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Minnesota Housing Finance AgencyZero down payment, 80/20's, and other zero down payment lows were some of the first casualties of the mortgage and housing market meltdown.
ZERO DOWN Payment First-Time Home Buyer Loans are BACK in Minnesota. We got it - You Need It - The NEW Fannie Mae Affordable Advantage Program

Basic Affordable Advantage requirements and info:

  • 100% financing, 30-yr fixed, NO mortgage insurance
  • Single family homes only
  • Must have at least a 680 credit score, and no more than a 45% debt-to-income ratio
  • Up to 3% seller paid closing costs
  • Buyer must put in at least $1,000 into the deal (this is usually just your earnest money)
  • Home Buyer Class Required (we'll help you sign up)
  • Must be first-time buyer (or not owned a home in the past 3-years)

Getting started is easy, and requires two simple steps:

  1. Sign-up for the required first time home buyer education class

  2. Fill out a full mortgage application. Apply online or call (651) 705-6261

Joe Metzler, MMS - (651) 552-3681

33 Wentworth Ave E #290, Saint Paul, MN 55118
Ph: (651) 552-3681   NMLS #274132
Cell: (651) 705-6261
www.JoeMetzler.com

         We Beat The Banks Everyday

Be sure to add me to your cell phone contact list for quick easy access.  I'm available 7-days a week!
 
This post has been included in Minnesota Real Estate News
Post is included in group: The FHA Mortgage Group
Post is included in group: Mortgages
Post is included in group: Minnesota Real Estate
Post is included in group: All About Mortgages/Mortgage Networking

1 Comments on ZERO DOWN Payment Home Loans are BACK in Minnesota

SEP
08
2010

Wow Joe, that is great! As a Realtor, I have many MN first time home buyers who have the capacity to buy a home, especially with today's lower home loan prices, but they have been locked out of the market because they lack a down payment.

It's nice to see this Affordable Advantage program come to MN. It is also encouraging to see that the program requires a respecible credit score and home buyer education. Two items that should dramatically help people buy a new home but yet keep us away from the crazy lending - give everyone a home practices of a few years back.

Affordable Advantage - I'm sending all those clients to you over at Mortgages Unlimted.

- Cindy
Cindy the MN Realtor
10:53pm • #2

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Joseph Metzler MLO MMS NMLS # 274132

, MN

More about me…

Mortgages Unlimited, Inc

Address: 33 Wentworth Ave E #290, Saint Paul, MN, 55118

Office Phone: (651) 552-3681

Email Me

Mortgage industry news and insights from a 15+ year industry expert. Mortgage are Real Estate News You Can Use. Joe is a Certified Minnesota Mortgage Specialist, who provides home mortgage loans not only in the Minneapolis, St Paul area, but all of Minnesota and Wisconsin.


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