The current low interest rates still leaves many markets accessible to average income Americans outside of traditionally high cost areas, including MN First Time Home Buyers. However, there is potential that pairing the increasing interest rates with increasing home values can absolutely affect the cost of housing even if the actual prices don’t rise quickly or dramatically.
With the weather threatening to stay above zero for the first time in Minnesota for the entire upcoming week, who could blame those who have been hunkering down and staying indoors? That said, if you’re considering buying your first Minnesota home or your next Minnesota home, you may want to get the ball rolling sooner, rather than later. Why?
Being armed with the knowledge you need to make informed decisions on one of the largest purchases you may ever make is priceless, but the information is free! There’s no one loan program that works for all MN first time home buyers – there are a variety of options and different guidelines for different financial circumstances. Let us help you take the first step toward your first home purchase with confidence!
Today is the day that MN first time home buyers can rejoice! The changes to MN Housing’s Start Up and Step Up programs go into effect today, January 29th. , MN Housing has made some fabulous changes to how household income is calculated for MN first time home buyers with their Start Up program and non-MN first time home buyers with their Step Up program. They are serious about helping MN first time home buyers realize the dream of homeownership! And so are we!
How did we fare year end of 2013 in the Minnesota real estate market? It looks like the market recovery continued throughout the year! In the Twin Cities, there had been lower supply levels making for a strong demand and helped home value prices show positive recovery. The level of demand we saw in 2013 had not been seen since 2005!
For years, down payment assistance was only available to MN first time home buyers. Folks buying their second or third home didn’t have the opportunity to get down payment and closing cost assistance because they didn’t meet the MN first time home buyer definition. MN Housing saw this need and came to the rescue about a year ago when they began offering down payment and closing cost assistance to NON-MN first time home buyers via their Step-Up program.
Thank you to this month’s first time home buyer class attendees for joining us at last night’s event. As usual, those who attended came in with a good questions that are typical of the MN first time home buyer in Minnesota. Continue reading for a few of the questions and answers from this week’s class.
Minnesota Housing’s upcoming changes will open the door of opportunity for many future MN first time home buyers. Effective January 29th, more MN first time home buyers will be eligible for down payment assistance with MN Housing because the household income definition will be changing FOR THE BETTER!
Are you looking for answers? We’re inviting you to our monthly MN first time home buyer class on real estate and mortgage lending. It is a 90-minute, no-cost, no-obligation home buyer class designed to assist home buyers in today’s Minnesota real estate market. During this home buyer class we will touch on a number of “new normals” for today’s MN first time home buyer including the impact of recent changes to mortgage lending.
Are you ready to buy your first home? Look no further! We have a No-Cost, No-Pressure educational event to help you get started and leave with a complete understanding of the home buying process and options available to you as a MN first time home buyer. Read more for details on how to gain confidence in buying your first home!
Watch this video for information on the upcoming First Time Home Buyer Class
MN First Time Home Buyer Class
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