Home affordability reached an all-time high in 2010's last quarter. Unfortunately for home buyers in Minnesota, while home affordability is still near record lows, buyers are losing a bit of purchasing power. As Minnesota mortgage rates cratered, and with home values soft, the Home Opportunity I
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03/08/2011
Are you a Minnesota first time home buyer living near Woodbury? No matter where you are buying a home in Minnesota you’re welcome to attend our first time home buyer seminar. Learn everything you need to know to become a homeowner in an our 90 minute first time buyer seminar! In our seminars y
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03/08/2011
For certain members of the military, and for certain federal employees, there's just 2 months remaining to use the federal home buyer tax credit. Eligible persons include members of the uniformed services, members of the Foreign Service, and intelligence community employees who served at least 90
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03/07/2011
For the third time in 12 months, the FHA is changing its mortgage insurance costs. Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points. The change will add $250 to an FHA-insured homeowner's annual loan
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03/04/2011
Mortgage rates in Minnesota could begin to move higher beginning tomorrow morning. The Bureau of Labor Statistics releases its February jobs report at 8:30 AM ET. Minnesota home buyers and rate shoppers in Saint Paul would be wise to take note of this. The jobs report is almost always a market-mo
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03/03/2011
Unrest in Middle East is impacting mortgage rates and ultimately home sales. Mortgage apps fell by 6% last week despite rates coming down after a temporary spike up due to the crisis. Concern over the middle east and the rise on fuel prices seems to be eroding homebuyer confidence according to th
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03/02/2011
Last week, Standard & Poor's released its S&P/Case-Shiller: Home Prices End 2010 on Downtrend' target=_blank>Case-Shiller Index for December 2010. The index is a home valuation tracker, meant to measure the change in home prices from one period to the next. December's Case-Shiller Index show
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03/02/2011
Over the past several years, FHA loans in Minnesota have become the most popular program for both home purchase and refinance loans. I’ve compiled an FAQ of typical questions regarding Minnesota FHA loans. What is the minimum credit score for FHA loans? The minimum credit score for FHA loans in
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03/01/2011
We are fortunate in Minnesota to have the Minnesota Housing Finance Agency (MHFA). This program offers up to $4,500 of down payment assistance to Minnesota first-time home buyers through it’s CASA program. Register now for a Minnesota First Time Home Buyer's Seminar! Let’s take a look at some
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03/01/2011
FPP Funds in Hennepin County This source of down payment assistance funds is designed for home buyers within certain census tracts in Brooklyn Park, Brooklyn Center, Champlin, Crystal, New Hope, Maple Grove, Robbinsdale, Rogers/Hassen Township, and Richfield of Hennepin County. Note that I said h
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03/01/2011
