Your Local Mortgage Lender
Located in Appleton, Wisconsin
Personalized Mortgage Experience
Tom Seaman offers personalized service and loan options you'll love. We shop multiple lenders to find the best rate and product for you, getting you into your dream home faster.
With wholesale interest rates and cutting-edge technology, we make the mortgage process seamless. Trust the experts who focus solely on mortgages. Support your local community and experience elite client service.
Let us help you achieve your homeownership dreams!
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Experience the best mortgage experience located in Appleton, Wisconsin.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
The Short Term Rental Tax Loophole That Lets Six Figure Earners Legally Pay Zero in Income Taxes
The Short Term Rental Tax Loophole That Lets Six Figure Earners Legally Pay Zero in Income Taxes
The Tax Strategy That Changes the Math on Real Estate Investment
People who earn six figures a year are legally paying zero in income taxes and they are doing it with a real estate strategy that most people have never heard of. It is completely legal. Thousands of investors are using it right now. And the numbers just got even better thanks to recent legislation.
Here is how it works.
The Difference Between a Landlord and a Business Owner
Most people who buy an investment property rent it out long-term. That is a reasonable and time-tested strategy but it leaves a significant tax advantage on the table that short-term rental operators can access and long-term landlords cannot.
When you operate a property as a short-term rental you are not a landlord in the tax code's eyes. You are running a business. That distinction matters enormously because it unlocks something called accelerated depreciation through a mechanism known as a cost segregation study.
What Accelerated Depreciation Actually Does
A cost segregation study breaks a property down into its component parts and assigns different depreciation schedules to each component. Rather than depreciating the entire property over the standard 27.5 year residential depreciation schedule certain components can be depreciated over dramatically shorter periods.
Thanks to legislation signed recently the numbers on this strategy have improved significantly. A cost segregation study on a short-term rental property can now allow investors to depreciate approximately 30 percent of the property value in year one.
On a $400,000 property that is a $120,000 deduction in the first year of ownership.
What That Means for Your Tax Bill
The math is straightforward. If you earned $120,000 in income during the year and you have a $120,000 depreciation deduction from your short-term rental property those two numbers offset each other. Your taxable income for the year is effectively zero. Your tax bill on that income is zero.
And while your tax bill on your earned income is being eliminated by the depreciation deduction your short-term rental property is generating income every single month from guests paying to stay there. The property is producing cash flow while simultaneously creating a tax deduction that offsets income from your primary career.
The Important Caveats Worth Understanding
There are specific requirements that determine who can fully use this strategy and how it applies to different income levels and investor situations. The short-term rental loophole has income thresholds and material participation requirements that affect how the deductions can be applied. The recent legislative changes affect the bonus depreciation percentage and the specific rules around cost segregation studies.
As Tom Seaman notes every investor's situation is different and this strategy should always be confirmed with your tax professional before implementation. The general concept is widely used and completely legal but the specific application to your income level, your property type, and your overall tax situation requires qualified tax and legal guidance that goes beyond what a mortgage discussion can provide.
What This Means for How You Finance the Investment
The tax strategy is only available if you own the property and financing the acquisition correctly is the first step. Understanding which loan programs support short-term rental investment properties, how rental income is counted toward qualification, and how to structure the financing to support the investment strategy from day one is where the mortgage conversation begins.
Tom Seaman works with real estate investors to understand the financing options available for short-term rental property acquisitions and to structure purchases that support the investor's overall strategy. Share this with someone who wants to pay less in taxes this year and reach out to Tom Seaman to discuss what the financing side of this strategy looks like for your specific situation.
Sources
IRS.gov
Forbes.com
Investopedia.com
BiggerPockets.com
WallStreetJournal.com
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