Minnesota mortgage and home loan info for first time buyers, MN down payment assistance and more
If you are first time home buyer in Minnesota I have something you need to see. I have obtained an updated list of all the special first time buyer programs available in the Twin Cities. There are fifteen of them, including several from Minnesota Housing, whose products I have used and endorsed for many years. [...]
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 [...]
This past week one of the three titans of mortgages, Freddie Mac, announced they agree with my assessment that mortgage rates will be going up in 2010. Now I am only waiting for Fannie Mae and FHA to announce that they think I am right too. (If you didn’t notice my name in any of [...]
(10/5/09) On Friday the bad employment news was good for interest rates. Today the bad news is spilling over to something maybe even better for potential home buyers: extending the home buying tax credit. CNBC.com has an article already questioning if the Democrats are in trouble for the next elections–13 months from now–because of the increasing [...]
This is HUGE! 3% down Conventional mortgages are back for first time buyers in the Twin Cities. Smaller down payments on Conventional loans are welcome news to anyone who has had their offer rejected because they were using FHA financing.
The ability to do anything less that a 5% down payment on a Conventional mortgage (not [...]
Currently there is a $7,500 Tax Credit available for first time home buyers which I have covered before. But, for a while now there have been rumors of more to come. I’ve been watching for the past several months as different groups (especially the National Home Builders Association) have been angling to expand this program and [...]
read an update on this issue
The biggest challenge facing home owners wishing to refinance their home into these great interest rates is whether or not they have enough equity. The way a mortgage company decides how much equity you have in your home is by comparing the outstanding balances on your home to the value [...]
Are there really special loans available for First Time Home Buyers (FTHB), and are they as difficult to find as the Loch Ness Monster?
Yes these loans exist, and with the right guidance they’re not difficult to find. They come in several different flavors, so matching your individual needs with the available opportunities is the key [...]
