Buyer Financial Info
Minneapolis and St. Paul City Living Programs
If you’re new here, you may want to Subscribe to my RSS feed. You may also be interested in coming to one of our FREE First Time Home Buyer Classes. Click here for more information. Thanks for visiting!Amongst all the First Time Home Buyer Programs available in MN, the City Living program in [...]
60 Days Left For 2010 HomeBuyer Tax Credits
That’s right folks – there’s only 2 months left for you to find a house, make an offer, and get an accepted purchase agreement. For the complete list of requirements on the 2010 Home Buyer Tax Credit click here.
For those first time homebuyers who think they have plenty of time to get the deal done, [...]
Taking The First Step Towards Home Ownership
For most First Time Home Buyers, it’s scary to take the plunge into home-ownership. A lot of new buyers in mn don’t know where to begin, and aren’t sure they’re ready for the work ahead.
To help you, we’ve put together a great First Time Home Buyer Class to help educate you on the process and [...]
February 2010 Monthly Skinny
Here’s another snapshot of the Minneapolis and St. Paul area housing market, courtesy of the Minneapolis Area Associattion of Realtors.
They call it the “Monthly Skinny” report.
(note: I suggest pausing on each slide to fully read the numbers displayed)
Big FHA Mortgage Changes Coming
You may have heard that the Federal Housing Administration (FHA) is changing some key things in their loan insurance package.
For those that don’t know, FHA mortgages are loans that are insured (not originated or funded) by the FHA. They offer 3.5% down payment and competitive interest rates.
Well, a TON of people are using these loans [...]
First Time Home Buyer No-No’s
Ok, I know you’re thinking this is elementary school language, but sometimes in the home buying process you need to take a step back and remember some very important items.
I wanted to share this article written by Darcy McDonald, a mortgage officer with Cornerstone Mortgage–she is my First Time Home Buyer partner and she has [...]
90-Day FHA Rule Waived
As of February 1, 2010 the Federal Housing Administration (FHA) is waiving their regulations on the “90-day Flipping Rule” they have in place for new FHA borrowers.
To be clear, let’s define everything here.
An FHA loan is a mortgage that is insured (not underwritten) by the FHA for borrowers that meet their qualifications. About 80-90% of [...]
St. Louis Park – Live Where You Work
I was working with a Minnesota First Time Home Buyer last week and we were searching for properties in St. Louis Park, MN. One listing told us the buyer could get $2,500 in local grants, so we decided to look into it.
As it stands now, St. Louis Park has a buyer incentive called “Live Where [...]
Filing Your Home Buyer Tax Credit
I just received a very informative note from a colleague of mine regarding tax filing for the 2009-2010 Home Buyer Tax Credits. If you are eligible for either Tax Credit you must file a paper return, and NOT an e-file tax return.
I’m not a great tax mind, so don’t ask me why, but the IRS [...]
MN Housing Programs
It’s no secret that First Time Home Buyers have a good number of programs and loan options available in Minnesota. If you’re looking for down payment assistance or closing cost help there are a couple programs you could take advantage of through the Minnesota Housing Finance Agency (MHFA).
The first is called the “Minnesota Mortgage Program” [...]
