If you are buying a home in Minnesota, your first step is getting pre-approved for a mortgage. Most Real Estate agents will not even work with you if you have not been pre-approved by a mortgage company.

Also by being pre-approved helps you understand what you can and can't afford when it comes to a new home. Im sure you do not want to waste your time looking at homes that you can't afford, do you? Rates are still low but lenders are tightening their guidelines when it comes to 100% financing.

I still have lenders that will finance the entire home and allow for up to 6% of the purchase price rolled into your closing cost. It is a buyers market right now and this may be the best time to buy a home if you are looking for 100% financing.

Before signing any papers make sure you understand financing terms such as interest only loans and option arm mortgages. If you do not understand fully how these loans work, you may be at risk of loosing your home when the interest rates start to rise. Get all the mortgage information you need by visiting Minnesota's Mortgage Broker, click here.

Get your copy of the“Home Buyer’s Handbook“ sent directly and instantly to your email. This booklet is an excellent guide for first time home buyers and covers topics ranging from credit scoring and points to pre-approval and home inspections. It even contains a glossary of industry terms.

 Click Here to get your free copy of the "Home Buyer's Handbook".