Currently viewing the tag: "first time homebuyer program"
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
I’m going to say it again, because its important to hear. THERE IS STILL MONEY AVAILABLE TO HELP YOU GET INTO YOUR FIRST HOME! I can’t stress this enough, there are programs available to help you get down payment and closing cost assistance. Actually, lots of programs! Lets take a look at the information for first time homebuyers looking to purchase real estate in Dakota County:
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.
Interest rates have ticked up a little bit more over the last week, Freddie Mac’s mortgage market survey shows rates just over 5.25% on a 30 year fixed mortgage, those are the highest rates since august 2009. What’s awesome is that Minnesota Housing is standing by their word and they are still offering interest rates for first time home-buyers at 4.625 percent on first time home-buyer programs. Also, City Living for St Paul and Minneapolis as well as Dakota County Bond programs still show interest rates below 5% on 30 year fixed rate mortgages. So, it’s still a great time to buy.”
The First Time Homebuyer Program from CDA provides homebuyers with financing for a first mortgage through participating lenders, such as Cornerstone Mortgage Company in Burnsville, at a low, fixed interest rate. Homebuyers accessing the Dakota County CDA First Time Homebuyer Program can also apply for downpayment and closing cost assistance loans of up to $10,000, depending on household income.
[ March 18, 2010; 6:30 pm to 8:00 pm. ] Take the ‘unknown’ out of homebuying. Talk to Realtors and Mortgage Professionals about your questions. If you are buying Burnsville real estate, or anywhere in Dakota or Scott County, stop in for a no-pressure presentation that is sure to answer your homebuying questions. Take the myth and intimidation out of being a first time homebuyer, and better prepare yourself for the exciting purchase of a home!
Watch this video for information on the upcoming First Time Home Buyer Class
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