fbpx
  • Tel: (651) 552-3681
    Email: joe@joemetzler.com

  • First Time Home Buyer Programs in MN, WI, and SD

    Tired of Renting?  Want to Finally Buy A Home of Your Own?

    Down payment assistance programs in MN | Home Buyer ClassesChoosing the right Loan officerApply |

    The term First Time Home Buyer is a catch all phrase that simply means if you have never owned a home previously, or you haven't owned a home in the last three-years, you may qualify for a little something special in your home loan.

    • A slightly lower interest rate
    • A smaller down payment requirement
    • Cheaper mortgage insurance
    • Down payment assistance

    It is the dream of everyone to own their own home. Many potential home buyers in the Minneapolis, St Paul, Duluth, Rochester, Madison, Milwaukee areas, and throughout all of Minnesota, Wisconsin, and South Dakota who think they can't, actually CAN qualify for a great home loan, with great mortgage rates, on a mortgage loan program right for them!

    If you’re like many renters, you rent because you THINK you can’t afford a home. Maybe you don’t have down payment money, or you think you simply won’t qualify for a loan. To make matters worse, you feel trapped within the walls of a house or apartment that doesn’t feel like yours.  How could it when you’re not even permitted to bang in a nail or two without a hassle!  You feel like you’re stuck in a renter’s rut with no way of raising up and out of it and owning your own home.

  • Basic Requirement To Qualify For Any Home Loan

    Home sold

    Purchasing a home for the first time is truly one of life’s milestones. Home ownership is a worthy goal, and thanks to a variety of available financing options, it is a goal that is now in reach for more people. Today’s low mortgage rates make this a historically attractive time to buy, and new loan programs have helped to make the home loan application process simpler than ever before.

    Like any important goal in life, home ownership is a substantial responsibility, and there are a number of critical steps necessary to make the dream of buying that first home a reality. Mortgage lenders want to know that if they give you a loan, that you are likely to pay it back. Therefore all lenders will be looking for all mortgage loan applicants to meet some basic requirements:

    Credit: Your previous pattern of how you handle credit it very telling of how you'll likely handle credit in the future. Excellent credit opens doors, while bad credit closes door.

    Stable employment:  Job stability is important. We want to know you will be able to hold a job and make the payments. A recent job change doesn't really mean anything, but if you've had 5 jobs in the last year is a different story.

    Income: How much do you make determines how much of a house payment, and hence, how much house a lender will let you buy.

    Down payment: Big down payment, little down payment, or no down payment? Those with more skin in the game are proven to be lower risk than those with little to no down payment

    Reserves: How much money do you still have in the bank after buying the home. Those with the proven ability to save are lower risk.

    Get Approved - It's Easy

    The mortgage process can feel a bit overwhelming. The prospect of home ownership is clearly rewarding; however, the process of applying for a home loan and selecting a property can seem daunting – especially for first-time buyers. It really isn't. We will answer all your questions, and assist consumers in navigating the details of the home loan application.

    While everyone’s individual financial situation varies, you need to make sure are pre-approved BEFORE you start looking at homes or talking to Real Estate Agents so you don't waste time looking at homes you can't buy or can not afford.

    It all starts with Applying For Your Loan with our FREE NO COST one hour home loan decision system!

    Once you have applied, we will walk you through all your options, and make sure you know What To Expect, although the actual approval process is fairly straight forward. Plus, if you need or want to attend a first-time home buyer class in MN, we can help you with that too!When we are done, we will issue you a "pre-approval" letter, and put you in contact with a qualified, real estate professional who will help you find, negotiate, and close on your dream home. Many people go from renter to owner in as little as 45 days!

    We have countless first time home buyer success stories on file... Let us make YOU our next one!

    1. Apply online for a first time home buyer program - or Call (651) 552-3681
    2. Submit your documents (W2's, pay stubs, bank statements, tax returns)
    3. Loan review with Loan Officer -
    4. Get Pre-Approval
    5. Start looking at homes for sale with Realtor
    6. Make an Offer
    7. Go through final underwriting (updated pay stubs, etc)
    8. Loan is Clear-to-Close
    9. Sign paper work, Get your Keys!
    10. Enjoy your new home
  • Rent versus Buy - STOP Renting

    Renting versus owning is a common question. Almost without fail, owning almost always work out better. The only usual exception is if you plan on living in the home just a short period, like under 3-years. In that case, renting is probably best.

