There is no shortage of resources in the state of Minnesota for first time home buyers. Did you know that Minnesota offers financing programs designed exclusively for first time home buyers through the Minnesota Housing Finance Agency? Commonly known as MHFA, this state agency provides home mortgage financing through Minnesota mortage brokers at special interest rates along with possible down payment assistance programs. Expanded credit parameters in the program are also helpful to many buyers wishing to buy their first home. Minnesota Housing Finance Agency works with typical home loans such as VA loans, FHA loans, and conventional mortgage financing.
There are a variety of mortgage financing options that can may benefit today's first time home buyer. The most common today are FHA loans which allow you to get into a home with as little as 3.5 percent down. A program designed for American's veterans are known VA loans, a program with as little as zero down payment. If you find a home with Fannie Mae's Home Path logo, you might qualify for their 3% down Home Path loan which does not require mortgage insurance. Your mortgage lender will help find the best program based upon your loan qualifications.
Are you thinking about buying a home in the Twin Cities soon? In order to get prepared you should get preapproved for a mortgage early in the process. Once you have done this we can focus our searches on homes that you can reasonably afford. I work with all types of home buyers throughout the Twin Cities area and would I would like the opportunity to talk with you. Please contact me and we can get started soon.
Sales Executive, Licensed Realtor in Minnesota
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.