Today is the day that MN first time home buyers can rejoice! The changes to MN Housing’s Start Up and Step Up programs go into effect today, January 29th. , MN Housing has made some fabulous changes to how household income is calculated for MN first time home buyers with their Start Up program and non-MN first time home buyers with their Step Up program. They are serious about helping MN first time home buyers realize the dream of homeownership! And so are we!
For years, down payment assistance was only available to MN first time home buyers. Folks buying their second or third home didn’t have the opportunity to get down payment and closing cost assistance because they didn’t meet the MN first time home buyer definition. MN Housing saw this need and came to the rescue about a year ago when they began offering down payment and closing cost assistance to NON-MN first time home buyers via their Step-Up program.
Minnesota Housing’s upcoming changes will open the door of opportunity for many future MN first time home buyers. Effective January 29th, more MN first time home buyers will be eligible for down payment assistance with MN Housing because the household income definition will be changing FOR THE BETTER!
As we approach the end of 2013 and tax return filing is just around the corner, we wanted to share with you some important updates effective for 2013 provided by Greg Nelson, CPA with Olsen Thielen, CPAs. Read the Top 10 list below to find out which of these tax benefits are set to expire the end of 2013.
There is a serious shortage of inventory in the metro-area housing market. Buyers and real estate agents alike are frustrated. The newly-introduced Minnesota Housing Finance Agency (MHFA) Step Up program has the ability to help home owners who would like to improve their situation but didn’t think they could and bring more homes to the market in price ranges in high demand.
Minnesota Housing releases their all new program guidelines for their first time home buyer programs today. A lot has changed, and these first time home buyer programs will allow for more Minnesota home buyers to qualify for down payment assistance. If you’ve been told that you’re income is too high to qualify for a first time home buyer program in Minnesota, you may want to take another look at these new programs. The income limits have increased!
Minnesota Housing Finance Agency has released their new loan program guidelines!
First time home buyers and home buyers looking to move into a different home will benefit from these new Minnesota Housing Programs to be released in December!
The combination of the new HARP 2 Underwater Refinance Program for those with Fannie Mae or Freddie Mac owned mortgages and FHA’s updated mortgage insurance premiums for their refinance program could help a large number of faithful Minnesota homeowners who have been patiently – or not so patiently – waiting for options to refinance their underwater mortgages and take advantage of today’s record low interest rates.
FHA is changing the way they calculate mortgage insurance – again. I recently wrote a post about home buyers who are fence sitting and this is simply one more reason why moving forward this month may make sense for home buyers who are using FHA financing.
No, we are not selling anything, but inviting you to take advantage of programs that could be the key to you owning your very own home. This clip that was KARE11 mentions that there are over 50 different down payment assistance programs and closing cost assistance programs available to first time home buyers.
Watch this video for information on the upcoming First Time Home Buyer Class
MN First Time Home Buyer Class
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