Minnesota Mortgage Blog - Mortgage and Real Estate News You Can Use

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Mortgage industry news and insights from a 15+ year industry expert. Mortgage and Real Estate News You Can Use
Minneapolis, MN: A new bill was signed into law last week by President Trump eliminating a long held requirement that VA jumbo mortgages loans needed a small down payment.  This was in stark contrast to the very popular current VA loans of under $484,350 in most of the nation, - which our U.S. mi...
No down payment, low down payment, and down payment assistance programs in MN, WI, and SDIt is the dream of everyone to own their own home. Many potential home buyers have the income and credit to qualify for a mortgage. However, many of them lack the one essential ingredient to make homeownershi...
How Real Estate Agents Risk the License everydayDon't risk your Real Estate License or a LawsuitMany Real Estate Agents put their license or potential lawsuit at risk on a daily basis without realizing it. Generally this is by stepping outside of their official duties, and stepping into areas the...
Minneapolis, MN: FHA has announced tightening of their guidelines that lenders must follow when approving loans. It estimates 4% to 5% of all FHA loans would be affected going forward versus current FHA guidelines. This works out to be between 40,000 to 50,000 loans this year.Should we be worried...
Minneapolis, MN:  Mortgage insurance? Everyone asks how long before mortgage insurance cancels is a pretty common question when buying a home.The answer can vary greatly bepending on loan program chosen, the down payment size, and market conditions. Understanding the basic's goes a long way in he...
Minneapolis, MN:  Are your tired of the snow yet?  Record amount of snow, including the most snow ever in February here in Minnesota, along with continued below average temperatures is expected to delay the local spring this year.As many people, both buyers and sellers come out of the woodwork to...
Minneapolis, MN: One of the biggest reasons people don’t buy a home is the lack of down payment money. We get it. Saving is hard. Tax refunds make the perfect down payment for many first time home buyers, and therefore make spring a popular time to buy your dream home. Big refunds or small refund...
A VA loan is perhaps the most amazing loan in the housing market today!Minneapolis, MN: Rather than issue loans, the VA instead pledges to repay about a quarter of very loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when...
Minneapolis, MN: I get it. You are buying a new home, or refinancing your existing home mortgage, and are looking for the best mortgage interest rate. But buyer beware, the Internet is full of places to avoid.  So here I'll give a little primer on the process, along with some common lender games,...
Credit report inquiries, What is the real story? Minneapolis, MN:  As a Mortgage Loan Officer, I’ve pulled and reviewed a lot of credit reports in my day.  I’ve also spent an incredible amount of time debunking the irrational fear so many people have about credit report inquiries.   This one sent...

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