Archive for the 'Foreclosure' Category

Filed under Casa,City Programs,Conventional,Credit,FHA,First Time Home Buyer Programs,Foreclosure,Government Loan,Home Loans,Interest Rates,Mhfa,Minnesota First Time Home Buyer,Minnesota Housing,MN First Time Home Buyer,Short Sales

Are You Ready to Purchase a Home?

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 [...]

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No Comments downpaymentadmin on Nov 6th 2012

Filed under Casa,Conventional,Credit,FHA,First Time Home Buyer Programs,Foreclosure,Government Loan,Home Loans,Interest Rates,Minnesota First Time Home Buyer,MN First Time Home Buyer,Short Sales

Ways to Build Your Credit

It is actually pretty easy to build credit. Try one of the following ideas: Ask your bank or credit union about a secured credit card. You can make a deposit to your account and have a credit limit in the amount of your deposit. The bank takes little risk and you build credit slowly. Use [...]

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No Comments downpaymentadmin on Oct 30th 2012

Filed under Casa,City Programs,Conventional,Credit,FHA,First Time Home Buyer Programs,Foreclosure,Government Loan,Home Loans,Interest Rates,Mhfa,Minnesota First Time Home Buyer,Minnesota Housing,MN First Time Home Buyer,Short Sales

Are You Ready to Be a Home Buyer?

By Elizabeth Weintraub, About.com Guide To be a buyer means to conform to the market. © Big Stock Photo   Ads Question: Are You Ready to Be a Home Buyer? A reader asks: “I would like to be a home buyer, but I don’t know if I’m ready to buy a home yet. How can [...]

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No Comments downpaymentadmin on Oct 8th 2012

Filed under Casa,City Programs,Conventional,Credit,Fannie Mae Home Path,FHA,First Time Home Buyer Grants,First Time Home Buyer Programs,Foreclosure,Freddie Mac,Government Loan,HARP,Home Loans,Interest Rates,Mhfa,Minnesota First Time Home Buyer,Minnesota Housing,Short Sales,VA

What’s in a Credit Score?

by Jann Swanson What’s in a Credit Score? More than You Might Think, and It’s Constantly Changing Decrease Font Size Text Increase Font Size Sep 6 2012, 1:16PM Editor’s note:  DataQuick®, a provider of advanced real estate information solutions recently announced that Gordon Crawford, Ph.D. had joined their firm as vice president of Analytics.  MND [...]

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No Comments downpaymentadmin on Oct 5th 2012

Filed under Casa,Conventional,Credit,FHA,First Time Home Buyer Programs,Foreclosure,Government Loan,Home Loans,Minnesota First Time Home Buyer,MN First Time Home Buyer,Short Sales

Interesting Ellie Mae Facts

Mortgage News Daily summed up Ellie Mae’s latest “Origination Insight Report” (covering 20% of mortgage originations and coming through a 33% sample of Ellie’s platform) showing that “the time needed to close a mortgage loan has increased by almost 25 percent over the last year, from an average of 40 days to 49 and it [...]

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No Comments downpaymentadmin on Sep 27th 2012

Filed under Archived Blogs,Foreclosure

HOME Forclosure Partnership Program (FPP)

Program Quick Look Eligible Primary/First Mortgage Loan Products: Prime, Fixed Rate (FHA, VA, Conventional) Maximum Borrower Income: 80% of Hud Median Income (AMI) Maximum Housing Ratio: 30% Minimum Borrower Investment: Greater of 1/2 of required downpayment or $1000.00 Elgible Property: Non-Forclosed home in target area that is not a current rental property Loan Rate and [...]

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No Comments downpaymentadmin on Oct 27th 2011