| |
minnesota mortgage: Minnesota mortgage -the interest deduction - 02/07/12 09:46 PM
Choose Your Deduction
One third of all U.S. households, 75% of households with more than $75,000 income and most homeowners itemize their deduction on their federal income tax returns. It makes sense because the interest paid on their mortgage and their property taxes probably exceeds the allowable standard deduction.
However, with interest rates as low as they have been in the last two years and the price of homes having come down considerably, it is possible that the standard deduction may be the better choice.
Each year, the taxpayer can compare the total of … (1 comments)
|
minnesota mortgage: Edina Mortgage rates - 02/07/12 09:40 PM
Risk Determines Rate
Regardless of what a lender quotes on mortgage rates, the actual rate paid by a borrower is based on a number of variables. Lenders determine whether to loan money and at what rate based on the risk involved with the transaction.
Factors that increase the risk that the loan will be repaid will proportionately increase the interest rate charged to the borrower. If the risk becomes too high, the loan will not be approved.
Loan amounts - conventional loans for more than the conforming limits set by Fannie Mae are considered jumbo loans … (1 comments)
|
minnesota mortgage: Minneapolis Mortgage | St Paul Mortgage| Minnesota Mortgage - 11/25/10 11:47 PM
As a Minnesota mortgage broker, we broker loans for properties all throughout MN. We have just created our latest show about the current real estate and mortgage market that we are in today. We are located in Edina and work throughout the Twin Cities and Greater MN. If you have any questions about rates or programs-just give us a call.
… (0 comments)
|
minnesota mortgage: Minnesota mortgage Rates - 12/01/09 06:51 PM
Rates Have Hit All-Time Low Levels Again!
In case you haven't caught the news, home loan rates have done it again, dropping to their lowest level...ever. Not only has the 30 Year Fixed rate returned to its lowest all time level, rates across the board are at their lowest levels.Yes, that means, go ahead and choose your flavor - 30 Fixed, 15 Fixed, 5/1 ARM or 1/1 ARM - all loan types hit their lowest levels of the year! For the weekly Freddie Mac survey of all lenders, this is the first time that all have been at their lowest level.You … (0 comments)
|
minnesota mortgage: Inflation IS coming-Refinance or Purchase NOW - 09/29/09 11:10 PM
Get your debt in order!!
There was an article out today that explains why the government will SOON start to raise interest rate because they want to control inflation. Basically, I see two reasons why we may not be able to stop inflation and higher rates once things start to move. Here are the catalysts: HUGE trillion dollar debt coupled with an international decline in the desire to purchase our debt by China and Japan. In order to induce others to buy our debt, rates must be higher. If we have an incident involving the middle east, expect rates to increase dramatically, and … (2 comments)
|
minnesota mortgage: Minnesota Purchase and Refinance Transactions are getting slowed down in the pipeline at lenders due to new Government Regulations - 09/24/09 12:08 PM
Government Regulation Clogs the Pipes
It's no secret that many facets of lending and real estate have changed as a result
of the credit crisis. In addition to tightened lending practices that resulted from
rising mortgage delinquencies, Washington has been heavily involved in altering the
way lenders do business today.
Two individual pieces of legislation impacting our business need to be taken into
account when determining closing dates for purchase transactions.
Home Valuation Code of Conduct - The Home Valuation Code of Conduct (HVCC) went into
effect May 1, 2009. Intended to shield appraisers from undue influence from loan
officers … (1 comments)
|
minnesota mortgage: Twin Cities second mortgages and Home Equity Lines of Credit-HELOC's - 03/12/09 05:18 PM
We are still doing loans that other can't-Financing available throughtout most of Minnesota
2nd Mortgages! Yes, they're still available!
Loan amounts up to $350k! Interest ONLY Heloc pricing starts at Prime + 1.00 = 4.25% -depends on credit, loan size and LTV Helocs have a 15 yr draw period with an additional 10 yrs to repay Helocs have a "fixed rate" option available and a "low cost" option Refinance, Cash Out, Home Improvement, Purchase (Only fixed products available on purchases, no heloc) Stand Alone 2nds available! Our 2nds can close behind a new 1st mortgage with this investor or another lender JUMBOS!
… (0 comments)
|
minnesota mortgage: Minnesota Homeowners With A Mortgage-review MHA- Making Home Affordable Program guidlines - 03/12/09 02:39 PM
This information was just provided to us in an email from MyCommunityMortgage. It is an excellent summary of the new law regarding home ownership and the distressed home situation we are facing as a nation.
Making Home Affordable Program (MHA)
On March 4 the Treasury issued Uniform Guidance for two distinct and different programs under President Obama's "Making Home Affordable" plan which is the Administration's strategy to get the housing market corrected: The two programs include:
1. Home Affordable Modification - Details can be found at: http://www.ustreas.gov/press/releases/reports/modification_program_guidelines.pdf.
