Archive for the ‘home ownership in the Twin Cities’ Category
Affordable Mortgages! The Latest News!
Quick Facts about MN Housing
Down Payment Assistance Programs
Down Payment Assistance available for First Time Homebuyers
in the 11 County Metro Area.*
Minnesota Mortgage Program (MMP)
Assistance available up to $3000.
Current Yearly gross income limit of $83,900 for 1-4 persons.
(Single Family Home Income Limits)
CASA (Community Activity Set Aside)
Assistance available up to $5000.
Yearly gross income limit of $67,200 for 1-4 persons.
(Single Family Home Income Limits)
HOME HELP
Assistance available up to $7,000
Yearly gross income limit of $44,800 for 1 person.
(Income limit adjusts as household size increases. Single Family Home Income Limits).
Affordable Advantage
100% financing. No Mortgage Insurance. 680+ credit score.
Minimum of $1000 of borrower’s own funds.
3% seller contribution.
Current Yearly gross income limit of $83,900 for 1-4 persons.
*All programs require final loan approval with an FHA or a Conventional loan program. Borrowers must meet MN Housing target borrower requirements. (6/23/2010)
Please call me with any questions:
Nancy Uppgren
651.247.1718
Written by nannersu
September 15, 2010 at 4:29 pm
Posted in contracts for deed, credit rating to own a home, home buying process, home inspections, home ownership, home ownership in the Twin Cities, homes for rent in Mahtomedi School Distrct, Homes for rent in St Paul area, Homes for rent in the Twin Cities, Homes for rent in Washington County, homes for rent in White Bear Lake, homes for sale in Dellwood, homes for sale in Grant, homes for sale in Lake Elmo, homes for sale in Mahtomedi, homes for sale in Pine Springs, homes for sale in St. Paul, homes for sale in the Twin Cities, Homes for sale in Washington County, homes for sale in White Bear Lake, Homes in Dellwood, homes in Mahtomedi school district, homes in Mahtomedi school district, homes in St. Paul MN, homes in the Twin Cities, houses for sale in Dellwood, houses for sale in Grant, houses for sale in Lake Elmo, houses for sale in Mahtomedi, houses for sale in Pine Springs, houses for sale in White Bear Lake, how to own a home, mahtomedi school district, MN, Real Estate, real estate for sale in Dellwood, real estate for sale in Grant, real estate for sale in Mahtomedi School District, real estate for sale in North Oaks, Rent to Own in Minnesota, rent to own in the Twin Cities, rental property in the Twin Cities, shore sales in Mahtomedi School District, short sales in Mahtomedi, staging homes, stucco inspections, Uncategorized
Tagged with dellwood, grant, homes, mahtomedi, north oaks, white bear lake
Money for first time homebuyers
Minnesota Housing Mortgage Loan Programs
What do our programs have to offer first-time homebuyers?
Mortgage loans to purchase a home through local lenders for qualified low and moderate income first-time homebuyers in Minnesota
30-year loans with affordable, low, fixed interest rates for the life of the loan
Interest-free loans to help with downpayment and closing costs for eligible borrowers
You may be eligible for a Minnesota Housing mortgage if you:
Are a first-time homebuyer, meaning you have not owned a home in the past three years,
Have federal income tax return copies for the last three years,
Have acceptable credit,
Have an income at or below prescribed Minnesota Housing income limits
For basic first-time homebuyer program for a family of four, income limits are as follows:
11-County Twin Cities Metro Area – $84,000
Rochester MSA – $77,600
Balance of State – $73,100
Buy a qualifying home within prescribed purchase price limits as follows:
11-County Twin Cities Metro Area – $298,125
Balance of State – $237,031
Contact a Lender
Minnesota Housing partners with lenders across the state to provide our loan products to consumers. To learn more about which Minnesota Housing program is right for you, and to see if you qualify, please contact a local participating lender.
nancyup.com
Written by nannersu
September 1, 2010 at 5:31 pm
Posted in contracts for deed, credit rating to own a home, home buying process, home inspections, home ownership, home ownership in the Twin Cities, homes for rent in Mahtomedi School Distrct, Homes for rent in St Paul area, Homes for rent in the Twin Cities, Homes for rent in Washington County, homes for rent in White Bear Lake, homes for sale in Dellwood, homes for sale in Grant, homes for sale in Lake Elmo, homes for sale in Mahtomedi, homes for sale in Pine Springs, homes for sale in St. Paul, homes for sale in the Twin Cities, Homes for sale in Washington County, homes for sale in White Bear Lake, Homes in Dellwood, homes in Mahtomedi school district, homes in Mahtomedi school district, homes in St. Paul MN, homes in the Twin Cities, houses for sale in Dellwood, houses for sale in Grant, houses for sale in Lake Elmo, houses for sale in Mahtomedi, houses for sale in Pine Springs, houses for sale in White Bear Lake, how to own a home, mahtomedi school district, MN, Real Estate, real estate for sale in Dellwood, real estate for sale in Grant, real estate for sale in Mahtomedi School District, real estate for sale in North Oaks, Rent to Own in Minnesota, rent to own in the Twin Cities, rental property in the Twin Cities, shore sales in Mahtomedi School District, short sales in Mahtomedi, staging homes, stucco inspections, Uncategorized
Tagged with dellwood, grant, homes, mahtomedi, north oaks, real estate, white bear lake
Help for those whose house is worth less than their mortgage
FHA LAUNCHES SHORT REFI OPPORTUNITY FOR UNDERWATER HOMEOWNERS
Effort designed to encourage principal write-downs for responsible borrowers
WASHINGTON – In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development today provided details on the adjustment to its refinance program which was announced earlier this year that will enable lenders to provide additional refinancing options to homeowners who owe more than their home is worth. Starting September 7, 2010, the Federal Housing Administration (FHA) will offer certain ‘underwater’ non-FHA borrowers who are current on their existing mortgage and whose lenders agree to write off at least ten percent of the unpaid principal balance of the first mortgage, the opportunity to qualify for a new FHA-insured mortgage.
