rural Development program allows for LOW and NO down payment programs, generally no monthly PMI and with low interest rates. The USDA Rural Development program offers 30 year fixed rates and are popular for buyers looking for homes in rural areas.

CONVENTIONAL FIXED RATE MORTGAGE
10 YEAR • 15 YEAR • 30 YEAR

Progressive Lending Solutions offers some of the most competitive fixed rate mortgages in Minnesota and Wisconsin! Whether you’re looking for a 10-year loan or a 30-year loan, a fixed rate conventional mortgage could be your ticket to financial stability in a world of economic uncertainty.

With a fixed rate mortgage, your interest rate and monthly payment will stay the same for the entire term of the loan. Fixed rate mortgages are popular because they protect homeowners from payment surprises and are very straightforward. Conventional Fixed Rate Mortgages are available in terms of 10 to 30 years. Private mortgage insurance is usually required for loans with less than a 20% down payment.

ADJUSTABLE RATE MORTGAGE
3/1 • 5/1 • 7/1 • 10/1

Progressive Lending Solutions offers some of the most competitive adjustable rate mortgages (ARM) in Minnesota and Wisconsin. Whether you’re looking for a 3/1, 5/1, 7/1 or a 10/1 ARM, with a 30 year amortization, an adjustable rate mortgage could provide short term fixed rate programs. Most of the time, adjustable rate mortgages have lower interest rates than the conventional fixed rate mortgage products.

Future market conditions can influence rate changes; however, built in rate caps and margins provide a measure of security and limited increases over the life of the loan.  As with our conventional loan products, PMI is usually required for loans with less than 20% equity or down payment.

FEDERAL HOUSING ADMINISTRATION MORTGAGE
FHA LOAN • 15 YEAR • 30 YEAR

Progressive Lending Solutions offers some of the most competitive fixed rate FHA mortgages in Minnesota and Wisconsin. Whether you’re looking for a 15-year loan or a 30-year loan, a fixed rate FHA mortgage can provide financial stability in a world of economic uncertainty.

FHA Mortgage Loans are insured by the Department of Housing and Urban Development.  These loans are a good option when minimum down payment is a priority.  FHA requires up-front mortgage insurance which can be financed into the loan and a monthly insurance premium.

With a fixed rate FHA mortgage, your interest rate and monthly payment will stay the same for the entire term of the loan. Fixed rate FHA mortgages are popular because they protect homeowners from payment surprises and are very straightforward. FHA Fixed Rate Mortgages are available in terms of 15 to 30 years.

VETERANS ADMINISTRATION MORTGAGE
VA LOAN • QUALIFYING VETERANS

Having a mortgage could prove to be the biggest and most important investment decision of your lifetime and choosing the right mortgage is a critical part of the decision making. Progressive Lending Solutions offers some of the most competitive fixed rate VA mortgages in Minnesota and Wisconsin. Whether you’re looking for a 15-year loan or a 30-year loan, a fixed rate VA mortgage could provide financial stability in a world of economic uncertainty.

VA Mortgage Loans are guaranteed by the Veterans Administration  for a term of 15 to 30 years. These loans are a good option for qualifying veterans to obtain 100% financing.  VA loans require a funding fee which can be paid in cash or financed in the loan amount.

USDA RURAL DEVELOPMENT MORTGAGE
LOW DOWN PAYMENT • NO DOWN PAYMENT

Progressive Lending Solutions offers some of the most competitive fixed rate USDA Rural Development mortgages in Minnesota and Wisconsin.

In in effort to create down payment flexibility for our rural clients, USDA’s Rural Development program allows for LOW and NO down payment programs, generally no monthly PMI and with low interest rates.

The USDA Rural Development program offers 30 year fixed rates and are popular for buyers looking for homes in rural areas.

VETERANS ADMINISTRATION MORTGAGE
VA LOAN • QUALIFYING VETERANS

These loans may include no income and no asset verification loans. There are many factors that can determine how the non-conforming loan is designed for the borrower. Some of the variables include:

  • The borrower may not be able to document all, part of or any income at all.
  • Asset verification may or may not be required and has to be reviewed on a case by case basis.
  • Loans can be structured which requires less documentation.
  • Credit problem borrowers are still eligible for certain non-conforming loan programs. (These may include late payments on outstanding debt, open judgments, collection accounts, and past due accounts.)
  • The borrower may require cash-out of the refinancing.
  • No P.M.I. required on most non-conforming loan products.
  • Plus Others

Contact Progressive Lending Solutions to Apply and Learn More.

BUY DOWN

The process of trading money for a lower mortgage rate. The borrower “buys down” the interest rate on a mortgage by paying discount points up front.

APPRAISAL

An estimate of market value placed on all real property and mobile homes. There are two kinds of appraisals: mass appraisal and fee appraisal.

POINTS

A point equals 1 percent of a mortgage or other loan. Some lenders charge “origination points” to cover expenses of making a loan.

CLOSING COSTS

Expenses incurred by buyers and sellers when transferring ownership of property. Closing can include lender fees, title charges, escrow and pre-paid items.

YOUR MORTGAGE. OUR COMMITMENT.

“Progressive Lending Solutions prides itself on incorporating unparalleled services with timely responsiveness to our clients. Our competitive advantage is the product of our experienced, knowledgeable and committed team of professionals poised to provide comprehensive consulting within the Mortgage Industry.”

JOE BECKER • PRESIDENT