Currently viewing the tag: "first time home buyers"
Seriously, we don’t want to see cash in a mortgage transaction. In fact, we can’t use cold hard cash, but we will need to verify your assets and there are some, like cash, that aren’t acceptable sources for down payment or closing costs. There are other sources, like gifts, down payment assistance or closing cost assistance for eligible first time home buyers that may surprise you!
Carrie and Steve deliver all of the key elements you need to know about buying your first home in Minnesota today in a relaxing and fun atmosphere. It’s an excellent time to consider buying your first home in Minnesota. Whether you’re ready to start the process of looking for your first home now or you’re simply considering whether buying your first home is something you should do, this first time home buyer class will help you prepare for the necessary next steps.
If you’re dreaming of a white Christmas, it doesn’t appear like you’re going to get your wish this year. I know it’s tremendously un-Minnesotan of me, but at this stage, I’m a-okay with that fact. Don’t hate me, but I’m a more than a little okay with cheating winter out of a month. I just hope it doesn’t catch us on the flip side and we have snow into May. However, if you’re dreaming of buying your first home in Minnesota this winter, that could be a reality and there are a number of First Time Home Buyer Programs that could help make your wish come true in this New Year we are about to embark upon.
These are a few of the commonly asked and answered questions during our first time home buyer class each month. If you have additional questions and you’re considering buying your first home in Minnesota, our First Time Home Buyer Class is a great place to start.
Treats for First Time Home Buyers in Minnesota! You need to know that there are real, secure, excellent resources for first time home buyers in the Minnesota today. There is no trick – other than talking to the right people about your home loan and buying real estate in today’s Minnesota home buying market.
I often write about the things to do when you’re preparing for a mortgage and was recently reminded of the importance of pointing out the “DO NOT” do items. These are items that could prevent you from closing on your home, or best case scenario cause you additional paperwork and detail that you need to provide in order to gain a loan approval. Whether you’re a first time home buyer or an experienced home owner, this list is important for you because the rules of the mortgage game have changed in recent years. Knowing the rules and how to work inside them can make a big difference for you.
Down payment assistance programs for first time home buyers and FHA 203K loans are common needs in today’s mortgage market as minimum down payment requirements and closing costs, along with necessary home repairs are often the largest barriers that first time home buyers have in purchasing a home today.
Whether you’re in the middle of the mortgage pre-approval process or if you haven’t yet started the home buying process; understanding the FHA 203K program in today’s real estate market can come in handy. A large number of the properties on the market today are bank owned or short sale properties where the seller may not entertain doing any repairs on the property. Being armed with all of your options for mortgage financing upfront will help you to be best prepared.
FHA 203K loans are becoming quite popular in today’s market for a number of reasons, but mainly because buyers and real estate agents are being made aware that you can finance home repairs or improvements into the purchase of a home. These loans are also available for current homeowners who want to do remodeling or repairs on their current homes and stay put vs. buy a new home. Oftentimes, the house you’re in just needs a little face-lift and an FHA 203K refinance may do the trick and get you what you want at a much more affordable cost than trying to finance it with consumer credit.
If you’re in the home buying market today, it’s likely that you’ve seen some non-traditional seller owned homes (bank owned, foreclosed or short sale properties) that are in need of repair. We could be talking minor or major repair. No matter what the needs are; we have a mortgage loan program to help you make the necessary changes to your new home.
Watch this video for information on the upcoming First Time Home Buyer Class
Subscribe Via Email
View Posts By Category
- Chela's Story (5)
- Conversations With Carrie (100)
- First-Time Home Buyers (61)
- Home Buyer Class Information (8)
- Home Loan Process (46)
- Local Information (33)
- Market Updates (25)
- Mortgage News (42)
- Mortgage Terminology (19)
- Trusted Resources (8)
- Tuesday Tidbits (3)
- Uncategorized (15)
- Upcoming Events (26)
