minneapolis: Thinking of refinancing? Here is what you need to consider - 02/13/20 09:55 AM
Minneapolis / St Paul, MN:  The economy is doing great, and mortgage interest rates are at, or hovering just slightly above all time lows, which has many people thinking of refinancing.
Most, but not everyone has a great interest rate, but do you know how your current loan compares to today's market rates?  We have a great market check up tool on our web site where you can plug in your current loan information, and instantly see how you compare. It's free, and no personal information is needed.  
You can also check current national average mortgage interest rates on our web site, again … (0 comments)

minneapolis: Get a real mortgage rate checkup - 02/06/20 08:22 AM
Get a Real Mortgage Rate Checkup!
Minneapolis, MN: Homeowners everywhere are constantly wondering how their existing mortgage interest rate compares to today's market rate, or what a new payment on a new home might look like compared to their existing mortgage payment.
So the typical go to method these days is to run to the internet to see rates. Unfortunately, many of the rates you see at either based on a "perfect" situation that may not apply to you, come loaded with discount points you don't want to pay, are offering reduced closing costs that increase your interest rate, or very sadly, they … (0 comments)

minneapolis: Do NOT Do List When Buying A Home - 01/15/20 09:43 AM
Minneapolis, MN: If you are in the process of, or about to be buying a home, there are many DO NOT DO items that can unintentionally turn your mortgage loan pre-approval unto a loan denial. Some may make sense, like don't quit your job during the process, but the number of people who actually do is surprising, so understanding some of the major DO NOT DO items is important.
If you want to change job, but a new car, buy furniture for the new home, just be patient; there will always be time after closing.
Do NOT have new credit … (0 comments)

minneapolis: The Pre-Approval Advantage - 11/26/19 01:08 PM
Why should I be pre-approved for a mortgage loan?
Minneapolis, MN: In recent years, mortgage guidelines were tightened. Documentation requirements have been expanded and followed more closely. A pre-approval gets you through the initial process and uncovers any potential pitfalls long before you become obligated by a contract to purchase.
What Advantages will I have once pre-approved?
You'' be certain about the price range that's best for you. You'll know how much cash you'll need to close, and you'll know your estimated monthly payment. Understanding your limits will help you negotiate with confidence. Plus, since sellers like a sure thing, you'll have an advantage … (0 comments)

minneapolis: Veterans Day 2019 - 11/07/19 02:38 PM
If you are active or retired U.S. Military, Thank You for your service!
Veterans Day 2019 will be observed Monday November 11th. This official holiday is observed to give honor to those persons who served in the United States Armed Forces. Memorial Day on the other hand is celebrated in the spring to honor those who died serving this great country.
Many companies provide discounts and other benefits, including free food or admissions with proof of military service as a small way to show our appreciation.
Also remember that you have some very special VA home loan benefits available to you that make VA loans … (0 comments)

minneapolis: Refinancing makes sense for over 7 million homeowners - 10/10/19 12:03 PM
Minneapolis, MN: With average home prices continuing to rise ABOVE the 2007 pre-crash average home value, and with 30-year fixed interest rates ending the week of October 10, 2019 at just 3.57% with 0.6% in points according to the weekly Freddie Mac mortgage rate survey, the combination has says refinancing makes sense for over 7 million homeowners. So simply put, with home prices up and mortgage rates down, millions of people can benefit from a refinance of their current mortgage.
Check Current Nationwide Mortgage Rate Averages
Refinancing is especially smart if a homeowner bought their home roughly one year ago, in the fall … (0 comments)

minneapolis: Down payment requirements - 09/25/19 01:37 PM
Minneapolis, MN: Are you wondering how much you may need to save for your new home?
It may not be as much as you think!
O Down PaymentThe VA Loan for our military personal and the USDA rural housing loan both offer a zero down payment loan program for individuals and/or properties that meet their criteria. Sometimes this can be done with little to no cash out of pocket.
3% Down PaymentThere are conforming conventional first time home buyer loan programs, like HomeReady from Fannie Mae and Home Possible from Freddie Mac only require a small 3% down payment. You may even be able to fund your down payment with gifts, grants, … (1 comments)

minneapolis: FHA tightening rules - Big deal or not? - 03/26/19 10:46 AM
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? 
Not really. While the guideline change headlines posted around social media and on the news sounds all doom and gloom, the reality is the change targets just a small group of potential home buyers with both low credit scores and very high debt-to-income ratios.
Post Crash Changes
Immediately after the housing market crash, all lending … (2 comments)

minneapolis: How long before mortgage insurance cancels? - 03/07/19 08:50 AM
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 helping make a loan and down payment decision.
For standard conventional mortgage loans with monthly mortgage insurance:
  If you do notthing special but make your payments:
About 110 monthy with 5% down About 89 months with 10% down About 56 months with 15% down You can ask the lender to remove monthly mortgage insurance earlier if  with … (0 comments)

minneapolis: All this snow will make the market hot - 03/06/19 03:08 PM
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 purchase or sell a home in the spring, a delayed spring will probably mean a more compressed shortened 'spring' buying season, and therefore a more competitive spring market.
Understanding the markets, and being prepared for what this means can translate nicely into a more stressfree and happy transaction.
Be prepared to look at … (2 comments)

minneapolis: How to shop smarter for your mortgage loan - 12/06/18 10:20 AM
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, and tips on how to shop smarter for your mortgage loan..
The two most important shopping tool to understand are how mortgages work, from mortgage interest rates to closing costs, and that it isn't about the lowest mortgage interest rates, it is about the best overall deal for you.
The best … (1 comments)

minneapolis: Credit Report Inquiries, what is the real story? - 11/29/18 12:26 PM
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 sentence is all most people need to know.
STOP worrying about it.
For the vast majority of the people, the vast majority of the time, you should never ever give a second thought to an inquiry on your credit report. It just isn’t what people think.

