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 [...]
It was announced this afternoon (10/01/09) that Minnesota Housing is going to increase the amount of down payment assistance available to first time buyers in Minnesota who are using its CASA program. Currently first time buyers in the Twin Cities can receive $3,000 toward the down payment or closing costs. After October 5th they will be [...]
Back when the $8,000 first time buyer tax credit was finalized the end of November seemed so far away. But when you apply the typical timeline of a real estate transaction to today’s calendar we’re more than halfway to the end of this program, which requires that the buyer will have closed on the purchase [...]
Foreclosure Remediation Buyer Assistance Program
Foreclosure has affected some suburban Ramsey County communities more than others. Federal Neighborhood Stabilization Program funds are being made available to strengthen neighborhoods where greater numbers of foreclosures have occurred. FirstHOME Buyer Assistance funds continue to be available to first-time buyers of suburban properties throughout Ramsey County.
Under the Ramsey County Opening [...]
UPDATED POST
The basics of the program work like this:
must be a first time buyer
who works in a specific job or field
earns less than the income limits
buys in the city limits of St. Paul, MN
can put in a down payment of 1.75% of the sales price.
$5,000 is basic assistance, $10,000 if it’s a bank owned home [...]
A while back I had written that the Silver Lining down payment assistance program in Dakota County had a fatal flaw to it, which rendered it essentially useless. I did point out that it was actually not their fault, as the flaw was created by the Federal Government’s requirements on the program.
I want to give [...]
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 [...]