2. Home Affordable Refinance - Details can be found at: https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0904.pdf
http://www.freddiemac.com/singlefamily/service/mha_modification.html
… (0 comments)
|
minnesota mortgage: FHA loans Explained By Edina Based Mortgage Broker - 03/03/09 08:24 PM
FHA 203B-3.5% DOWN PAYMENT96.5% LTV FOR PURCHASE97.75% LTV FOR RATE & REFINANCE95% LTV FOR CASH OUT REFINANCE
FHA financing is available for owner occupants only. Qualifying credit scores criteria and maximum loan amounts are always changing-call for current details. In general this loan is easier to obtain because of more flexible guidelines. This low 3.5% down payment loan is government insured. FHA has a special provision that may help you avoid a foreclosure-should you ever find yourself in that position. This is one of the best priced and easily obtained loans available. You can even refinance or purchase a home while … (0 comments)
|
minnesota mortgage: Minnesota Business Equipment Finance| Self Employed Business Owner Solutions For Qualifying For A Mortgage - 07/02/08 08:24 PM
Have you ever had a situation where you were trying to finance a home and you had some debt that showed up on your personal credit report. At the same time, the business that you own might be paying for the debt obligation-like a car or truck. Sometimes you can provide 12 months of canceled checks from the business and sometimes it doesn't matter if you've signed on the obligation personally. Each situation is viewed individually by the underwriter and loan program guidelines.
IF items like that are making your mortgage qualifying tough to get done, now you may be able to do something about it. … (0 comments)
|
minnesota mortgage: FHA Mortgages In MN Allow For Co-borrowers - 06/21/08 05:59 PM
Many conventional mortgage programs either don't allow or restrict the ability of a borrower and co-borrower to come together on a loan application and become one. FHA again comes to the rescue. In fact, FHA does allow for it. You must use the lower of all of the borrower's credit scores. Financially the loan is underwritten using all incomes and all debts. There is no provision requiring the co-borrower to occupy the home.
Also, the pricing on the loan is that of an owner occupant. There is no up charge in the mortgage rate nor any additional financial contribution of the … (0 comments)
|
minnesota mortgage: Fed Cuts Rate-Minnesota Mortgag Broker Predicts Rate Rise - 05/03/08 12:10 PM
Investor sentiment has turned. I started to see it in last weeks stock market and mortgage rates. The markets have been locked down in FEAR mode! IF consumer confidence increases, and money moves back to the stock market, rates will rise. I'm not predicting an immediate rise, but I could see rates creep up by .25-.5 over the next 6 months. After the election, regardless of who wins, you will see that inflation needs to be addressed. Inflation will bring higher rates too. Therefore, I am recommending that you consider getting your mortgage "house" in order sooner rather than later to … (0 comments)
|
minnesota mortgage: Minnesota Mortgage Niches-Not Necessarily Found With Other MN Mortgage Lenders Or Mortgage Brokers - 04/06/08 06:33 PM
Edina, MN
Venture Development-Minnesota's Mortgage Broker
I decided to write this blog post today to highlight some of the financing that CAN be done in this tight lending environment. WE CAN DO DEALS OTHERS SIMPLY CAN'T. Below are some highlights of programs provided by ONE of my investors:
CASH OUT to 95% with No Add to Rate! INTEREST ONLY to 95% with No Add to Rate! (3/1 & 5/1 ARMs) LOAN AMOUNTS up to $900k 1 Day OFF MLS to 95% with No Add to Rate! Cash Out OK! 95% Interest Only HELOCs 95% RURAL & ACREAGE accepted 80% Interest Only 2ND HOMES … (1 comments)
|
minnesota mortgage: Foreclosure Process and Foreclosure Prevention Resources in Minnesota - 04/05/08 02:50 PM
Patti Mazzara-Minnesota mortgage provider and mortgage broker-Venture Development-shares some idea and resources for those facing foreclosure in Minnesota
We frequently get calls from people in foreclosure asking us what help we can provide to someone in foreclosure. Unfortunately, we can offer a lot of help. Unless you have substantial equity in the home-defined as over 35%, and a good reason why the foreclosure occurred in the first place, plus the abililty to show repayment is possible, you will be out of luck. Even if we can help, it may be a form of HARD MONEY-which we discussed in a previous post.