    So start building your financial future, and get all your home owner tax benefits! We can show you how you'll be able to afford a home sooner, and you'll probably be able to afford more home than you think!

    Buying a home is something we all dream about, usually for years. You may not have been able to save for a down payment, and therefore figured you could not buy a home.

    For some, bad credit has been the problem, but for most, a lack of down payment money is usually the issue.

    But most people don't need a lot for down payment. Between true zero down payment program (like USDA loans and VA loans), and down payment assistance, many people can buy their first home with a minimum of $1,000.  Yup, just $1,000 out-of-pocket.

    Even if you are just starting to think about buying a home, call our first time home buyer program loan experts at (651) 552-3681, or fill out a quick online loan application 24/7. In about 10 minutes over the phone, we can tell you what programs you might qualify for, how much house you can afford, and how much money you'll need to make it all work. This service is absolutely FREE and takes just minutes. You have nothing to lose - except the chance to own your own dream home!

    So call now, because the call could be your first step in becoming a homeowner.

    THE BOTTOM LINE: It isn't as scary as you think. If you want to buy a home, we probably have a program that will work for you. There are no costs or obligations to apply for great home loans and low mortgage rates on your first time home buyer loan in Minnesota, Wisconsin, and South Dakota

  • I've helps thousands, and I can help you too

    I have helped hundreds of local renters get out from under their landlord’s finger, and move into a wonderful home of their own!

    Stop wasting thousands of dollars on rent. Apply right now, and be in your own home next month!

    We specialize in helping first-time homebuyers of all kinds who have demonstrated that they are a worthy to own a home. For example, if you are comfortably paying rent, have OK credit, and have one year of rental history, you very well could be a homeowner.

    Choosing the Right Loan Officer to help You.

    There are Loan Officers everywhere.  Banks, Mortgage Brokers, and Mortgage Companies.  Only 10% of the success of your mortgage experience is based on the company you choose, and 90% of the success is the Loan Officer you choose. To emphasize this point, understand that just 20% of Loan Officers are actually licensed, having taken schooling, passed State and Federal testing, and more. The other 80% of Loan Officers are simply registered mortgage application clerks. Do you want an application clerk, or a fully licensed Loan officer helping you?

    Here at Mortgages Unlimited, all of our Loan Officers are fully licensed, and average over 15-years experience.Your real estate agent will likely try sending you to their friend or co-worker to get pre-approved. But is this really the right person. Don't feel pressured to use the Real Estate Agents person, and ALWAYS get a second opinion on your mortgage loan.

  • MN Down Payment Assistance Programs For First Time Home Buyers

    Down payment assistance is a popular request, but there are also two programs that do not require a down payment.

    1. VA Loan: Current and former U.S. Military can apply for a no down payment VA Loan
    2. Rural Residents: Looking to buy a home in a rural area. The USDA Rural Housing Loan does not require a down payment.

    Lack of down payment money is the #1 reason people don't buy a home. The next reason is poor credit.

    Down payment assistance programs can be used in combination with first time home buyer programs to buy a home come in a variety of forms including interest free government loans, and grants.

    You can also use money from your retirement account (like a 401k), and everybody’s favorite, getting help from your family.Having your own money for down payment is always best, but if you have limited funds, grants and down payment assistance programs are available. They vary greatly by city, county, state, and federal rules, along with the property location.

    Many assistance programs are offered by non-profit organizations funded by federal and state governments as incentives for homeowners to purchase in a particular area or city.

    Below if a small list of some grant programs, and assistance programs in MN.

    Our favorite down payment assistance program in MN is the Start Up Program, made available through our partnership with the Minnesota Housing Finance Agency. Read the Start Up Down Payment Assistance Guidelines

    Apply Online right now so that one of our professional Loan Officers can see which down payment assistance program in MN, WI, or SD is best for you.The source of a down payment on your Minnesota, Wisconsin, or South Dakota home loan may have implications on your overall financing options. Therefore make sure you have your loan officer involved early on when reviewing down payment options. We would be glad to help you with this process and any questions you may have along the way.

  • Call or Schedule an Appointment

    Call a Licensed Loan expert at (651) 552-3681. Speaking with a live experienced, and licensed Loan Officer is easily the best way to apply, and to determine what first time home buyer program you qualify for. You can also make a telephone or in-office appointment - Which ever work best for you.

