Here is a brief overview of the program:

100% financing with competitive rates available to qualified borrowers
NO MORTGAGE INSURANCE REQUIRED!! (Yes, I am shouting this! This can make a HUGE difference in your monthly payments!!!)
Up to 3% of the purchase price allowed in seller-paid closing costs for the buyer.

Minnesota Housing lowered all first-time home buyer program interest rates, with the lowest at 3.75% for MMP loans

The message below about refinancing homes that are “upside down” or “underwater” and a new program that MAY end up helping a few of the responsible homeowners who have been limited in their ability to refinance due to declining market value of their homes.

There are a number of steps that should be taken BEFORE you look at homes. Taking the these steps will help make your home buying process go smoothly.

[ October 2, 2010; 12:00 pm to 4:00 pm. ] MN Home Loan Partners of Cornerstone Mortgage Company cordially invites you to the Fall Festival Client Appreciation. This year we will be hosting the event at our office, 436 Gateway Boulevard in Burnsville, MN. The festivities will take place between noon and 4pm on Saturday, October 2, 2010.

FHA intends on lowering upfront mortgage insurance premiums, but raising the monthly mortgage insurance premium. This will make an impact for those who are looking to purchase a home but are down payment sensitive.

[ August 3, 2010; 6:30 pm to 8:00 pm. September 7, 2010; 6:30 pm to 8:00 pm. October 5, 2010; 6:30 pm to 8:00 pm. ] The FHA 203k loan program allows home buyers to repair aspects of the home after closing, holding the funds designated for the repair at closing

The Scott County Fair is in full swing! Don’t miss the activities between now and Sunday! There are some great things going on! Don’t forget that tonight from 6 to 10pm and Sunday from 1 to 7pm there is the unlimited ride wristband for only $16!

In today’s South Metro addition of Star Tribune Online, they discuss that both Scott County and Dakota County may need to raise property taxes.

From May to 2009 to May 2010, there was a 15% increase in closed sales. From June 2009 to June 2010 the number flip flopped to a 12% decrease in closed sales, sitting at 71 closings last month. YTD that leaves the overall closed sales figure up 7% with a total of 328 closed sales in Burnsville real estate.