Archive for the tag 'government loan 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

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

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

Debt Ratios First, look at your monthly gross income, before taxes and contributions. This is how much you make per month, not how much you take home. What you take home is net income. • Front-End Ratios Lenders use what is called a front-end ratio, which is reflected as a percentage of your gross monthly […]

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No Comments downpaymentadmin on Oct 26th 2012

HUD homes are aimed at low to moderate income buyers and great for first time homebuyers.  When a lender forecloses on an FHA home insured by HUD, HUD pays the lender the amount owed and then tries to sell the home at auction. This allows buyers to get the home way below market value. HUD […]

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No Comments downpaymentadmin on Oct 25th 2012

First time home buyer loans allow buyers to get into a house more easily. However, just because you’re a first time home buyer doesn’t mean you qualify for a first time home buyer loan. These programs have income limits and strict underwriting guidelines. While they are a perfect fit for some, first time home buyer […]

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No Comments downpaymentadmin on Oct 24th 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

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