From the monthly archives: April 2010
While lately the economy has presented some challenges, it has also helped us focus on what matters most: the value of owning a home. It’s reminded us that home is where we make memories, build our future and feel comfortable and secure.
MN Housing Finance Agency Programs with lower than market 30 year fixed rates and up to $10,000 in closing cost and/or down payment assistance, plus special financing options for fixing up minor items that may need updating or repair with a unique 203K program designed with the first time homebuyer in mind.
We all know that getting prequalified for a mortgage before shopping for a home is an essential part of the process. But are you thinking about home expenses when you are figuring out what monthly mortgage amount you are comfortable with?
Linda was referred to our office by a past client. Linda had been preapproved with another mortgage company that never even mentioned programs that would clearly benefit her. Linda qualified for a first time home buyer loan through Minnesota Housing Finance Agency. She qualified for down payment assistance and closing cost assistance. Of course the other mortgage company never said anything to her. They didn’t offer those programs. The reality is that Linda has found a home, financed through Cornerstone Mortgage Company, received up to $15,000 in down payment and closing cost assistance, and is now a very happy homeowner.
Cornerstone Mortgage is proud to offer a number of seminars on a monthly basis to assist and educate you in your homebuying process. From buying bank-owned homes, short sale solutions, first time homebuyer education to investment properties, Cornerstone Mortgage has a seminar that will make a difference for you! These seminars are all free to you, no obligation and packed with valuable information from experts in the field.
If you’re interested in making a career change to a company that is over-the-top committed to delivering world-class service and meeting the needs of Loan Originators to help them effectively grow their business, call me. We have bar-none, the best support in the country from our CEO to our Director of First Impressions and everywhere in-between. I’ll show you the difference it can mean to have the right team behind you to help you carry the weight of success.
So you are a first time home-buyer, and you have just closed on your first home, a great piece of Burnsville real estate. Now what? Homestead, utilites, FAQ title questions, first mortgage payment…. Many first time home-buyers have questions after closing. Every transaction is different, so don’t be afraid to call your loan officer or title company for guidance.
Interest rates have ticked up a little bit more over the last week, Freddie Mac’s mortgage market survey shows rates just over 5.25% on a 30 year fixed mortgage, those are the highest rates since august 2009. What’s awesome is that Minnesota Housing is standing by their word and they are still offering interest rates for first time home-buyers at 4.625 percent on first time home-buyer programs. Also, City Living for St Paul and Minneapolis as well as Dakota County Bond programs still show interest rates below 5% on 30 year fixed rate mortgages. So, it’s still a great time to buy.”
RATES AND THE MARKET – Volatility and upward movement seem to be the name of the game right now. Yes, we’ve seen rates move up from those great levels we got accustomed to for so long. The Fed did what they set out to do – purchasing $1.25 trillion in mortgaged-backed securities, and succeeding in their plan to lower home loan rates and help stabilize the housing sector.
So, for argument’s sake — not that we need to argue — here are 10 reasons why it makes sense to live a positive oriented life, in no particular order. This list was never meant to be exhaustive — there are many, many more reasons, and I bet you can think of them off the top of your head. But here are 10 to think about.
Watch this video for information on the upcoming First Time Home Buyer Class
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