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 lender that you will connect well with.

It is ok to get different quotes from different lenders, just be careful as to how many lenders you apply with. Each lender that you give your loan application to will pull your credit to see what your score is and how much you qualify for. You do not want too many lenders pulling your credit as it could lower your credit score.

What most people don’t know is that there are down payment assistance programs for every part of Minnesota. Most lenders are able to get you pre-approved for every type of assistance you may qualify for, but there are many lenders that are unable to offer any programs that may benefit a first time home buyer.

Do you qualify for these programs? Which programs do you qualify for?

There are a many factors that lenders look at to see if you qualify for down payment assistance. Some of these factors are income, minimum credit score, and whether or not you have owned a home within the last 3 years. It is impossible to see what you qualify for without these factors availabe for a lender review.

If you want to see exactly which programs are available and which ones you may qualify for, please call or e-mail us today and we can get you set up with a free consultation with one of our mortgage bankers.

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