Info For Shoreview First Time Home Buyers

By
Real Estate Agent with IBR Realty

Want to buy your first home in Shoreview?

Are you thinking of buying your very first home in Shoreview? Many MN renters today are beginning to realizing that the recent rise in rents is making Shoreview real estate more attractive than ever. With the combination of low mortgage rates and lower property values monthly payments on a home in Shoreview may even be less expensive than what you are paying for rent! If you are a MN first time buyerI would definitely enjoy talking with you about these possibilities.

Shoreview, MN Information

The City of Shoreview is an excellent place to consider if you are thinking about making a move. Situated in Ramsey County is a convenient second-ring suburb just north of Saint Paul. The national magazine Family Circle named Shoreview as one of the Top 10 best places to live in a 2008 article. With seven lakes in the community, including larger ones such as Turtle Lake, Snail Lake, and Lake Owasso, Shoreview offers plenty of recreation opportunities. If you're searching for affordable Minnesota housing consider looking in Shoreview.

Financing Options

There are a wide variety of mortgage loan programs that may benefit today's first time home buyer. The most common 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.

Down Payment Assistance

In addition to State of Minnesota down payment assistance funds many local communities offer programs of their own as well. Each of these programs vary in terms of qualifications required to access the funds. Depending upon when you are reading this these programs may or may not be funded so we can check on it when you call me.

The First Step: Get Preapproved!

For many MN first time buyers the big question is where do I start? Your very first step towards buying your first home is to get preapproved for a mortgage. By doing so you find out how much of a loan you are qualified for so that we can research homes in a price range with comfortable payments for you.

 

Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities

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