Special offer

Is It Harder to get a Home Loan? Minnesota Public Radio Would Like YOUR Opinion!

By
Real Estate Agent with Boardman Realty Minnesota License#90858

With all of the seemingly continuous changes in the mortgage industry recently, Minnesota Public Radio (MPR) is asking the question, "Are home loans harder to get?" As part of their Public Insight Network, MPR wants real answers from real people like you. It is an opportunity to share what yoMPR LOGOu know with others about this important financial topic.

I find this question extremely interesting as I am certain other professional REALTORS® will as well. I will be even more interested in tuning in to hear the stories and subsequent discussions that arise from the survey. I want to hear stories from first time buyers and those attempting to buy a second home or investment property. I would love to hear examples from loan officers as to what has changed when qualifying a new client. As home prices have dropped considerably, there are deals out there, but can interested buyers get the loans? This is a very timely topic and a great opportunity for the average person to share their personal view.

Have you or someone you know recently applied for a home loan or tried to refinance?

Whether you are a homeowner, buyer, loan officer or real estate agent, MPR wants your story. Here is a forum to share your experience good or bad.

CLICK HERE to Visit MPR Public Insight Network to complete the form and share your experience. Your opinion and story could be used in an upcoming show and/or you could be contacted to provide additional information and opinions on your experiences. It is a way for the individual to have to have a voice by sharing real world experiences in regard to home loans and mortgages. Rest assured that your opinion and information will be confidential. MPR will not quote you on the radio or web without your permission.

Not familiar with Minnesota Public Radio? Minnesota Public Radio® is a non profit public radio organization. Headquartered in the heart of downtown St. Paul, Minnesota Public Radio is a premier organization operating a regional network of 37 stations, from Minnesota to areas in Wisconsin, North Dakota, South Dakota, Michigan, Iowa and Idaho.

**********************************************************************************

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR ®, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota. Copyright 2008 Teri Eckholm http://www.terieckholm.com/ ******************************************************************************************************

LIKE MY BLOG? Subscribe and let me email you an update!

Subscribe to Teri's Notes & Anecdotes on Twin Cities Real Estate by Email

Posted by

Teri Eckholm. REALTOR with Boardman Realty, is a native Minnesotan who has lived and worked in the Minneapolis St Paul metro all of her life. She specializes in lakeshore homes, acreage properties and first time home buyers but assists anyone making a move in the north and east Twin Cities metro.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give Teri , a call or visit her website for a FREE Home Buyer Success Guide or FREE Home Value Report She specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2019 terieckholm.com

 

******************************************************************************************************

LIKE MY BLOG? Subscribe, Follow or Like...It's your choice!

 

 

Comments(7)

Sandra Cummings
William Raveis Real Estate - Guilford, CT
Real Estate Agent, Guilford Connecticut

What an interesting topic. So Teri are you going to call in and share some of your stories?

Aug 20, 2008 09:18 AM
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi Teri, I have recently had a flurry of activity with buyers and the credit scores have to be in the 570 range and not many blemishes of they could have a tough time getting loans in this neck of the woods.  Nice post Teri.

Aug 20, 2008 11:37 AM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Teri,

So is the survey/discussion pretty much for the State of MM?

I was just talking with an agent yesterday who was looking at a re-fi for herself with a 30% LTV (not a cash out) changing from a 10 yr to a 30 year loan. She couldn't believe the hoops they were going through to get this loan. Now keep in mind she had nearlyh 800 FICO scoring and it was reducing the monthly payment, with zero cash out.

It would be interesting if you would do a re-cap of the results.

Aug 20, 2008 02:46 PM
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro

Sandra--I don't really have anything to share...I send my clients to the LO's and all I have sent have been approved...Thankfully. I work with several great LO's so I don't have to hear unless the problems are extremely serious.

 

Aug 21, 2008 07:29 AM
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro

Gary--I know the rules have changed all over the US for loans. People with credit issues are going to have a difficult time buying.

Aug 21, 2008 07:31 AM
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro

Lynda--I don't think it would be MN specific because MPR broadcasts to other states as well. They have a lot of different topics and try to keep people informed. If I hear when they plan to broadcast the show with this question, I will try and listen....I make no promises though! :)

Aug 21, 2008 07:34 AM
Ray Saenz
Exit Realty Laredo - Laredo, TX
Homes for Sale in Laredo, TX - Texas, Realtor

Teri,
I do not know if it will be national, but here in Colorado on october 1st, there will not be seller concessions for down payment assistance, I believe that is national, I have not asked that, it will be good for lenders, but for some buyers will be bad, also the good thing is that they still will qualify by down payment assistance if they really have a low income. Great post !
Ray SAenz

Aug 24, 2008 08:13 PM