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first time buyers: Seminars for MN First Time Home Buyers - 03/12/11 10:41 AM
Are you considering making this the year be come a first time home buyer in Minnesota? You are not alone! Many people today are considering making use of creative loan programs designed to help Minnesota first time home buyers.
Register online for our first time buyers seminars at www.mnseminars.com
Minnesota First Time Buyer’s Seminar Topics In our seminars we will cover all of the topics that will concern a first time homebuyer.
How much do I need for a down payment and will I qualify for down payment assistance? While some programs still exist for no money down home loans, most … (0 comments)
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first time buyers: Minnesota First Time Home Buyers With No Credit - 03/10/11 08:44 AM
Every month I encounter buyers who are looking for Minnesota first time home buyer programs that can accommodate someone who has not established any credit. In this case, when I pull up the credit report there is literally no credit at all on the report. While almost all programs today require a borrower to have established at least some credit, the Minnesota Housing Finance Agency can help you with their MMP or CASA first time homebuyer program which has a no credit
How to Get a Loan With No Credit in Minnesota In order to use the program with no … (0 comments)
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first time buyers: MN First Time Buyers: Watch Out For NSF Fees - 03/09/11 10:45 PM
One of the most commonly overlooked items of credit for Minnesota first time buyers is the nasty overdraft fee resulting from an “NSF”…otherwise known as a bounced check. These items do not show up on your credit report, but they do show up on a bank statement.
A mortgage underwriter will ask for a good explanation for the reason behind the NSF fee. If it is an occasional problem, this might not impact them too much. But if it’s a habit this may signal a credit problem to an underwriter.
Several banks now show the amount of NSF fees right on … (1 comments)
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first time buyers: Minnesota First Time Buyers Seminar | April 12th, 2011 - 03/08/11 08:23 AM
Are you a Minnesota first time home buyer living near Woodbury? No matter where you are buying a home in Minnesota you’re welcome to attend our first time home buyer seminar. Learn everything you need to know to become a homeowner in an our 90 minute first time buyer seminar! In our seminars you will learn all about:
How to buy a foreclosure in Minnesota How to apply for down payment assistance funds (for first time buyers) The benefits of FHA, VA, and Conventional home financing for your first home purchase The benefits of Minnesota Housing Finance Agency How to ask … (1 comments)
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first time buyers: FHA MIP Increasing - 03/04/11 09:32 AM
For the third time in 12 months, the FHA is changing its mortgage insurance costs. Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.
The change will add $250 to an FHA-insured homeowner's annual loan costs per $100,000 borrowed, and applies to all borrower's equally. Current FHA borrowers are unaffected.
To understand the FHA is to understand why premiums are rising.
As an institution, the Federal Housing Administration plays a much larger role in the U.S. housing market today than it did just 5 years ago. According … (0 comments)
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first time buyers: Minnesota FHA Loans FAQ Part 1 - 03/01/11 11:54 PM
Over the past several years, FHA loans in Minnesota have become the most popular program for both home purchase and refinance loans. I’ve compiled an FAQ of typical questions regarding Minnesota FHA loans.
What is the minimum credit score for FHA loans? The minimum credit score for FHA loans in Minnesota is as low as 500, depending upon the investor, however rates and down payments with a credit score under 640 tend to be higher.
Can I get an FHA loan with no credit in Minnesota? There are 2 basic ways to get an FHA loan if you have no credit. … (0 comments)
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first time buyers: Hennepin County FPP Down Payment Assistance - 03/01/11 10:02 PM
FPP Funds in Hennepin County This source of down payment assistance funds is designed for home buyers within certain census tracts in Brooklyn Park, Brooklyn Center, Champlin, Crystal, New Hope, Maple Grove, Robbinsdale, Rogers/Hassen Township, and Richfield of Hennepin County.
Note that I said home buyers, not first time home buyers. This program is fairly rare in that you do not have to be a first time home buyer, but at the same time, you cannot currently own another property.
The program can provide up to $10,000 of incentive assistance, however the program can provide up to another $20,000 of affordability … (0 comments)
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