LET US HELP YOU PICK THE CORRECT MORTGAGE LOAN
a Loan Program:
Many first time buyers are told by their
Realtor, friends, family members, or read online about a program
they think is good for them, or they may qualify for. They may
be right... But we think it is prudent to let our highly
trained, and licensed Loan Officer review your full information,
then professionally zero in on the best programs for your
loans are federally insured loans that allow buyers who have little or no credit
history, coupled with limited funds available for down payment, to obtain a
mortgage with a great interest rate and low monthly payments. FHA home loans are
also available for first time buyers. FHA Loans are assumable and streamline, no
refinance to a lower the interest rate is always available.
VA loans are zero down payment, 100% financing, of course only for active and
former military personal with a VA Certificate of Eligibility are able to
qualify for this loan. In addition to no down payment, VA home loans have the
added benefit of not requiring PMI (private mortgage insurance), which amounts
to a HUGE savings over other loans. VA mortgage loans are guaranteed by The
Department of Veterans Affairs, but are made by private lenders to eligible
veterans for the purchase of a home. VA loans offer up to 100% financing on the
value of a home.
USDA Rural Development Loans:
Rural home loans are optimal for
first time homeowners in approved Rural Housing Service areas.
USDA rural housing loan programs allow qualified homebuyers to
get loans with minimal closing costs and no down payment. The
purpose of this loan program is to enable eligible low and
moderate income (up to 115 percent of the Area Median Family
Income) rural residents to acquire modestly priced housing for
their own use as a primary residence. The Rural
Development Housing Loans also have flexible credit standards,
expanded qualifying ratios, no maximum purchase price limits and
generous income limits. Closing costs can be rolled into the
loan amount up to 100%
of the appraised value (not
the purchase price).
MHFA - The
Minnesota Housing Finance Agency programs.
Down payment assistance for those who
qualify, Up to $10,000 is assistance available, but most
people who qualify get between $3000 - $5000 of assistance for
closing costs and down payment. There is a maximum loan amount,
and family income limits to consider whenever getting government
Fill out an application, and we will quickly determine if
for Fannie Mae foreclosures. Buy these
homes with as little as 5% down, Just 10% down for
investors. No appraisal needed. No mortgage
insurance. Contact us for more details and a list of HomePath homes for sale.
Our regular everyday loan. Available in fixed or adjustable,
and any loan term from 8-years to 30-years, with the 30-year
fixed being the most popular. Requires at least 5% down payment.
Also available for buying or refinancing second homes and
Refinancing your existing loan is popular for not just lowering
your payment, but also shortening your remaining term. For
example, you have 24-years left, and you refinance to a new
10-year loan. FHA and VA both offer a streamline refinance
with reduced documentation, and the possibility of no appraisal,
so lost value isn't an issue. We also offer the very
popular HARP Refinance program. This allows home owners
with a Fannie Mae or Freddie Mac loan to refinance REGARDLESS of
how much their home has lost value or if it is even underwater.
No down payment home loans
development, and the VA Loan are truly zero down payment.
But many times we can combine a regular FHA loan with a down
payment assistance program to get many people zero down payment,
or needing just a little down payment. A very popular
option is the MHFA Start Up program. This program let's most
modest families buy a home with just $1,000 out-of-pocket
After determining the right
mortgage loan for you and your family, we will be happy to work
and and provide you a written Good Faith Estimate showing you
all your closing costs, interest rate, etc, so that you have no
worries about surprises later on.
VA, USDA, and FHA
We are an approved Minnesota and Wisconsin
lender for VA Loans, USDA Rural Development Loans, and FHA
loans. While we are an
approved lender for these programs, we are not part of HUD, FHA, The United States
Department of Agriculture, or the Department of Veteran Affairs. We are not acting on
behalf of, or under the direction of HUD/FHA or the Federal
Government. FHA and VA do not lend directly to the public, only through
approved lending institutions like Mortgages Unlimited, St Paul, MN