You may hear endless things about what TO do when you are getting ready to buy your first home, next home, vacation home or refinancing your current home, but it’s important to also know what NOT to do. I wanted to touch on a few items that seem like good ideas most of the time, but can actually be bad ideas when you are thinking about, or in the process of, getting a mortgage.
Last week I discussed all the amazing changes Minnesota Housing has done to keep their programs up to date and available to more and more MN First Time Home Buyers in need of down payment and closing cost assistance so far in 2014. Well, they’ve done it again! Minnesota Housing has introduced even more program options available to MN First Time Home Buyers as of May 23rd.
Minnesota Housing is continuously expanding their programs to make them available to more and more MN First Time Home Buyers who need low interest rates, down payment assistance and closing cost assistance. Minnesota Housing recently released the changes regarding their popular MN First Time Home Buyer Start Up Deferred Payment Loan Options.
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!
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