‘How Much House Can I Afford?’ (The Ultimate Guide) Hey there, future homeowner! We’re here to help you unravel the exciting world of home buying, specifically answering the question: ‘How Much House Can I Afford?’ Our Home Affordability Calculator is like your personal compass, guiding you towards the house of your dreams without breaking the […]
Loan Max – VA Loan Limits and Conforming Loan Limits Loan Max Updated and Increased for 2021 – although the US Department of Veteran Affairs does not set a limit for VA Home Loans – most lenders do set limits and the VA Home Loan limits match Conforming Loan Limits. See VA Loan Benefits. Conforming Loans […]
USDA Rural Development Loans MN : Zero Down, 100% Financing USDA Home Loan from USDA Rural Development. USDA Home Loan The USDA Home Loan is a popular option for home buyers desiring 100% Financing. USDA Rural Development assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and […]
How to Be Offered the Best Mortgage Rates “Am I being offered the best mortgage rates?” As a Mortgage Loan Originator, I’ve had my share of that question. I also know it’s not a simple answer. Companies can’t guarantee they have the best mortgage interest rates. However, there are ways to improve your likelihood of being […]
24 Steps to Obtain the Lowest Rate BEFORE Applying for a Home Loan – The Ultimate Insider Guide (Complete with Resources!): How-To Shop Home Mortgage Lenders Save Tens of Thousands on Your Home Mortgage (Plus Bonus Home Loan Toolkit Download!) BEFORE you apply for a home loan and shop home mortgage lenders, review the guide below […]
Private Mortgage Insurance It’s easy to think of Mortgage Insurance as an unnecessary evil since it only protects the lender. Decide for yourself: Quick Facts Private Mortgage Insurance is required when you have a Conventional loan with less than 20% down payment. Abbreviations are often used in the industry: MI for Mortgage Insurance PMI for Private […]
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 […]
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: […]
VA Home Loan Are you familiar with the VA Home Loan Guaranty Program? I was shocked to discover (from a recent VA survey) that 1 out of 3 Veterans are not familiar with it. Only available to U.S. Veterans, the Federal Loan offers many benefits, including: No Down Payment Required! (100% Financing for Eligible Veterans) Favorable […]
How Much House Can I Afford? – Home Affordability Series What is Debt to Income Ratio? (DTI) The Summary: Debt to Income Ratio is your monthly debt payments divided by your gross monthly income (expressed as a %). In the case of a home purchase, you would also include your new proposed monthly housing payment […]
FHA Loan Limits MN FHA loan limits are one of the FHA Loan Requirements. Related: Low Down Payment Mortgage Options – Conventional vs. FHA 2016 showed an increase in the Twin Cities Metro area for Single Family Homes, Duplexes, Triplexes, and Fourplexes. Median Home Sales Prices have increased in 2016 for Minneapolis and Saint Paul […]
Loan Officer? Loan Officer used to be the most popular job title for a person that originates home loans. There was a problem though, each loan officer chose their job title (or the Mortgage Company chose for them). Common ‘Loan Officer’ job titles were: Loan Officer (Most Popular) Mortgage Loan Officer (Helpful to know they work with […]
