Archive for the 'Home Loans' 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 [...]

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No Comments downpaymentadmin on Sep 23rd 2013

Here are the most common myths in the mortgage world. Myth #1: I shouldn’t look/apply because I am not buying for another 1-5 years False. Just because you are not thinking of buying a home for a while doesn’t mean you shouldn’t see what your options are. By applying for a loan you can determine [...]

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No Comments downpaymentadmin on Sep 18th 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 [...]

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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 [...]

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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 [...]

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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 [...]

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No Comments downpaymentadmin on Jun 27th 2013

Rural Development (RD) Loans A USDA guaranteed Loan is government-insured 100% purchase loan. These loans are only offered in non-urban areas and serviced by direct lenders that meet federal guidelines. USDA Loans – They’re NOT for Farmers! A USDA home loan has nothing to do with agriculture. USDA Loans used to be considered “farmers loans” [...]

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No Comments downpaymentadmin on Nov 30th 2012

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 [...]

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No Comments downpaymentadmin on Nov 26th 2012

Federal Housing Administration (FHA) Loans FHA loan programs are designed primarily for first-time home buyers and others with moderate incomes that have not yet been able to save the cash needed for down payment amounts. A program insurance charge is rolled into the monthly payment amount to support this program and typically ends as the [...]

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No Comments downpaymentadmin on Nov 8th 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 [...]

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No Comments downpaymentadmin on Nov 6th 2012

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