Your Housing Market Questions AnsweredIf you have questions about what is happening in the mortgage world right now, you are not alone. Between increased mortgage interest rates, shifting inventory and leveling home prices many consumers have questions about what this all means. Don’t worry, we’ve got you covered!Check out our answers to the top three questions we’ve received recently…How Do Fluctuating Interest Rates Affect Qualification?One of the most important things to be aware of when purchasing a home in this current housing market is how changing interest rates affect your qualification. That’s why having an excellent Mortgage Lender is extremely important. They will help you to understand just how much interest rates can change your purchasing power.For example, if rates rise y... 09/07/2022

Minneapolis, MN: Yes. home prices are rising. Yes, mortgage interest rates are rising.But rental costs are rising too.So while it’s true that today's home buyers might have to lower their purchase price budgets, they can take comfort in knowing that they’re making a monthly housing payment one way or another. It will benefit them greatly if, in the long run, their housing payments are going to a home they own versus the landlords pocket.Imagine if you had bought a home just 3-years ago... How much equity you would have earned!Cambria Mortgage, The Joe Metzler Team has been helping home buyer, and especially first time home buyers achieve their dream of home ownership for over 25-years, and we can help you too with a wide array of programs to suit most people.It is super easy to see what... 08/23/2022

Minneapolis, MN: Mortgage interest rates are always changing. With inflation currently at a 40-year high, the FED is aggressively raising the cost of borrowing money to try to flow down inflation. This current inflationary market has caused havoc to home buyers, not only in the basic interest rate, but it has also caused serious compression to lenders in how they determine the interest rates they charge home owners.See current national average mortgage ratesWhat Are Discount Points?Discount points, commonly called simply Points in a way for a homeowner to buy down their loans interest rate today, in exchange for some additional costs up-front, paid at closing. Each Point represents 1% of the loan amount. For example, a $200,000 loan, one point would equal $2,000 in additional closing co... 07/22/2022

Life is better at the lake!That is why Cambria Mortgage is so proud to offer our Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota clients awesome financing for buying a second home or vacation property! We all know life is better at the lake!We also make it easy to apply, to determine how much lake home you can afford, how little down payment you may need to turn your weekends and summer into your lake life dream, and of course, how much you’ll have left over for that trophy fishing boat, or party pontoon.We offer super competitive second home mortgage rates, and will be happy to show you how to buy a second home, plus teach you all the second home mortgage requirements, like minimum down payment requirements.Simply call (651) 552-3681, or complete a quick pre-qualification fo... 07/08/2022

Minneapolis, MN: Congratulations, you've decided you want to buy a home and use one of your best VA benefit, the VA home Loan. As you begin working with the real estate agent, they shock you by talking about your chances of getting your purchase offer accepted with a VA Loan in today's sellers market is low, and that a VA loan puts you at a competitive disadvantage. They will usually even ask "can you switch to a conventional loan instead?" If they say this, IMMEDIATELY FIRE THE AGENT!Unfortunately, few real estate agent out there understands how awesome VA loans are, resulting is a lot of ignorance and unjust fear within the real estate agent community, giving them an undue bias towards VA loans and our military personal.Why VA Loan Bias By Real Estate Agents?Most real estate agents ha... 06/08/2022

Image via Pexels Your First Investment Awaits (But Do Your Research First)Real estate has always been seen as a great investment. Historically, residential properties gain in value thanks to long-term property appreciation and improvements/maintenance. If you have never purchased investment property before, it might seem like a daunting endeavor, but it doesn’t have to be.Here is some information for novice investors about what to consider and how to go about buying an investment property.Understanding Real EstateBefore launching your own investment initiative, you should research the real estate market. Look at trends in your chosen area over the last 10 to 20 years. You must understand that, like all economic movements, real estate has ebbs and flows. It is not always a steady uphill ... 05/31/2022

Mortgage Rates On The InternetMinneapolis, MN: Buying or refinancing a home is typically the largest financial transaction of your life. Shopping for the best interest rate just makes sense, but as with so many other things, caveat emptor, or latin for "let the buyer beware."Many lenders post their interest rates on their web sites. Sadly, day in and day out, I must constantly show clients that what they though they were looking at, isn't exactly what they were looking at.While we show national average interest rates in the USA on our web site, I'm even hesitant to do that because people just assume "that is their rate", while really it is more of just giving people an idea of where rates are hovering, versus what any particular client may actual get. There are many reasons posting rate... 05/24/2022

