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Wausau Home Mortgage Loans
Determining your loan-to-value (LTV) ratio is an important part in the process of obtaining a Wausau home mortgage loans. When the ratio between the loan amount and the value of the property is 80% or more it becomes necessary to pay private mortgage insurance. This is because the higher the LTV ratio, the lower is the equity and hence greater the risk to the lender. High LTV loans carry a higher mortgage rate and are more difficult to qualify for. Some lenders can ask for a second appraisal in the case of borrowers with high LTV ratio. You should consider going to another lender if this leads to lowering the appraised value of the property.Check out the latest Wausau Home Mortgage Loan rates from mortgage lenders.
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The following table features mortgage loan trends housing preferences and in Wausau .
Wausau Mortgage Statistics |
| Homes With No Mortgage |
35% |
| With A Mortgage |
65% |
| First Mortgage Only |
48% |
| Second Mortgage or Home Equity Loan |
16% |
| Home Equity Loan Only |
7% |
| Second Mortgage Only |
9% |
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| Wausau Housing Expenses |
| Owner Costs as % of Income |
17.3% |
| Median Real Estate Taxes |
$1977 |
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| Wausau Housing Stocks |
| Median year built |
1953 |
| Year built owener occupied |
1953 |
| Renter occupied year built |
1954 |
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| Wausau Housing Market Data |
| Population |
54,425 |
| Median Age |
37 |
| Median Household Income |
$51,492 |
| Total Housing Units |
12,782 |
| Average Home Price |
$123,227 |
| Owner Occupied |
66% |
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