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 […]

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 FHA Loan Limits 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% […]

Heat Wave equals Minneapolis Water Parks

Heat Wave = Free Entrance to Minneapolis Water Parks

Minneapolis Water Parks Just one more reason to love Minneapolis. Heat Wave = Free Entrance to Water Parks. Thank you Minneapolis! Even if it’s not a heat wave, Water Parks are a fantastic way to cool down in the summer. From the City of Minneapolis: ‘MPRB’s two water parks, Jim Lupient Water Park and North […]

1 Percent Down Payment - With Equity

Buy a Home with just 1% Down? Yes with the 1% Down Mortgage!

1% Down Mortgage Buy a Home with 1% Down! You have 1%, the lender contributes 2%, giving you 3% Equity at closing-Available w/No monthly Mortgage Insurance! See more Down Payment Options – Including FHA vs. Conventional or Purchase your home with just 1% MLS Mortgage Group is excited to offer the Conventional 1% Down (with Equity!) loan program […]

15 Year Mortgage Rates

REALTOR ® asks for 15 Year Mortgage Rates

REALTOR ® asks 15 Mortgage Lenders for 15 Year Mortgage Rates – Here’s what happened: I have to admit, we don’t go around calling other mortgage brokers to check their rates. That would be awkward. ‘Uh, hi, we’re another Mortgage Broker and I was just wondering how we compare to your mortgage rates.’ It just doesn’t happen. […]

15 Year Mortgage Rates Challenge Rules

15 Year Mortgage Challenge – The Rules

15 Year Mortgage Challenge – The Rules With Mortgage Rates as low as they are, we thought it would be a good time to create a 15 Year Mortgage Challenge. Would you be able to slash at least 5 off your loan term by refinancing to a 15? Here are the rules: Monthly payment must be the […]