A “One-Stop Shop” Mortgage Broker.

Financing your home shouldn’t be stressful. As experts in the mortgage industry, Cream City Mortgage will guide your homeownership process in the Greater Milwaukee Area & Wisconsin through financing, loan products and options, and get you to the closing table on time. You find your dream home and we will do the rest!

One size does not fit all.

As Milwaukee’s top Mortgage Brokerage, we recognize the different needs of different people. Just as everyone is not a size medium, Cream City Mortgage understands this as a need for creativity!

Loan Products

  • Conventional loans are mortgages not backed by a government agency. They are then referred to as “conforming” and “non-conforming”. Conforming loans follow guidelines set by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

    Most homebuyers assume that conventional loans require a 20% down payment, but this is not always the case. First-time homebuyers can put as little as 3% down on a home and still qualify. With more flexibility and fewer restrictions, this may be the loan for you!

  • The interest rate remains the same for the life of the loan, which protects you against rising rates. Most conventional loans come with the option of a 10, 15, 20, 25, or 30-year term. The lower the term, the faster you will build home equity, but the higher your monthly payment will be.

  • Also referred to as an ARM, these mortgages come with interest rates that can fluctuate after the initial fixed-rate term. These are beneficial when you think you might be in the home for a short amount of time, or if current fixed-rates are too high for your budget.

  • These non-conforming loans are for homes that are above the conforming limit set by the Federal Housing Finance Agency. The conforming loan limit does change each year to keep up with market prices, so check with us to verify. If you have a low debt to income ratio and an above average credit score, but do not have a big enough down payment to keep your loan amount within the conforming limits, a jumbo loan could be your best option.

  • Mortgage Brokers, like Cream City Mortgage, have the ability to originate and manage government-insured mortgage loans. Government-insured loans have many perks that conventional loans do not. One of the most common government-insured loans is an FHA, or Federal Housing Administration, loan. The goal of the Federal Housing Administration is to encourage homeownership among those who might not otherwise be able to afford it.

    They will accept lower credit scores (can be as low as 580), they only require 3.5% of the purchase price for a down payment, and they have more affordable mortgage insurance options.

    A major benefit of FHA loans is that you can use them to buy a new home even with a history of bankruptcy or foreclosure. Borrowers with a Chapter 13 or Chapter 7 bankruptcy can apply for an FHA loan two years from their discharge date. Borrowers with a foreclosure history can apply for an FHA loan three years after the foreclosure.

    You can use an FHA mortgage to purchase a home, refinance, or pull cash out from your home’s equity through a cash-out refinance option.

  • Item description

  • “Blake was competent and professional. The process was smooth and his team was great to work with.”

    Lance A.

  • “Blake was very timely with his responses, and he was very thorough with his explanations.”

    Cody

  • “We had a challenging situation but our realtor told us to call Blake and he was able to pre approve us quickly and we made an offer that night!”

    Lindsey R.

  • “Quick to reply and great communication from the whole team.”

    Grace R.

  • "Gustavo has been so great to work with while buying my first home! He really taught me so much about the home buying process and made sure I was fully informed of everything that goes into the process. I couldn't have done it without him!"

    Annie M.

  • "Gustavo has been so great to work with while buying my first home! He really taught me so much about the home buying process and made sure I was fully informed of everything that goes into the process. I couldn't have done it without him!"

    James C.

  • "John is my go to lender. He is timely, efficient and dedicated to his clients. He gets the deals to the closing table with ease. I wouldn't want to put my clients in the hands of anyone else! Couldn't recommend John and the Cream City Mortgage team more."

    Kayleigh N.

  • "Couldn't find a better Loan officer if you tried! John was there every step of the process, and extremely helpful. If you are looking to purchase a home, your first call should be to John!"

    Westin S.

FAQS

  • On average, 30 days. At Cream City Mortgage we can move much faster if needed. We have closed loans in 10 days, and sometimes buyers don't want to move for another 120 days!

  • Heck no! The national average is 12% down. We can help you determine what makes the most sense for you.

  • When you escrow your taxes and home insurance, those monthly costs are cooked into your monthly payment and held in an escrow account by the lender. When due, the lender will pay your taxes and insurance on your behalf.

  • If you put less than 20% down, yes....with most other lenders! Cream City Mortgage offers the opportunity to waive escrowing even if you don't put 20% down...at no additional cost!

  • Private Mortgage Insurance. If you put less than 20% down, you will pay PMI. The PMI rate is determined by loan amount and credit score. It can range from $20/month to $250/month. Believe it or not, sometimes it's financially beneficial to pay PMI rather than come up with 20% down. It is a myth that PMI is bad.

  • You can add a "non-occupying co-borrower" such as a parent or even a friend. They would be under the same scrutiny as you, but they don't have to occupy the house!

  • Absolutely NOT. Did you know it's illegal for a broker to charge additional fees? In fact, you don't pay us a penny. Ever. That's beautiful.

  • Whenever it makes sense! It's all about cash flow and what makes sense for you. Even if your rate only gets better by .25%, but you have the opportunity to get rid of PMI, then let's do it!