[ March 9, 2010; 6:30 pm to 8:00 pm. ] Join us in Burnsville for a free Investment Property 101.5 seminar. This seminar is meant to delve into the Cash Flow of a property and the different ways to analyze investment potential of a property, future cash flow, or current price. Brian Peterson, who has been analyzing investment properties for years, will go over many of the ratios and ways to look at your property financially. This seminar is meant for people wanting to take the next step, maybe looking to have several properties, or those who need a refresher on the tools and methods to analyze these properties.

[ April 6, 2010; 6:30 pm to 8:00 pm. ] Have you been looking for a home and can’t find just that right one? Sure, you could make repairs or remodel certain properties to make them exactly what you are looking for, but that takes upfront money. Enter – Section 203 (k) or 203k. The 203k loan enables you as a homebuyer to purchase a home, make qualified repairs to the home, or rehabilitate the home and roll the repairs and upgrade costs into the mortgage loan.

[ April 1, 2010; 6:30 pm to 8:00 pm. ] Many homeowners in today’s market find themselves upside-down in their homes. For some, a short sale is the solution, but there are many questions a homeowner should ask – and get the answers to – before entering a short sale agreement: How does a short sale differ from a foreclosure? How does a short sale impact my credit standing? Is there a waiting period before I can purchase a new home?

[ March 25, 2010; 6:30 pm to 8:00 pm. ] Are you a First Time Home Buyer? Not sure what to expect? Do you qualify for tax credits? How do you get pre-approved? Come learn about the buying process, from working with a loan officer to getting pre-approved and house-hunting with a Realtor, to getting your offer accepted and finally closing on your home!

On an FHA loan, mortgage insurance is required to be paid in the form of both upfront mortgage insurance premium and an annual mortgage insurance premium. Currently, these amount as set at 1.75% upfront and .55% annually for minimum down 30 year fixed rate mortgages. The change, that is scheduled to begin April 4, 2010, increases the upfront premium to 2.25% and leaves the annual premium at .55% for 30 year fixed rate mortgages.

Yes, I’m speaking metaphorically. But it is a great way to describe the real estate market in Minnesota. So humor me…..

Incentives, low mortgage rates, down payment assistance programs, 6 percent seller paid closing costs….

[ March 11, 2010; 6:30 pm to 8:00 pm. ]
Planning For Tomorrow- TODAY: Issues And Concerns For Your Aging Parents
Thursday, March 11th, 6:30-8PM

Join Rebecca Ross, member of The Minnesota Real Estate Team, and Carrie Guarrero of Cornerstone Mortgage, while they discuss the following issues: Elder Law (Power of Attny- Health Care Directives- Contract review), Financial Concerns (Wills and Estate Planning), In Home [...]

This is one of Carrie’s favorite quotes of all time. Living my this quote has helped her to become the premier home loan specialist in Dakota and Scott counties. “You can have anything you want in life, if you just help enough other people get what they want.” – Zig Ziglar

The value of a generic mortgage pre-approval = $25.00
The value of a Loan Officer who knows how to truly approve a loan = Priceless
This may sound cliché and I know it’s overused these days, but seriously, how is a first time buyer, or any home buyer in today’s market supposed to know that they can trust the person they’ve supplied their information to over the phone or internet who very rapidly, and simply states; “Congratulations, you’re pre-approved”. I’ve got news for you. You’re not.
If you have not supplied the following documentation, in addition to other documents that may be specific to your particular situation, you do not have a complete mortgage pre-approval and what you thought was a time to celebrate, could turn into a time of nail biting and rapidly graying hair from worry or sudden changes in your “pre-approval” status. So, as a homebuyer today, what should you expect to supply when you “apply” for a loan? Here’s a simple list that is nearly universally applicable:

For real?? Yes, your 720 credit score may not be all it’s cracked up to be. To get a home loan, your mortgage lender have to validate your credit.
So you’ve been told you have great credit and to focus on your number, whatever that might be and then I jump in and tell you that 720 you’ve worked so hard for just might not cut it anymore? What’s up with that?!? I know, it’s next to impossible to catch onto this moving target out there known as your credit score.