FHA … (0 comments)
|
minnesota mortgage: FHA Loans & Loss Mitigation Requirement By Mortgage Servicers-Overview By MN Mortgage Broker - 04/01/08 11:08 PM
There are many reasons for wanting to take out an FHA loan. One reason you may not have considered is the built in loss mitigation that servicers of FHA loans are required to explore with a borrowers that calls and asks about it. We all know probably too well that "life happens". This means events and circumstances that are beyond our control sometimes may affect our ability to make a mortgage payment. I'm not talking about fiscal irresponsibility or mismanagement. I'm referencing loss of a job, disability, or other major event that is beyond one's control. Unlike conventional loans which aren't … (0 comments)
|
minnesota mortgage: Hard Money For Minnesota Mortgages From Minnesota Mortgage Broker - 03/27/08 12:17 PM
Venture Development-Minnesota Mortgage Broker
Hard money is available in Minnesota. It is possible to obtain this type of loan for residential and commercial properties. Here are some of the criteria that one of our investors is advertising:
Bear in mind-this is a general synopsis of what MIGHT be available. "Hard Money" is not subject to all the regular rules and federal regulations governing mortgages. It is VERY EXPENSIVE and full of FEES. Don't be shocked by double digit interest rates and outrageous costs-expect this to be the case. There is always an upfront fee that will cover the appraisals and review. You will also be … (0 comments)
|
minnesota mortgage: Obtain Your Credit Report Free-Minnesota Mortgage Broker Tells You How - 03/26/08 09:54 AM
Edina MN, Venture Development-Minnesota's mortgage broker
An essential part of the mortgage process involves reviewing your credit. In fact, it is often the first thing a mortgage broker will do. Once we know your credit scores, we can start to match it up with various loan products and programs. If you are thinking about buying a house-think about your credit. You may want to look at your scores and monitor them in advance of starting the home buying process. This will give you plenty of time to dispute issues that are incorrect. Would you like to get a copy of your report … (0 comments)
|
minnesota mortgage: Minnesota Mortgages & The Economic Stimulus Package-MN Mortgage broker - 03/10/08 08:46 PM
You have been reading about all of the economic stimulus package benefits but probably don't know how it affects you if you live in Minnesota. A common question I receive is:
What impact does the stimulus package have on borrowers?
Let's start by looking at the magnitude of the plan. The new Economic Stimulus Act of 2008 is a $168 billion plan intended to jumpstart the sliding U.S. economy. The new bill is designed to help certain ‘high-cost regions' of the struggling housing market by:
1) Temporarily increasing the ‘conforming loan limit' from $417,000 to as high as $729,750 in specified areas;
AND
2) Temporarily … (0 comments)
|
minnesota mortgage: Refinance One Day Off MLS-Available On Minnesota Mortgages - 03/01/08 09:24 AM
Edina Minnesota mortgage broker Venture Development encounters this problem and offers a solution.
Many home sellers today are reaching a point of frustration in their home selling efforts which leads them to take their home off of the market. Many instead are deciding to stay and remodel. Usually, a remodel will require a new first mortgage or a home equity loan or line of credit. Sometime, it will involve both. What many sellers are finding, is that traditional Fannie Mae and Freddie Mac mortgage loan products prohibit you from refinancing for 6-12 months after the home is off the market. What the … (0 comments)
|
minnesota mortgage: Second Mortgage Lines Of Credit In Jeopardy-Will Minnesota Mortgages Be Affected? - 02/28/08 01:25 AM
Edina, MN Venture Development, Minnesota Mortgage Broker comments on the Breitbart story about those individuals who just received letters freezing their lines of credit. WOW! How many banks and lenders will pull their lines of credit on individuals in Minnesota? The reason for this is that lender's collateral-the homes-have dropped in value. In some cases, the combined loan to value now exceeds the value of the home itself-in excess of 100% loan to value.
Watch the video for the complete story: http://www.breitbart.tv/?p=54094
This is absolutely scary. To learn more about mortgages and the mortgage process or to get an interest rate quote, http://www.ventureloanapp.com
To … (0 comments)
|
|
|
|
|
|
Patti Mazzara NMLS #333279
Edina,
MN
More about me…
Venture Development Inc NMLS #373115
Address: 7300 France Ave S #410, Edina, MN, 55435
Office Phone: (952) 285-4319
Cell Phone: (612) 237-6277
Email Me
Learn about the Twin Cities real estate, minnesota real estate, minnesota home financing, minnesota mortgages, FHA, VA, Reverse Mortgages, Debt Consolidation, refinancing, first time buyer programs, interest only loans, Edina, Minneapolis and St Paul. Visit our mortgage site at http://www.ventureloanapp.com or http://www.edinamortgage.com
Patti Mazzara NMLS #333279
Venture Development NMLS #373115
 Listings
Links
- Minnesota Mortgage Broker, minnesota mortgage rates, fha, va, conventional, arm
- Minnesota Relocation, relocating to twin cities
- Minnesota Real Estate, Twin Cities real estate
- Financial Planning, investments in Minnesota
- John Mazzara
- twin cities relocation, minnesota relocation, relocation
- domain names, mn, minnesota
- Edina Mortgage Broker
Archives
|
;)
;)
;)
