Currently viewing the tag: "closing cost assistance"
Many home buyers, particularly first time home buyers, don’t have enough money saved to cover their down payment and all of their closing costs and pre-paid items. What are these amounts, what do they cover, and will the seller pay?
If you’re a first time homebuyer, this is a must read! There are programs available with down payment assistance, closing cost assistance and even money to fix-up the home you’re looking to buy if it’s not quite “move-in ready”.
There are two major gaps for first time homebuyers to purchasing their first home today – credit and cash. With programs offered through Minnesota Housing Finance Agency that cover the whole state, Counties like Dakota or Anoka County, and Cities like Minneapolis, Saint Paul and Woodbury; you could be in a situation where you qualify to buy your first home for $1,000 out-of-pocket.
[ July 21, 2011; 6:30 pm to 8:00 pm. ] Start here! No-pressure, No-obligation First Time Homebuyer Seminar, Thursday, July 21st, 2011 from 6:30-8PM at 436 Gateway Boulevard in Burnsville. We walk you through the home buying process in a way that gives you a thorough overview and informs you about the availability of first time homebuyer assistance programs and various important pieces of the home buying process.
Current interest rate: 4.125%
Program Eligibility
• Must be first time homeowners OR has not owned a primary residence in the last three years.
• Existing single family homes, townhomes, condominiums or duplexes in Dakota County are eligible.
• New construction is eligible in Apple Valley, Burnsville, Eagan, Empire Township, Farmington, Hastings, Inver Grove Heights, Lakeville, Mendota Heights, Rosemount, South St. Paul, Sunfish Lake and West St. Paul.
• Homebuyers must occupy the home as their primary residence after purchase to be eligible.
• 620 minimum credit score.
[ May 3, 2011; 6:30 pm to 8:00 pm. June 7, 2011; 6:30 pm to 8:00 pm. July 5, 2011; 6:30 pm to 8:00 pm. ] The FHA 203k loan program allows home buyers to repair aspects of the home after closing, holding the funds designated for the repair at closing
From May to 2009 to May 2010, there was a 15% increase in closed sales. From June 2009 to June 2010 the number flip flopped to a 12% decrease in closed sales, sitting at 71 closings last month. YTD that leaves the overall closed sales figure up 7% with a total of 328 closed sales in Burnsville real estate.
[ July 15, 2010; 6:30 pm to 8:00 pm. ] MN Home Loan Partners is happy to a provide free evening class to anyone who is thinking about buying their first home. The class is jam-packed with useful information on the steps to take when looking for a home. This month’s class is Thursday night, July 15th from 6:30 to 8:00pm.
If you’re thinking about buying your first home, these five steps can help ensure you get the right house and the affordable financing that helps make home ownership a long-term success:
The Dakota County CDA has announced a rate change for the first mortgage. The new rate is 4.75% for all loans reserved beginning July 2, 2010 and continuing until further notice.
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
Watch this video for information on the upcoming First Time Home Buyer Class
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