So What Is A … (1 comments)

minneapolis: Do Mortgage Pre-Approval Letters Really Mean Anything? - 10/16/18 09:30 AM
Do Mortgage Pre-Approval Letters Really Mean Anything?Minneapolis, MN: When buying a home, everyone will tell you that you need a Pre-Approval Letter, and pretty much no sellers will look at your offer without a Pre-Approval Letter being attached to your offer. But do Pre-Approval letters really mean anything?
The correct answer is yes, no and maybe.
The intent of a pre-approval letter is incredibly valid in the home buying process. It is designed to inform a potential home buyer that their odd's of final loan approval is strong. For sellers and Real Estate Agents, it tells them the buyer has met with a Loan … (1 comments)

minneapolis: Average mortgage rates dropped!! ? But did they really? - 06/29/18 12:52 PM
Minneapolis, MN:  Headlines are screaming Average mortgage rates dropped.  Wow, super cool. Especially if you are actively in the home purchase or refinance market.  Unfortunately, just like so many other things, the devil is in the details.
From June 29, 2018
We live in a Twitter 140 character world, and quick 30-second sound bites. The above real item was in my local newspaper stating "average mortgage rates drops" catches your attention. But did you really read it? Probably not, and this is the problem.
The mortgage giant Freddie Mac puts out a survey once a week. This survey is … (0 comments)

minneapolis: Use a gift for down payment - 06/20/18 09:23 AM
Minneapolis, MN:  Looking to purchase a home in the near future?  The lack of down payment is a big hurdle for many people. But did you know you can use a gift for down payment? Most loan programs allow for a gift for either some, or all of your homes down payment, including FHA loans and conventional loans.WHO CAN GIVE A GIFT?The gift typically comes from Mom and Dad, but officially the rules say the gift must be from a relative. This is defined as any individual who is related by blood or marriage, adoption, or legal sponsorship. Even a fiancee or domestic … (0 comments)

minneapolis: Home shopping? Get Pre-Approved First - 06/13/18 12:08 PM
Home shopping? Get Pre-Approved First
Minneapolis, MN: People often make the mistake of starting a home search without knowing what they actually qualify for. Falling in love with a $400,000 home and finding out you qualify for $200,000 can be heartbreaking. Thinking a loan approval will be easy, only to find out you have issues, or don’t qualify for a program you think you do, is another concern.
Virtually no Realtor will show homes to clients who have not been pre-approved, and virtually no seller will accept any offer without a pre-approval letter for this very reason. Being pre-approved gives both … (1 comments)

minneapolis: Tips for MN First Time Home Buyers - 02/23/18 11:57 AM
Minnesota First-Time Home Buyer Tips
Minneapolis, MN: Being a first time home buyer, and buying your first home is an exciting time. There is no reason to be worried, and here are a few tips to help guide the way.
Find a lender - Get Pre Approved for a Mortgage Loan.
Unless you are paying cash, you are going to need a loan. Finding and choosing the best loan and lender to handle the loan for you should not be taken lightly. Randomly taking to whoever answers the phone at  1-800 Big Bank, or thinking you can get a mortgage in 10 minutes … (0 comments)

minneapolis: The truth about inquiries on your credit report - 01/15/18 11:55 AM
The truth about inquiries on your credit report (it isn't what you think).
Minneapolis, MN: As a Licensed Mortgage Loan Officer, I pull and review thousands of credit reports every year. The confusion from the general public about what inquiries are, and how they effect your credit is overwhelming.
The quick thing to know? 
For 99% of people 99% of the time, you should NEVER ever worry or be concerned about a lender reviewing your credit, or generating an inquiry.
There, I said it.  Stop worrying!
Historically,  the presence of inquiries on a credit report has only a small impact on credit scores, if any impact … (2 comments)

minneapolis: Checklist - Shopping for a mortgage loan - 12/29/17 12:20 PM
Best CHECKLIST - Shopping for a mortgage loans
Minneapolis, MN: Face it, few of us can pay cash for a home, so you are going to need a home mortgage loan. A little bit of information can go a long way into determining who to use for your financing and why.
Mortgage Loan Types
Most people will end up with one of the standard tranditional loans; a Conforming conventional loan (Fannie Mae or Freddie Mac backed), and FHA loan, a VA loan for our military personal, or a USDA Rural Development loan.
These loans all have the exact same underlaying guidelines, no matter what bank, … (1 comments)

minneapolis: Why fall home buying may be better - 09/28/17 10:42 AM
Minneapolis, MN: People buy homes all year around, but especially in colder climates, home sales numbers falls in the fall and winter months, then picks up dramatically in the spring.
Fall and Winter are great times to buy a home.
While coming out of hiding inside from the winter, and feeling the itch to buy a home in the spring is common, it might be better to actually buy a home in the fall or winter.
Fall and Winter Buyer Advantages
There are more homes on the market in the spring, but there is also a lot more competition for those homes. Also, many buyers … (0 comments)

Joseph Metzler, Sr Loan Officer (Cambria Mortgage) Rainmaker large

Joseph Metzler

Sr Loan Officer

Saint Paul, MN

More about me…

Cambria Mortgage

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

Mobile: (651) 705-6261

Office: (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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