June is National Homeownership MonthMinneapolis, MN:  We all need a place to live. While renting works for many people, especially short-term, homeownership has a well documented history of major benefits, proving why throughout history so many people are eager to buy a home.From a place to call home, lay down roots to raise a family, being able to have a dog, and crank up the stereo without being yelled at, to building wealth, nothing beats homeownership.We all know that real estate is one of the best ways to build wealth. A recent Federal Reserve survey found that the medium net worth of a homeowner is $255,000, compared to the medium net worth of a renter, at just $6,000.While savings, 401k, and other investments help contribute to net worth, for most, your home is your biggest asset... 05/19/2022

Highway 169 and 10 work in Elk RiverReal estate market data in Elk River MN by Joel Friday of Keller Williams Classic RealtyUS Highway 169 through Elk River has 5 stoplights that create congestion on Friday nights as people head "up north" to their cabins and recreation as well as Sunday afternoons. Morning and evening commutes are also greatly affected. Well, it is about to get worse so they can eliminate these lights. One lane traffic in each direction starts soon at the US 10 intersection as the northbound bridge will be replaced. Also, expect one lane traffic at the 197th Ave intersection for the rest of the year with access to 197th Ave closed until the bridge is completed.Us Highway 10 will be down to one lane from 173rd to Main St as they rebuild the west bound lanes and the inte... 04/29/2022

Buy with cash, get a loan afterwardsCambria Mortgage Delayed Financing Program. Buy a home with cash, refinance later.Minneapolis, MN:  In this crazy real estate market, maybe people are resorting to buying a home with cash to be the most attractive to sellers.Sellers love cash offers, putting you at the top of the pecking order amongst competing offers. But not everyone can, or even wants to pay cash for the new home.  Many people are pulling cash from savings accounts and 401k loans, but realistically want a loan, and need to put that money back.No worries, Cambria Mortgage, the Joe Metzler Team offers a 'delayed financing' program to recoup your cash within six months of closing without delay!Borrowers who purchased a property within the past six months, measured from the closing dat... 04/21/2022

Today’s competitive housing market requires buyers, lenders and real estate agents to act fast. 💥 Your winning ticket to buying a home in Minnesota is getting pre-approved with Joe Metzler at Cambria Mortgage.A strong pre-approval letter from a local lender that Real Estate Agents know puts your offer way ahead of others, especially if your letter is from out state, or worse yet, big internet lenders.Don't lose out because you picked the wrong lender!Be prepared to buy ahead of time so you can act quickly with confidence. Ready to get started? Reach out to us at (651) 552-3681 or apply online at https://JoeMetzler.com/applicationNMLS 274132 - Equal Housing Lender#mortgage #realestate #housing #realestate #realestateagent #Minneapolis #Minnesota #firsttimehomebuyer  04/21/2022

Minneapolis, Minn: Buying a new home is an exciting prospect. Make sure you don’t hit any potential bumps along way by following our tips below, especially you first time home buyers.Examine Your FinancesObviously purchasing a home is a large financial decision. Taking a look at your monthly expenditures and your debt is a great way to get started in the home purchase process. Take a look at where your money is going every month; figure out where you can make changes in your spending or cash flow that’ll increase the money you can dedicate toward saving for a down payment. Look for easy areas of spending, like that monthly subscription you don’t even use or start making coffee at home versus the expensive cups from the drive through on your way to the office. These are simple tweaks in ... 04/15/2022

Coping with home buyer heartbreakMinneapolis, MN: If you’re out and about in today’s housing market, when we reference “home buying heartbreak” you likely know exactly what we are talking about. Navigating today’s housing market is anything but a honeymoon. Buyers are seeing multiple offers to compete with on nearly every home, contract terms are tricky and it’s rare to see a home go for less than list. With that said, missing out on a home is not uncommon. You know what they say, think with your head and not your heart… But it isn’t always that simple – we get it. Here’s how to power through and come out on the other side stronger when the one you fell in love with gets away.Take some time to processNo matter what it is, losing out on something takes time to get over. Feel all the feel... 04/12/2022

