Minnesota Mortgage Blog - Mortgage and Real Estate News You Can Use

Minneapolis, MN:  The biggest challenge for most home buyers, especially first time home buyers, is coming up with the required down payment.  While most people understand down payment, they are shocked to learn their are mortgage closing costs. Wose yet, is discovering how much closing costs can...

Minneapolis, MN: VA home loans are one of the greatest benefit to our U.S. Military personal that most vets will ever use. Dispelling VA loan myths that prevent them from using their benefits is therefore very important.VA loan Myth 1):  All veterans are guaranteed a VA loan.Reality: Veterans are...

Minneapolis, MN:  Headlines are screaming Average mortgage rates dropped.  Wow, super cool. Especially if you are actively in the home purchase or refinance market.  Unfortunately, just like so many other things, the devil is in the details.-------------From June 29, 2018----------------We live i...

Minneapolis, MN:  Looking to purchase a home in the near future?  The lack of down payment is a big hurdle for many people. But did you know you can use a gift for down payment? Most loan programs allow for a gift for either some, or all of your homes down payment, including FHA loans and convent...

Home shopping? Get Pre-Approved First Minneapolis, MN: People often make the mistake of starting a home search without knowing what they actually qualify for. Falling in love with a $400,000 home and finding out you qualify for $200,000 can be heartbreaking. Thinking a loan approval will be easy...

Minneapolis, MN:  Not every potential home owner fits the cookie cutter guidelines of most traditional loans, especially the self-employed person. The mortgage industry had plenty of alternative options for self employed right up until the housing crash in 2007, including bank statement loans, st...

Can you get rehab loans to buy and fix a home?  YESThere is no doubt that the current real estate market offers a lot of great bargains on short-sale, foreclosed, and homes in need of some tender loving care. However, many of these homes are in less than perfect condition. Many just have simple c...

Minneapolis, MN: When buying a home and getting a mortgage loan, the vast majority of people simply include the homes property taxes and insurance in the payment. But if you put at least 20% down payment on a conventional loan, you can opt to pay your own taxes and insurance. While only a small n...

Minnesota First-Time Home Buyer TipsMinneapolis, MN: Being a first time home buyer, and buying your first home is an exciting time. There is no reason to be worried, and here are a few tips to help guide the way.STEP 1:Find a lender - Get Pre Approved for a Mortgage Loan.Unless you are paying cas...

Many people get their credit score from places like Credit Karma, and off their credit card statements. But are these your real credit scores?The answer is YES and NO. Yes, they are a real credit score, but you may get a very different score when your credit is reviewed by lenders.CONFUSED ABOUT ...