As a homebuyer in today’s real estate market, it may feel a bit like we’re asking for a whole lot more than you feel we should need to know. Let me ask you, if you were borrowing someone $150,000 for Burnsville real estate, what would you want to know about them?

The MN Home Loan Partners is a unique group of lenders, each witha specific area of expertise, who has teamed up to provide an unbeatable level of service to both their clients and referral partners in Dakota County and Scott County, as well as the Twin Cities Metro area of Minnesota.

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:

There are special loan options for first time home buyers when looking at foreclosed or short-sale properties that need a little, or a lot of work. Homes that are in need of repairs don’t need to be overlooked when you’re shopping for your first home – even if you’re not a ‘handyman’. There are mortgage loan options available that still allow you to get into your first home with a minimal down payment AND allow you to fix some things that may need repair.