usda: National Homeownership Month
- 05/19/22 12:34 PM
June is National Homeownership MonthMinneapolis, MN: We all need a place to live. While renting works for many people, especially short-term, homeownership has a well documented history of major benefits, proving why throughout history so many people are eager to buy a home. From a place to call home, lay down roots to raise a family, being able to have a dog, and crank up the stereo without being yelled at, to building wealth, nothing beats homeownership. We all know that real estate is one of the best ways to build wealth. A recent Federal Reserve survey found that the medium net worth … (2 comments)
usda: Reasons why you can buy a home with a very small down payment
- 07/11/17 10:01 AM
Reasons why you can buy a home with a very small down payment The lack of down payment money is by far the biggest reason people do not believe they can buy a home. A recent survey even indicated a whopping 44% of non-homeowners thought you needed at least 20% down payment, and that simply isn't true for most home buyers. Clearly mortgage companies and real estate agents need to do a better job of educating non-home owners. The reality is very few people need anywhere close to 20% down payment, and most people can buy a home in the areas … (0 comments)
usda: USDA Loan Mortgage Insurance going up
- 05/22/14 07:26 AM
Looking to buy a home with a Zero Down Payment USDA Rural Development Loan? You don't need to buy a home in a cornfield to use the USDA Rural Housing loan, but the property does need to meet their rural definition, and many areas qualify. USDA loans, like most others, require mortgage insurance. Effective October 1, 2014, the monthly mortgage insurance on a USDA loan will increase to .50%. This is up from the current .40%. On a sample $100,000 loan amount, the new mortgage insurance costs would be $41.87 a month, up from the current $33.49 a month. While no … (1 comments)
St Paul, Minnesota: To obtain a USDA Rural Development loan, the house you are buying must be deemed "rural" by the Department of Agriculture. You can check the USDA eligibility web site map to see if a house is located in an eligible area. Annoucements were made and dates set for significant changes in the location eligibility areas. The eligibilty map web site currently allows you to check both current, or future (under the new guidelines) map locations. The original change date was a few months ago, … (0 comments)
usda: USDA OUT of Refinance Money for 2012 - Purchase Money Still OK!
- 08/22/12 02:24 AM
USDA Refinance funds for fiscal year (FY) 2012 are now exhausted! St Paul, MN: Have a USDA Rural Development loan? Thinking of getting a USDA Refinance loan? Sorry - USDA announced today that they are out of money for refinances for 2012. For the vast majority of homeowners, this really isn't a big issue, as many of them can lower their interest rate and refinance into many other loan products. Looking to buy a home? USDA Rural Development Purchase Loans on the other hand have plenty of money - so there is no need to worry if you are buying a home. As a side … (1 comments)
This change is due to a number of reason, including larger populations, elimination of special consideration zones, or they no longer meet the definition of rural. The effected cities in MN are listed here ---->>> Click this link to view the full list of cities across the county that are losing their ability to get a USDA Rural Development loan. Click these links for general income and location eligibily: USDA INCOME Eligibility CheckUSDA Property Eligibility Check USDA Loan … (3 comments)
usda: USDA Zero Down Payment Home Loans
- 06/13/12 03:32 AM
USDA 100% Home Loan Financing - Best Kept Mortgage Secret! 7 out of the 11 Twin City County Areas are eligible. These properties are closer than you think! The USDA Guaranteed Rural Housing Mortgage Program offers individuals and families 100% financing for semi-rural to rural properties throughout the state of Minnesota and Wisconsin. 100 % Financing - ZERO down payment No Cash From Buyer Cheap Mortgage Insurance (especially compared to FHA loans) No Assets Needed - No Money left in the bank needed Relaxed Credit Requirements Finance Closing Costs into the Loan … (0 comments)
usda: NOT Just for Rural Areas - The ZERO DOWN PAYMENT USDA Rural Development Loan
- 04/09/12 10:08 PM
ZERO DOWN USDA RURAL DEVELOPMENT LOAN - Not just for Rural Areas St Paul, MN: One of the biggest challenges for most first-time home buyers is a lack of down payment, and not having the money to pay closing costs. Almost all "zero down payment programs" disappeared with the mortgage market meltdown that started in 2007, so in most parts of the country, the only true no money down programs are just the VA home loan for Veterans or the USDA Rural Development Loan. Guaranteed by the USDA (United States Department of Agriculture), this program might make you think that you … (0 comments)
usda: Are Mortgage Rates Going Up?
- 04/01/12 11:06 PM
ARE MORTGAGE RATES GOING UP? Minneapolis, MN: Mortgage interest rates jumped up last week, putting a scare in those sitting on the fence, thinking about refinancing, yet waiting form rates to drop a bit lower. Lucky for them, Minnesota mortgage interest rates moved back down slowly to about where they have been holding for some time. The big question is how long can mortgage rates remain this low? Mortgage rates have been stuck at these amazingly low levels for the past five months. According to Freddie Mac weekly survey of mortgage rates, last week was the first time that … (0 comments)
usda: 20% down payment is NOT Required!
- 11/09/11 03:07 AM
I hear the question all the time, "Do I need 20% down payment" NO, you DON'T need 20% down! I saw it again on the news this morning. Some talking head "Real Estate Expert" was telling the national audience that lenders require 20% down payment. Generally speaking, this couldn't be further from the truth, and needing 20% down is a huge misconception in the marketplace today. For the average home buyer, there are numerous options for obtaining financing with less than 20% down. DON"T ASSUME! Contact a local licensed mortgage loan officer and let them professionally review your individual situation. Click … (2 comments)
usda: Zero Down Home Mortgage Loans Are Here!
- 04/30/11 01:34 AM
Zero down payment home loans are back. Actually, some of them never went away. VA and USDA Rural Development are two very popular home loan options. Learn more by watching today's "Royal" performance. CG Live from London.
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(C) 2011 - Joe Metzler - Mortgages Unlimited, St Paul, MN #274132. Re-blog but do not steal! We lend in MN and WI ONLY. Searching rates on home loans, rates for refinancing your mortgage in MN or WI. We have some of the best rates on home loans! … (3 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.
June is National Homeownership MonthMinneapolis, MN: We all need a place to live. While renting works for many people, especially short-term, homeownership has a well documented history of major benefits, proving why throughout history so many people are eager to buy a home.
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