Archive for the tag 'Down Payment Assistance MN'

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

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

  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 […]

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No Comments downpaymentadmin on Oct 11th 2012

Home Ownership Works is designed to address the goal of providing home ownership opportunities for households who otherwise would have difficulty in attaining home ownership. * It provides decent, long term affordable home ownership opportunities for households who would normally experience challenges in achieving home ownership. * Address the problem of vacant and deteriorated structures […]

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No Comments downpaymentadmin on Feb 9th 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

ANOKA COUNTY DOWN PAYMENT ASSISTANCE AT A GLANCE Terms and Conditions: Down Payment Assistance funds will be provided to eligiblerecipients in an amount not to exceed $10,000.00.Funds will be secured against the property as a 0% interest deferred loan for five years. In the sixth year repayment requirements of down payment assistance funds will be […]

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No Comments downpaymentadmin on Nov 7th 2011

Program Guidelines At A Glance: Overview: For 1st time buyrs purchasing in the city of Minnetonka Loan Amount: Maximum loan amount is $10,0000.00 Interest Rate and Loan Term: rate updated monthly and is 75% of Prime Rate + 2pts. Rate is determined at application and is fixed for a 10 year term. Borrower Eligibility: First […]

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No Comments downpaymentadmin on Nov 1st 2011

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