Frequently Asked Mortgage Questions

Do you have mortgage questions?

Discover answers to some frequently asked questions, industry updates, and other relevant news. If you can't find answers to your real estate and mortgage questions here, please ask us!.

Frequently Asked Mortgage Questions (FAMQ's):

How much house can I afford?

How Much House Can I Afford? Insider Tips and Home Affordability Calculator

Affordability is based on: your monthly mortgage payment + other monthly payments = <36% of your gross monthly income. Mortgage lenders will often approve higher; qualified mortgages allow up to 43%. Calculate how much house you can afford with a home affordability calculator. ‘How Much House Can I Afford?’ (The Definitive Guide) Updated with 2017 Industry […]

Low Down Payment Mortgage Options - FHA Loan vs Conventional Loan

2017 Low Down Payment and First Time Home Buyer Programs

100% FHA! Conventional 1% down mortgage + 2% down payment assistance! What Low Down Payment, First Time Home Buyer Programs is best? What are the low down payment mortgage and first time home buyer programs available in 2017? VA offers 100%, zero-down financing. But what if you’re not a Veteran? USDA RHS offers 100%, 0 down […]

First Time Home Buyer Class Minneapolis

First Time Home Buyer Class Minneapolis -Newest Mortgage Programs

First Time Home Buyer Class Minneapolis Mortgage Financing: An In-Depth Look at The Newest Programs   About the First Time Home Buyer Minneapolis Class: This class is located at Lake Harriet Upper School in South Minneapolis, MN. In the class, you’ll discover the newest mortgage financing options available in today’s market in a classroom setting. The […]

First Time Home Buyer Class MN – Upcoming Class Dates!

First Time Home Buyer Class MN First Time Home Buyer Class MN Upcoming First Time Home Buyer Classes in Minnesota: Please click on the Class Name for More Information and to Register for the First Time Home Buyer Class MN: Monday, October 9th, 2017 – Mortgage Financing: An In-Depth Look at The Newest Programs (Lake Harriet) […]

Questions to Ask Your Home Inspector during your Home Inspection

6 Questions to Ask Your Home Inspector during Home Inspection

6 Questions to Ask Your Home Inspector During Your Home Inspection by Guest Author – Kris Lindahl Getting a home inspection is very important. It can protect you from purchasing a home that has a lot of problems, or that costs more than it should, based on its issues. Sometimes home inspectors miss things, but […]

10 mortgage mistakes to avoid

Careful! Watch out for these Top 10 Mortgage Mistakes

Top 10 Mortgage Mistakes to Avoid! Do you want a successful, timely closing? Mortgage mistakes can be costly! Once you apply for a Mortgage, there are 10 things that you should be careful not to do during the mortgage process (or risk your loan not closing on time or at all!) When possible, try to avoid these mortgage mistakes: […]

Open Houses in Blaine MN

Open Houses in Blaine MN – February 2017

Open Houses in Blaine MN Looking for something to do? What better way to spend your time than looking at houses! Below are the upcoming Open Houses in Blaine, MN: View Pictures of the Open Houses in Blaine MN 4509 121st Avenue NE , Blaine, MN 55449 $479,900 2/8/2017 2:00 PM – 5:00 PM 4527 121st […]

Home Appraisal vs Home Inspection

Home Appraisal vs Home Inspection – What’s the Difference?

Home Appraisal vs Home Inspection What is the difference between a home appraisal vs home inspection? Are either required? This Real Estate Video features Dave Widell, REALTOR ®, with ReMax Advantage Plus. His office is located in Blaine, MN. Dave believes that your agent should be working for you, not their own bottom line. He can be […]

tax day tax deadline last day to file taxes

Tax Day 2017 – Ready or Not…

Tax Day 2017 Tax Day, love it or strongly dislike it, here it comes. This year, we have a few extra days to file, with a tax deadline of April 18, 2016 instead of the normal last day to file taxes of 4/15. Do you have to pay this year? If so, did you budget appropriately for that? […]

FHA lowering Mortgage Insurance January 2017

Is FHA lowering Mortgage Insurance? (Update)

FHA lowering Mortgage Insurance – Not Anymore… UPDATE! HUD previously announced on January 9th, they would lower FHA Mortgage Insurance. Information below for reference. Shortly after the new President was sworn in on January 20th, the Trump administration halted the MI reduction. Mortgage Insurance will retain their previous premiums per the January 20th, Mortgagee Letter. FHA […]

2017 VA Home Loan Limits MN Conforming Loan Max MN

Loan Max VA & Conforming Loan Limits

Loan Max – VA Loan Limits and Conforming Loan Limits Loan Max Updated for 2017 – VA Home Loan limits match Conforming Loan Limits. See VA Loan Benefits. Conforming Loans are considered any loans that are purchased by Fannie Mae and Freddie Mac that the loan max is under the below loan limits. Any loan amount […]

2017 VA Home Loan Limits MN Conforming Loan Max MN

FHA Loan Limits MN 2017 – Updated!

FHA Loan Limits MN FHA loan limits are one of the FHA Loan Requirements. Related: Low Down Payment Mortgage Options – Conventional vs. FHA 2017 showed an increase in the Twin Cities Metro area for Single Family Homes, Duplexes, Triplexes, and Fourplexes. Median Home Sales Prices have increased in 2017 for Minneapolis and Saint Paul […]

Zero Down, 100% Financing – USDA Loans from USDA Rural Development

USDA Loans USDA Loans are a popular option for home buyers desiring 100% Financing. Now, they’re are even better! Effective October 1, 2016, USDA Rural Development has announced they are reducing their fees: Reduction in the Upfront Guarantee Fee: the upfront guarantee fee for purchase and refinance transactions will decrease from 2.75% of the loan amount to 1.00% […]