Mortgage Insurance MI

Mortgage Insurance – Who needs it?

Who needs Mortgage Insurance? If you’re buying a house with less than 20% down payment, the answer is YOU. Mortgage Insurance is often abbreviated in the industry as “MI”. Some conforming home loans with less than 20% down do offer “No MI” or Lender-Paid MI. That option can be advantageous if you only plan to be […]

How much is a down payment on a house

How Much is a Down Payment on a House? – Do you have enough?

How much is a down payment on a house? That varies whether you are a First Time Home Buyer, repeat buyer, or qualify for any unique loan programs. For many people, the minimum is 3% of the purchase price with a Conventional Loan (up to your Conforming Loan Limits) or 3.5% for a FHA Loan […]

Low Down Payment Mortgage Options - FHA Loan vs Conventional Loan

Low Down Payment and First Time Home Buyer Programs 2019 Edition

100% FHA! Conventional 1% down mortgage + 2% down payment assistance! What are Low Down Payment, First Time Home Buyer Programs 2019? First Time Home Buyer Programs 2019 Edition What are the low down payment mortgage and first time home buyer programs available in 2019? VA still offers 100%, zero-down financing. But what if you’re not […]

FHA Loan Limits 2021

FHA Loan Limits MN 2021 – Updated!

FHA Loan Limits MN FHA loan limits are one of the FHA Loan Requirements : Related: Low Down Payment Mortgage Options – Conventional vs. FHA 2021 showed an increase in the Twin Cities Metro area for Single Family Homes, Duplexes, Triplexes, and Fourplexes – Median Home Sales Prices have increased in 2021 for Minneapolis and […]

fha 100 down

FHA 100% – 0 Down Payment!

FHA 100% financing is currently unavailable. We will provide updates (if/as) the industry changes. FHA 100% If our 1% down payment + 2% lender contribution Conventional financing doesn’t work for you, it’s worth exploring our FHA 0% down option. No down payment required! FHA 100% program details – unlike other first time home buyer programs: […]

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 […]

how much house can I afford max qualify 5 worksheet

Conventional, FHA, VA or USDA?

It can be difficult to navigate the myriad of home loan options available today. Especially when different Mortgage Companies offer different mortgage programs. We just added a ‘How Much House Can I Afford Worksheet’ to our guide to help home buyers explore their home financing options. They can compare their personal budget versus Conventional, FHA, VA […]