Resources
The Michael Creed Team at Luminate is always working hard to provide you with the best mortgage resources and financial advice possible. We are fueled by a deep desire to help people, to get to know our clients, and to help those around us not just grow, but thrive.
Whether you're a first time home buyer, you're looking to refinance, looking for a trusted (and local) Wisconsin mortgage lender, or have any other unique financial situation, we'll help you understand all your options so you can get into the home of your dreams.
Preparing for the Loan Process
Items Needed for Pre-approval
- W2s from the last two years
- 1040 Federal Tax Returns from the last two years (all pages)
- If you are a business owner, you will need business tax returns and K1s
- 2 most recent paystubs
- 2 months of recent statements for all assets (checking, savings, money market, retirement, etc.)
- Driver’s license or passport
- Other documentation may include: offer letter for employment, school transcripts, social security or pension award letters, divorce decree, bankruptcy papers, short sale documentation.
Information Sent to Your Realtor
We will send an email to your realtor, explaining the program you are approved for, closing costs needed and any other details they may need to know.

Conventional
A conventional loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), Farmers Home Administration (aka, USDA) and Department of Veterans Affairs (VA).
- 3 or 5% minimum down payment
- Good Credit
- No upfront fee
- No private mortgage insurance (PMI) with 20% down
- PMI removed at 78% LTV (primary home)

FHA
An FHA loan is a mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment.
- 3.5% minimum down payment
- Easier to Qualify, more flexible for lower credit scores
- Monthly mortgage insurance
- Upfront fee to FHA is 1.75% of loan, rolled into loan

VA (Active Military & Veterans)
A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).
- 0% down payment
- Must meet VA enlistment qualifications for program
- Upfront fee to VA is 0.00% of Loan, rolled into loan (VA waives for certain military status/disability ratings)
- No monthly mortgage insurance

USDA
A USDA loan, also known as the USDA Rural Development Guaranteed Housing Loan Program, is a mortgage loan offered to rural property owners by the United States Department of Agriculture.
- 0% down payment
- Property must be located in qualified area
- Maximum household income limit is based on number of occupants (varies by State/County)
- Upfront fee to USDA is 1.0% of loan, rolled into loan
- Minimal monthly mortgage insurance
Mortgage Loan Process
The mortgage loan process can seem complex to many, but we'll work with you to guide you through every step so you never feel lost or overwhelmed.
1
First things first—apply for pre-approval via our "Apply Now" button at the top of this page!
2
Once we receive your requested documents, we'll schedule a time for us to meet. We'll review your mortgage options, talk about the home buying process, and issue your pre-approval.
3
Now the fun starts and you can start searching for your dream home!
4
Once you find a home and your offer is accepted, your interest rate will be locked in.
5
Next, we'll get your appraisal moving and title work will be ordered.
6
Once the appraisal and title work are complete, your loan will be sent to Underwriting Review.
7
When you receive final figures for closing, you know you're almost there!
8
And the final step—attend closing with your driver's license and receive the keys to your new home!
Common Questions
Want your free guide to our mortgage loan process?
The mortgage loan process can seem complex. Luminate, and specifically the Michael Creed Team, wants to ensure you feel educated as you move through the process. This resource packet will outline the steps you will take with Luminate as you work towards your mortgage loan.
And the best part? It's free for you to download any time! Simply input your info below to get access.