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To apply for a Dakota County First Time Homebuyer Loan, just apply online. We will review your income, credit, and overall picture to determine whether or not you will qualify for this, or any other first time home buyer program in Minnesota.
It is important that you know not all lenders are able to do the Dakota County First Time home buyer Program. We are proud to be a provider of many of these loans, including the Dakota County First-time home buyer down payment assistance program.Knowing your full exact situation will help us determine if a government assistance loan programs are right for you. Being pre-approved also gives you ultimate buying power and the upper hand in negotiating.
Down payment & Closing Cost Assistance Program
In addition to grant assistance, income eligible buyers may access down payment and closing cost assistance loans of up to $10,000. These loans are zero interest, deferred loans that are paid back at the end of the 30-year mortgage term or when the home is sold or refinanced. Eligibility is based on the buyer's gross household income adjusted for family size and the successful completion of a Housing Quality Standards Inspection.
Basic Loan Requirement
Credit Score requirements
Debt ratio requirement
Household income - includes income of applicants, spouses, and persons expected to be living in the home
House price limits
Co-signers (not to be confused with co-owner)
Home Stretch � Homebuyer Education Program
The Home Stretch Program teaches potential homebuyers about the entire home buying process and the responsibilities of homeownership. Topics covered in these monthly seminars include: Budgeting and Credit Issues, Financing and Qualifying for a Home, Shopping for a Home, The Purchase Process, Closing on a Home and Life as a Homeowner.
Home buyer education is taught by professionals in the home buying field. Home Stretch is a nine-hour course that is held monthly. Either over three days from 6 to 9 p.m. each night, or an all day Saturday class. Participants must attend all three nights or the single all day session full day to complete the course. The cost to attend is $15 per household for Dakota County residents and $25 per household for non-residents.
FRAMEWORK is a high quality, fun way to learn how to be a smart, confident, and successful homeowner. It provides the facts you need to become well-informed about every step in the process. Many lenders have approved Framework to meet their requirements for homebuyer education. Check with your Loan Officer to make sure online homebuyer education is accepted. This online class costs $75.00
Visit FRAMEWORK Website to get started with the ONLINE class
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33 Wentworth Ave E - Suite 290
My services available only for properties located in Minnesota, Wisconsin, and South Dakota. PLEASE DO NOT KEEP US A SECRET from your FRIENDS. Licensed as Mortgages Unlimited, Inc. NMLS # 205504. Joe Metzler NMLS # 274132. As a Lenders One partner, we are part of the 3rd Largest Retail Mortgage Originators in the country. We are consistently ranked as one of the top mortgage lenders in Minnesota by Minneapolis St Paul Business Journal. Any use or duplication of any materials is strictly prohibited. All images, text, and materials © 1998 - 2017 Joe Metzler. This is the private web site of Joe Metzler, NMLS #274132. All Rights Reserved.