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Homeownership Is Still the American Dream. We make it possible with FHA or Minnesota's MHFA First Time Home Buyer Mortgage Programs (Minnesota Housing Finance Agency)
We are proud to make YOUR home buying dreams come true!
Owning your own home is a goal most Americans continue to strive for, but in today's economy many families are wondering if things have changed. Just a short time ago everyone agreed that it was a seller's market, yet buyers were everywhere hoping to get on the bandwagon while prices were appreciating at double-digit rates.
Today that has all changed.
The sellers market has turned into a buyer's market. So where are
all the buyers? Mixed messages from the media, concerns about home
loan financing and the mortgage industry, and fears about selling an
existing home have all played a part in drying up the real estate
market.
This is leaving some pretty amazing deals - especially for first time buyers! Homeownership is still a great choice for most families today, and those buying today will look like a genius a few years from now.
Looking for a home loan in the Twin Cities area? Search the entire MLS for FREE!
When you decide to buy a home or refinance a mortgage in Minneapolis, St. Paul, or the surrounding areas, your search for a home loan or mortgage should start and end here. With so many lenders to choose from in the greater metro area, and nationally, you need to choose one you can trust to find the mortgage loan that’s best for you. Plus, as a Home Buyers Scouting Report Preferred Lender, you have access to the most amazing home search tool for FREE.
But the bottom line is that homeownership is still a great choice for many, many families today. Let us show you how!
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MHFA
Minnesota Housing Finance Agency
Benefits of MHFA (Minnesota Housing Finance Agency) State Assistance Mortgage Loans
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Below-market interest rates
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Interest-free loans to help with down payment and closing costs as well as monthly payments.
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No extra fees or discount points
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30-year fixed (Option of a 40-year term under the CASA program)
FOUR Mortgage Loan Programs
Basic Program Guidelines
To be eligible for a Minnesota Mortgage Program loan you must:
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Be a first-time homebuyer*
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Have federal income tax return copies for the last 3 years.
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Have acceptable credit.
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Attend Home Buyer Education Classes (Call for "Home Stretch" class dates, times, and sign-up information). Note, class is NOT required for all MHFA programs, but highly recommended.
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Have an income at or below prescribed MHFA limits and want to buy a qualifying home.
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NOTE: If the home you want is more expensive, or your income is above the limits, you still have plenty of options with other loan products such as "USDA Rural Development", "FHA Loans", "VA Loans", and more. Call for details!
Borrowers qualify for HAF assistance is they meet one of the following criteria;
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Eligible for CASA program
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Single headed household
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Household of color or Hispanic ethnicity
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Household contain person(s) with disabilities
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Borrowing purchasing in a low income tract
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Household earns less than 60% of medium income
Interest free HAF loans are paid back when the homeowner sells, refinances, no longer occupies the home or pays off the first mortgage.
Homeownership Assistance Fund and Minnesota Urban and Rural Homesteading (State Funded) Program Income Limits
First Time Homebuyers who are qualified for one of the Minnesota Housing First-time homebuyer programs (Minnesota Mortgage Program, Community Activity Set Aside or Urban Indian Housing Program) can use the charts below to determine if they also qualify for the Homeownership Assistance Fund (HAF).
MMP Program Borrowers at or below the following household incomes representing 60% of Median Income qualify for HAF. These limits also apply to the Minnesota Urban and Rural Homesteading (State Funded) Program. Income limits are based on HUD median family income estimates and calculated at 60% of the greater of state or area median income:
CASA and Targeted MMP Borrowers must meet the program income limits for First-time homebuyer programs to use the Homeownership Assistance Fund at or below the following state or area median household incomes:
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For MHFA loan
purposes, first time homebuyer is
defined as anyone who has not owned a
home or an interest in a home in the
past three years.
33 Wentworth Ave E
(651)
552-3681
Our
services available only for properties located in
Minnesota and Wisconsin.
PLEASE DO NOT KEEP US A SECRET from your FRIENDS.
Licensed as
Mortgages Unlimited, Inc.
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 Copyright © 1998-2010. Metzler
Enterprises, LLC. All Rights Reserved.
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