Archive for the 'City Programs' Category

It is the assumption that you need a lot of cash to qualify to purchase a home.  This isn’t the case anymore. With having the down payment assistance programs, you are able to pay nothing to very little for down payment on a home. Just because you don’t have a lot of money in the […]

Share

No Comments downpaymentadmin on Sep 23rd 2013

“I have just started looking and I don’t know what I am doing.” “I have just begun my search and not sure where to go or what to do.” “I don’t know where to start.” These are the most common things people say when they start house hunting. This can lead to many people being […]

Share

No Comments downpaymentadmin on Aug 26th 2013

We all have been a situation where our credit score is bad and yet we want to get a home or a car. So how can we improve our credit score? By following these few tips. Tip #1. Be patient. Remember that improving your credit score will be like losing weight. You may not see […]

Share

No Comments downpaymentadmin on Aug 8th 2013

More and more people want to know what sort of programs are out there and do they qualify for those programs. A lender can’t determine which program is right for you without knowing more about you.   SOME of the programs out there that Minnesota offers are:   1. Minnesota Housing Start Up Program-This is […]

Share

No Comments downpaymentadmin on Jul 12th 2013

  Everyone is wondering how to get down payment assistance. This is based upon what you qualify for, which can determine which program is right for you. There is not one program for everyone, because each person’s situation is different.   The first step would be to see which programs you qualify for. The best […]

Share

No Comments downpaymentadmin on Jun 27th 2013

How many of us have sat down with a mortgage lender and then been told that they can’t get down payment assistance because the lender doesn’t offer it? We have all been there and been frustrated with this situation. What we recommend is before you finally purchase your dream home, shop around diligently for a […]

Share

No Comments downpaymentadmin on Jun 5th 2013

Cyber Monday is all about getting the best deal on those dream gifts. What better “dream gift” is there, than buying a new home instead of renting and paying someone else’s mortgage. Did you know you are probably paying more in rent than you would be owning? Our Cyber Monday special goes on every day […]

Share

No Comments downpaymentadmin on Nov 26th 2012

Credit Score:  Your credit score needs to be a minimum of 640 in order to qualify.  If you have had a previous Bankruptcy, the discharge must be at least 2 years.  A Prior Foreclosure or Short Sale needs to be at 3 years ago. Employment History: We look at your previous 2 years of employment […]

Share

No Comments downpaymentadmin on Nov 6th 2012

Debt Ratios First, look at your monthly gross income, before taxes and contributions. This is how much you make per month, not how much you take home. What you take home is net income. • Front-End Ratios Lenders use what is called a front-end ratio, which is reflected as a percentage of your gross monthly […]

Share

No Comments downpaymentadmin on Oct 26th 2012

  Government Loans What is a Government Loan? A number of loan programs are sponsored by the federal government to assist American families to become homeowners. The programs are structured to insure various loan types, allowing lenders to approve loans for more people. The most popular government backed loan programs are the Federal Housing Administration […]

Share

No Comments downpaymentadmin on Oct 11th 2012

Older Posts »