The Minnesota Home Ownership Center takes on the magazines article and makes it’s case for why home ownership IS a good thing(Although it may not be for everyone).

With all the recent news about H.R. 5981, I thought I’d share that we now have through the entire month of September before the change will take place with FHA mortgage insurance premium fees. It will effect new case numbers on or after October 4, 2010.

PENCIL PUSHING: Do the math for yourself: 6% is a pretty normal rate in a normal economy. Just how good are rates now? On a $200,000 loan, the difference in 4.25% and 6% is $213 per month! The 6% rate produces a payment of $1,193 vs. a $980 payment at 4.25%, a difference of 17.85%!

Ever wondered exactly what is behind an underwriting decision? Or why some borrowers sail through underwriting, while others struggle? Knowing the 5 C’s of credit will help you understand just what a lender is looking for.

I told this woman (we’ll call her Elna) that she could possibly qualify for a low fixed mortgage interest rate of 4.75%, and receive up to $15,000.00 in down payment and closing cost assistance using Dakota County Bond

RE-PULL A CREDIT REPORT AT THE CLOSING TABLE? Starting with new applications as of yesterday, 6/1/10, Fannie/Freddie are requiring that lenders pull a final credit report just prior to closing. If a buyer’s credit scores have lowered, new debt has occurred, etc, then this could stop a closing in its track.

Yes, we are a mortgage company in Burnsville, and no, Life Planning may not be a typical suggestion from a mortgage lender. I think that is the beauty of it! We want to offer you the tools to make your life more fulfilling as well as help you get financing for that new home in Dakota County. No strings, no commitments, no cost…. We think it is that important!

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.

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.

“Teamwork is the fuel that allows common people to attain uncommon results.” – Andrew Carnegie. Carrie wants to extend a huge THANK YOU to her entire team and hopes that you will have the opportunity to meet them.