Currently viewing the tag: "Burnsville real estate"
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.
When it come to Burnsville real estate, the same trend has happened. There is a 6% decrease in new listings during the month of April compared to April of 2009. Year -to-date, there have been 512 new listings added to the market in Burnsville. That is slightly higher than the 499 through the end of April in 2009. The average sales price for Burnsville real estate YTD is $182,445. This is less than a ….
While lately the economy has presented some challenges, it has also helped us focus on what matters most: the value of owning a home. It’s reminded us that home is where we make memories, build our future and feel comfortable and secure.
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.
Cornerstone Mortgage is proud to offer a number of seminars on a monthly basis to assist and educate you in your homebuying process. From buying bank-owned homes, short sale solutions, first time homebuyer education to investment properties, Cornerstone Mortgage has a seminar that will make a difference for you! These seminars are all free to you, no obligation and packed with valuable information from experts in the field.
If you’re interested in making a career change to a company that is over-the-top committed to delivering world-class service and meeting the needs of Loan Originators to help them effectively grow their business, call me. We have bar-none, the best support in the country from our CEO to our Director of First Impressions and everywhere in-between. I’ll show you the difference it can mean to have the right team behind you to help you carry the weight of success.
So you are a first time home-buyer, and you have just closed on your first home, a great piece of Burnsville real estate. Now what? Homestead, utilites, FAQ title questions, first mortgage payment…. Many first time home-buyers have questions after closing. Every transaction is different, so don’t be afraid to call your loan officer or title company for guidance.
What happened last week to rates? Wow! It was a crazy volatile week with some major upward movement on Wednesday/Thursday. Mortgaged-backed securities simply fell apart. We’ve known to plan for the worst (3/31 marks the date the government ceases participation in buying MBS) and hope for the best; knew this was coming, and it did. Thank goodness things have backed off slightly from last week’s highs (but we can’t become complacent in the least)
First of all, not all lenders are created equal. The 203k loan program does have very specific requirements to make the process go smoothly. Some lenders have perfected this process, most of them have not. I am proud to say that we have Elizabeth Vaughan here at Cornerstone Mortgage. Elizabeth is the master of 203k loans!
Watch this video for information on the upcoming First Time Home Buyer Class
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