From the yearly archives: 2010
2011 is our year to “give back,” and a portion of earnings from every loan that funds with our team will go to one of the 3 different charities that we support here at our Cornerstone Mortgage Company, Burnsville office. This ambitious goal will allow us to provide hope, strength and joy to Minnesotans and their families.
Federal Housing Administration is a federal agency that provides mortgage insurance for residential loans with lower down payments than conventional mortgage loans. When you purchase a home using a FHA loan, you pay an insurance premium that covers the lender (end loan servicer) in the case of your default. FHA doesn’t actually “lend” the money, but it does set underwriting and construction standards on the loans that it insures.
Chela is still struggling with her loan modification. Although we haven’t heard from her in over a month, Chela has checked in and has this information to share about the ongoing loan modification vs foreclosure saga. If you have missed back posts of Chela’s Story, please take a look so you can see what a struggle the loan modification has been. Part 1, Part 2, Part 3.
Looking for up to $4,500 in down payment assistance (DAP)? The Minnesota Housing Finance Agency (MHFA) may be able to help.
The Minnesota Home Ownership Center has recently published a Foreclosure Counseling map that will help struggling home owners according to their county of residence. For example, those who are in Dakota County can contact the Dakota County CDA at 651-675-4555 and Scott County residents will contact Carver County CDA at 952-448-7715. Here is the link for the full directory.
According to the Weekly Primary Mortgage Market Survey from Freddie Mac, the average rates over the last week for a 30 year fixed mortgage is 4.40%. This is just a tick higher than the previous week and the highest they have been since the end of July, beginning of August 2010. Although the rate differences are slim, prospective buyers need to be aware that as rates rise, they will affect your buying power.
Cornerstone Mortgage Company had the lowest refinance rate among reporting lenders in the second quarter 2010.
We are very happy to introduce you to Tim Swierczek! Tim is new to Cornerstone Mortgage, but certainly not new to the mortgage industry! Tim and his team will be in our newest Cornerstone Mortgage Company office, in Maplewood, Minnesota.
[ November 18, 2010; 6:30 pm to 8:00 pm. ] Join us for a very informative FREE 90 minute home-buying course where you will learn everything you need to know about buying your first home. We’ll show you the importance of getting Pre-Approved for a Loan, how to Search for Properties Online, and how to become an Expert Negotiator in the process plus leave with a copy of your credit report!
[ November 4, 2010; 4:00 pm to 6:00 pm. ] We are pleased to announce the Grand Opening of Cornerstone Mortgage Company, Savage Office!
Located just off Highway 13, north of County Road 42, this new Cornerstone Office is convenient to our Realtors working in Scott County area.
Please join us on November 4th from 4-6pm to meet the amazing staff.
Watch this video for information on the upcoming First Time Home Buyer Class
Subscribe Via Email
View Posts By Category
- Chela's Story (5)
- Conversations With Carrie (127)
- First-Time Home Buyers (79)
- Home Buyer Class Information (16)
- Home Loan Process (46)
- Local Information (34)
- Market Updates (27)
- Mortgage News (44)
- Mortgage Terminology (20)
- Trusted Resources (8)
- Tuesday Tidbits (3)
- Uncategorized (15)
- Upcoming Events (26)
