CAP Services Receives Mortgage License Renewal
For the City-Times
CAP Services’ Mortgage Banker License was recently renewed through the Nationwide Mortgage Licensing System and Registry (NMLS).
“This renewal demonstrates our staff’s continued commitment to training and keeping up to date on the latest rules and requirements,” said Mike Olson, CAP’s Senior Vice President and Director of Housing. “In turn, our clients can be confident in the assistance they receive from us.”
CAP offers down payment and closing cost assistance for households with incomes at or below 80% of county median income. Applicants must reside in Marquette, Lincoln, Portage, Waupaca, Waushara, Marathon or Wood counties.
CAP typically helps 15 to 20 households each year buy their first home and helps another 50 to 75 households rehabilitate their homes. CAP has helped a total of more than 1,400 homebuyers and homeowners buy and/or rehabilitate homes.
Housing funds are distributed through 2.25% interest-deferred loans due when the buyer sells or no longer resides in the original qualifying home. Repayments are reloaned to additional qualifying buyers, creating an ongoing source of affordable funds for homebuyers and homeowners. Whenever possible, CAP works with other funders to reduce its share of loans.
Households interested in applying for a loan should contact Kris Pethick, CAP’s Assistant Director of Housing, at 715-343-7142.
CAP Services is a private, nonprofit community action agency that has been helping low-income people in Waupaca, Marquette, Outagamie, Portage, and Waushara counties attain economic and emotional self-sufficiency since 1966.