Archive for the 'Minnesota First Time Home Buyer' Category

 FHA Loans Carry Many Benefits for Home Buying or Refinancing By Elizabeth Weintraub, About.com Guide FHA loans aren’t just for first-time home buyers.   FHA loans are fell out of grace for a few years, but since 2005 have rebounded! It’s an institution that has been around for a long time, since June 27, 1934. […]

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No Comments downpaymentadmin on Sep 25th 2012

Current Mortgage Rates for Monday, September 24, 2012 By Michael Krauson September 24, 2012     Last week mortgage rates once again pushed into record low territory.  With little in the way of significant economic data or news of real substance, the benefit of the Fed’s newest round of easing may be filtering its way […]

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No Comments downpaymentadmin on Sep 24th 2012

  iStockPhoto/Christine Balderas Mistake: Not Getting a Preapproved Home Loan It’s easy to fall into the trap of thinking you first find the house you want, and then you can start thinking about the loan process, especially if you’ve already taken care of your credit. However, it’s not quite that simple. It’s a good idea […]

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No Comments downpaymentadmin on Sep 21st 2012

Homebuilder Confidence Rises Again; Tops 40 Home builder confidence continues to make new highs.  As reported by the National Association of Home Builders, the Housing Market Index, a measure of builder confidence, rose to a reading of 40 in September — its highest mark since June 2006. The index is now higher through five straight […]

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No Comments downpaymentadmin on Sep 20th 2012

We hope you all have heard about the down payment program called Neighborhood Lift in Minneapolis and St. Paul and wanted to let you know that Waterstone is one of the few lenders  that is approved to offer this program.  The money was reserved quickly because of the way they have it structured.  For most […]

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No Comments downpaymentadmin on Sep 18th 2012

Homeownership Loan Programs Effective  09/05/2012 3:15 PM   Government Interest Rate HFA Preferred™ (Conventional) Interest Rate HFA Preferred™ Risk Sharing (Conventional) Interest Rate Minnesota Mortgage Program(MMP) 3.250% 3.750% 4.000% Community Activity Set-Aside(CASA) 3.625% 4.125% N/A Note: The HFA Preferred™ and HFA Preferred Risk Sharing™ incorporate the Fannie Mae/Freddie Mac Adverse Market Delivery Charge. Lenders do […]

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No Comments downpaymentadmin on Sep 17th 2012

Geographical Area: Woodbury Elgible Properties: Single Family Dwellings, Townhomes, twin homes or condominiums. Purchase Price must be below $256,500.00 Maximum Funds: $25,000.00 3% Interest. Interest is paid monthly while principal is deferred Availability of Funds: First Come First Served basis Repayment Requirements: Principal is deffered for 30 years or until sale of property, transfer of […]

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No Comments downpaymentadmin on Feb 20th 2012

Being a first time homebuyer can be extremely nerve racking for many borrowers. So here are a few helpful hints. #1 Do not apply for a mortgage until you are ready #2 Have your complete tax returns and w2’s for the last 2 years #3 Make sure you have the most recent 30 days of […]

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No Comments downpaymentadmin on Dec 12th 2011

We have many clients asking if there is anyway to do 100% financing still. The answere to this question is YES! With the use of Rural Development loans you are able to do 100% financing for properties in certain geographic locations. If you would like to check out if the location of a property will […]

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No Comments downpaymentadmin on Nov 22nd 2011

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