preapproved: 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)
preapproved: 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)
preapproved: Can you get pre-approved in 10 minutes on your cell phone?
- 02/21/18 10:24 AM
The danger of automated mortgage pre-approvals via your cell phone Can you get pre-approval in 10 minutes on your cell phone? Yes. Should you? Probably not. It's 2018 as I write this, advancements to our lives, along with instant gratification is everywhere. Why go to the store when you get better selection and two day shipping from Amazon. No need for old fashion video stores, everything is on Netflix, Amazon Prime video, or your HBO Go app. Twitter, Facebook, the internet, and of course Smartphones and iPads have replaced home computers for many people. So it is no surprise that many … (1 comments)
preapproved: What's the difference - Pre-Approved vs Pre-Qualified
- 03/11/16 04:53 AM
Everyone knows it is smart to get lender Pre-Approved before starting to look for a home, yet many people are actively looking at homes thinking they are Pre-Approved, when in reality, they are only Pre-Qualified. Pre-Approved or Pre-Qualified? So what is the difference?
As a Loan Officer for over 20-years, I can tell you story after story of people who thought they were Pre-Approved, signed a purchase agreement, gave notice on their apartment, only to be told a week before closing that they were denied. The vast majority of these people, calling me to see if I can magically help them had … (4 comments)
preapproved: First Time Home Buyer Tip - Get pre-approved first!
- 03/21/13 12:03 AM
Minneapolis, MN: As we start to enter the spring home buying season here in Minnesota, I have one big tip for first time home buyers. Buying now makes sense. If you have OK credit, a little bit of money for down payment, and you've been successfully renting for a year or two, you are ready to buy now. With the combination of affordable housing prices and low mortgage rates, there has never been a better time to become a home owner. First Time Home Buyer Tip: Talk to a Loan Officer FIRST. Most people do it wrong. They start looking at … (2 comments)
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.
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)
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