Minnesota mortgage and home loan info for first time buyers, MN down payment assistance and more
The 2010 City Living program for first time home buyers in Minneapolis and St. Paul was rolled out today. There are two options on this program, just like there used to be for anyone familiar with the program. For either option the buyer can get a FHA or VA loan–no Conventional mortgages.
Option 1 is a [...]
On Wednesday afternoon (the day I write this) HUD Secretary Shaun Donovan will be making a presentation to the House Financial Services Committee. According to a story first reported by national real estate columnist Kenneth Harney a number of changes, including increased down payments, higher minimum credit scores and raising the cost of mortgage insurance could [...]
FHA loans in the Twin Cities can officially go up to $365,000 again. This higher limit was first created as part of last year’s Stimulus Bill 2.0. Once the calendar flipped to 2009 the limits dropped back down to $316,000 for the Twin Cities.
Today the Depart of Housing and Urban Development (HUD) officially announced those higher [...]
It’s official, FHA loans in the Twin Cities can go up to $365,000 again. This was the limit that was created last year as part of Stimulus Bill 2.0. Then, when the calendar flipped to 2009 the limits dropped back down to $316,000 for the Twin Cities. Today the Depart of Housing and Urban Development [...]
Yesterday we had several people call into the radio show asking questions that at the end of the day had the same solution. It is not uncommon that when someone looks into buying their first home they discover there are some weaknesses in the financial profile. An easy solution when it’s available is to have [...]
Why would someone prefer a FHA loan or Conventional loan I was asked by a client this week. Great question, since FHA loans had virtually disappeared as an option for Minnesota first time home buyers until a year ago, most people–including Realtors–no longer know about the virutes of FHA loans.
Here are 5 great reasons why home [...]
FHA Secure, the original plan launched by the Bush White House in the Fall of 2007 to bail out “at risk” home owners is being shuttered. It was only supposed to last through the end of 2008 in the first place, but certainly could have been extended if it was more successful. In the end, it [...]