    Make appointment

  • APPLY ONLINE

    Our Secure Online Mortgage Application is available 24/7. Mortgages Unlimited does not charge an application fee to apply, and we will only move forward with your permission.Small list of some of the available Minnesota first time home buyer programs.This list is NOT all inclusive. Please contact the number listed for more information, then APPLY ONLINE to get started. 

    Apply Online

  • List of Popular Minnesota First Time Home Buyer and Down Payment assistance Programs

    Many first time home buyer programs and down payment assistance programs are first come, first serve with limited funds. While we try to keep this list up to date, please let us know if any program listed here is no longer available, or of any program you know about that should be added to this list.

    • Alexandria City Homestead Assistance Program (CHAP) (320) 762-1311
    • Alexandria Greater Minnesota Housing Fund The Trails Development Gap Financing Program (GAP) (651) 221-1997
    • Alexandria HRA Down Payment Assistance Program (DPAP) (320) 762-1311
    • Alexandria MHFA Gap Financing Program (GAP) (320) 762-1311
    • Austin/Mower County Homeownership Fund Program (507) 864-7741
    • City Living Program - City of St Paul and Minneapolis
    • Chaska Clover Ridge Owner Occupied Assistance Program (OOAP) (952) 448-2851
    • Dakota County First Time Buyer Program - Multiple programs (651) 675-4400
    • Dakota County First Time Home Buyer Program with down payment assistance
    • Duluth Neighborhood Housing Services "Homeownership Program with Employers" in Lincoln Park Grant (HOPE) (218) 727-8604
    • Duluth Neighborhood Housing Services of Duluth Homeownership Incentive Program (HIP) (218) 628-1057
    • Duluth NHS/Hillside Homeownership Incentive Program (HIPP) (218) 628-1057
    • East Grand Forks Downpayment Assistance Program (218) 773-2371
    • East Grand Forks New Construction Incentive (NCI) Program (218) 773-2371
    • Elliot Park Neighborhood Improvement, Inc. Homebuyers Assistance Program (612) 335-5885
    • Hutchinson Housing & Redevelopment Authority Down Payment Assistance Program (DPA) (320) 234-4451
    • Itasca County/Koochiching County KOOTASCA Community Action's Homebuyer Program (HBP) (218) 326-8539
    • Mankato Homeownership Program (HOP) (507) 387-8622
    • Mankato Revolving Loan Fund (RLF) (507) 387-8622
    • Minneapolis Equity Participation Loan Program (EPL) (612) 673-5289
    • Minneapolis Folwell Neighborhood Association First Time Home Assistance Program (FTHP) (612) 588-3033
    • Minneapolis Hawthorne Homestead Program (HHIP) (612) 339-0601
    • Minneapolis/MCDA Closing Cost Loan Program (CCL) (612) 673-5289
    • Minnesota Housing Finance Agency - MHFA. The Start Up program first time home buyers, and Step Up program for move up home buyers.
    • Multi Cities Tri-County Actions Programs, Inc. Homeowner Gap Financing Program (GAP) (320) 255-0705
    • Multi Counties Arrowhead Economic Opportunity Agency Inc
    • Homeownership Opportunity Program (HOP) (800) 662-5711
    • Multi Counties Headwaters Housing Development Corporation Two Note Program (TNP) (218) 444-4732
    • Northfield Housing Assistance Program (NHAP) (507) 645-8833
    • Pennington County Affordable Housing Program (AHP) Community Revitalization Fund Program (CRF) (218) 637-2431
    • Pennington County Affordable Housing Program (AHP) Loan Pool Funds (LPF) (218) 637-243
    • 1Pohlad Family Foundation - Minneapolis zip code 55411 and St. Paul zip code 55106. (651) 774-6995
    • Ramsey County First Time Home Buyer Grants Program (FBAP) (651) 266-8025
    • Red Lake County Affordable Housing Fund (AHF) Affordable Housing Loan Pool Fund (LPF) (218) 637-2431
    • Red Lake County Affordable Housing Fund (AHF) Community Revitalization Fund (CRF) (218) 637-2431
    • Rochester First Homes GAP Loan Program (GAP) (507) 281-7396
    • St Paul Community Neighborhood Housing Services, Down Payment Assistance Program (DPAP) (651) 292-8710
    • USDA Rural Development - Zero down payment loans for rural areas of MN, WI, and SD
    • Thief River Falls Slow Second Mortgage Program (SSMP) (218) 681-2500
    • Washington County First Time Home Buyer Grants Program (FBAP) (651) 266-8025
    • Woodbury - First Time Buyers and Foreclosure Buyers (651) 414-3438