Archive for the tag 'mn first time homebuyer'

The answer is absolutely!!  There is a waiting period however.  Conventional financing is between 5 and 7 years, with extenuating circumstances it is 3 to 5.   Examples of Extenuating circumstances are due to death, illness, job transfer or accident resulting in severe injury. Generally, things that happen beyond your control and dramatically affect your ability […]

Share

No Comments downpaymentadmin on Oct 17th 2012

On February 1st Minnesota Housing interest rates have dropped.  Please feel free to click on this link to see what is availiable http://www.mnhousing.gov/consumers/rates/index.aspx.  If you are in the market to purchase now may be a great time to act.  Remember you must be a first time homebuyer to use this program.  That means you can […]

Share

No Comments downpaymentadmin on Feb 3rd 2012

When determining your credit score there is five key components. 1.Payment History– Paying your credit cards or revolving accounts and installment loans like car payments and student loans on time is important. They will report favorably to your credit as long as you pay your bill before it is 30 days late. If you make […]

Share

No Comments downpaymentadmin on Dec 12th 2011

In todays real estate market there is more first time homebuyer money or down payment assistance availiable than ever. That being said when you are interviewing a loan officer to decide if you may want to work with them ask about programs that may be availiable. With so many out there you can not expect […]

Share

No Comments downpaymentadmin on Oct 28th 2011

Ramsey County’s FirstHOME Buyer Assistance Program is available through responsible local financial institutions. The program helps first home buyers purchase homes more affordably by providing deferred loans that can be used for downpayment assistance, closing cost, and occasionally health and safety codes inprovementns. Eligible buyers may qualify for up to $10,000.00 with a 0% interest […]

Share

No Comments downpaymentadmin on Oct 25th 2011