Minneapolis, MN: Figuring out which mortgage program is best for you can feel very overwhelming. Below we provide a list of some of the most common mortgage loan programs available in today's market.We suggest rather that trying to figure out which program is best on your own, that you simply complete a full online mortgage application with a local mortgage broker instead.Once the lender has all your information, they can discuss your exact overall situation, including your wants, needs, and ability. Then zero in like a laser beam on the programs you qualify for, how much house you can afford, what the payment might be, and how much money you will need to pull it all together.Here is a list of most basic mortgage loan programs available from Cambria Mortgage in MN, WI, IA, ND, and SD.Ma... 03/30/2022

Minneapolis / St Paul, MN: Mortgage interest rates have always been a roller-coaster ride. Ups and downs, and twists and turns.With the pandemic induced interest rate lows of 2020 and 2021 now a thing of the past, the return to a more normal interest rate patterns has many people freaked out.This historical mortgage interest rate chart from March 1971 to March 2022 is very interesting to look at.Oh course any rise in mortgage interest rates has an impact on a home buyers purchasing power, especially first time home buyers, so people are asking if they should wait to buy a home until rate come back down.First, look at the graph again. Now remember that if mortgage rates come back down, you can always refinance. But if you wait, and rates keep going up, then you are stuck with both higher... 03/28/2022

Do you know what to look for when choosing a mortgage lender?You have most likely noticed ads for mortgage companies on the radio, TV and even at the gas pump. There are surely enough options to choose from, but how do you know if a lender is right for you? I've put together a few tips on what to look for when choosing a lender. Check them out below!Your Best InterestThe first thing to remember before starting this journey is that you are looking to make the best choices for your financial future. Making sure you enlist the correct team to help you do that is of utmost importance. Your Mortgage Loan Officer should want to sit down with you and review your current situation and future goals. At Cambria Mortgage, our focus is on you. I take the time to fully understand your unique financi... 03/23/2022

Buying a home doesn't need to be complicated!Minneapolis, MN: When you're preparing to buy a home, especially for first time home buyers, it's really important to know what actions can make or break your transaction.Buying a home doesn't need to be complicated, but it's important to be informed and be mindful of how your decisions may effect your qualification for a mortgage. Doing things like continuing to pay your rent or current mortgage on time, maintaining consistent employment and avoiding opening any new lines of credit (No, you would NOT like to save 10% by opening a Kohl's card today!) will help you along your home buying journey.Check out the image below to play a quick round of "YES or NO: Planning Ahead for the Perfect Mortgage Application":  --------------------------------... 03/17/2022

Minneapolis, MN:  It is no secret that buying a house in today's market can be a challenge with the low inventory of homes for sale, and having to make multiple offers before successfully buying a home.Falling in love with a home, and then having your offer rejected is no fun, and if you've been through a few rejections, definitely discouraging. Here are a few thoughts to mentally stay in the game, and potential options to make your offer stronger. Remember, it's not really 'you' that is getting rejected.  In a multiple offer game, especially these crazy 10, 15, 20+ offer homes, being the winner is tough, especially for first time home buyers with limited funds. Understanding the market and having realistic expectations helps.With your agent, try to obtain feedback of why your offer was... 03/15/2022

The Minneapolis/St. Paul real estate market is one of the fastest-growing in the nation. As demand for housing grows, the average value of Minneapolis homes has increased by 5.7% over the past year. Minneapolis real estate agents will be competing with other real estate brokers for the attention of potential sellers. One of the most important ways a Minneapolis real estate agent can differentiate themselves from the competition is by conducting a thorough comparative market analysis.  What is a Comparative Market Analysis? A Comparative Market Analysis (CMA) is how real estate professionals price a property. This analysis is based on similar homes in the current market. These properties are either recently sold or currently for sale. CMAs utilize various data and comparison points to ev... 03/10/2022

Highway 10 in Anoka one lane for 2 yearsReal estate market data in Anoka MN by Joel Friday of Keller Williams Classic RealtyWell, winter is over so that must mean it is our other season in Minnesota, road construction. The next 2 years in Anoka and the following 2 years in Ramsey promise to be slow going to say the least. Good news though, once this project is done, there will no longer be any stop lights on highway 10 in Anoka or Ramsey. Meanwhile however, the pain begins shortly. Starting in April, from 7th Ave to Thurston, Highway 10 will be down to one lane. This year they will be removing the 4th Ave bridge and old railroad bridge and replacing those with a single bridge. The bridge over the Rum river will be half replaced. The bridge over Main St will also be half replaced. Then n... 03/10/2022