The FHA Short Refinance option is targeted to help people who owe more on their mortgage than their home is worth – or ‘underwater’ – because their local markets saw large declines in home values. Originally announced in March, these changes and other programs that have been put in place will help the Administration meet its goal of stabilizing housing markets by offering a second chance to up to 3 to 4 million struggling homeowners through the end of 2012.
“We’re throwing a life line out to those families who are current on their mortgage and are experiencing financial hardships because property values in their community have declined,” said FHA Commissioner David H. Stevens. “This is another tool to help overcome the negative equity problem facing many responsible homeowners who are looking to refinance into a safer, more secure mortgage product.”
Today, FHA published a mortgagee letter to provide guidance to lenders on how to implement this new enhancement. Participation in FHA’s refinance program is voluntary and requires the consent of all lien holders. To be eligible for a new loan, the homeowner must owe more on their mortgage than their home is worth and be current on their existing mortgage. The homeowner must qualify for the new loan under standard FHA underwriting requirements and have a credit score equal to or greater than 500. The property must be the homeowner’s primary residence. And the borrower’s existing first lien holder must agree to write off at least 10% of their unpaid principal balance, bringing that borrower’s combined loan-to-value ratio to no greater than 115%.
In addition, the existing loan to be refinanced must not be an FHA-insured loan, and the refinanced FHA-insured first mortgage must have a loan-to-value ratio of no more than 97.75 percent. Interested homeowners should contact their lenders to determine if they are eligible and whether the lender agrees the write down a portion of the unpaid principal.
To facilitate the refinancing of new FHA-insured loans under this program, the U.S. Department of Treasury will provide incentives to existing second lien holders who agree to full or partial extinguishment of the liens. To be eligible, servicers must execute a Servicer Participation Agreement (SPA) with Fannie Mae, in its capacity as financial agent for the United States, on or before October 3, 2010.
For more information, you may contact me at 651.247.1718 or by email at nancyup@kw.com. http://www.nancyup.com
Written by nannersu
August 11, 2010 at 4:30 pm
Posted in contracts for deed, credit rating to own a home, home ownership, home ownership in the Twin Cities, homes for rent in Mahtomedi School Distrct, Homes for rent in St Paul area, Homes for rent in the Twin Cities, Homes for rent in Washington County, homes for rent in White Bear Lake, homes for sale in Dellwood, homes for sale in Grant, homes for sale in Lake Elmo, homes for sale in Mahtomedi, homes for sale in Pine Springs, homes for sale in St. Paul, homes for sale in the Twin Cities, Homes for sale in Washington County, homes for sale in White Bear Lake, Homes in Dellwood, homes in Mahtomedi school district, homes in Mahtomedi school district, homes in St. Paul MN, homes in the Twin Cities, houses for sale in Dellwood, houses for sale in Grant, houses for sale in Lake Elmo, houses for sale in Mahtomedi, houses for sale in Pine Springs, houses for sale in White Bear Lake, how to own a home, mahtomedi school district, MN, Real Estate, real estate for sale in Dellwood, real estate for sale in Grant, real estate for sale in Mahtomedi School District, real estate for sale in North Oaks, short sales in Mahtomedi, Uncategorized
Tagged with dellwood, grant, homes, mahtomedi, north oaks, real estate, white bear lake
Did you (or someone you know) lose their home to the bank?
Everyone has their own opinion about the recent mortgage crisis. Some feel it was caused by greed, while others believed that the banks convinced people to do things they wouldn’t have typically done. Regardless of any one’s belief about what happened, the net result is that a lot of people lost their homes. And it is really sad.
Doug Kampsen and I may have a way to help these people. Doug is the Regional Manager of Lake Area Mortgage. He works with investors. I am a Realtor with Keller Williams. And I enjoy helping buyers. Many of the families who lost their homes had perfectly fine credit prior to the mortgage debacle. And those people are exactly the ones we can help.
Doug and I have a program that provides a second chance for these folks. Doug can be reached by email at:
dkampsen@lakeareamtg.com
Or, you can give him a call at 651.209.2914
Doug’s website is www.dougkampsen.com
Doug is a 28 year veteran of mortgage banking and he is incredibly capable. He can let you know if you qualify for a program that works with you and an investor to get your life back on track.
Or, if you prefer, I would be happy to talk to you. My contact information is:
Nancy Uppgren
Keller Williams Premier Realty
651.247.1718
nancyup@kw.com
I would really like to help families get back on track and into a home again. Almost every day I see people who love their homes almost as much as they love their children. And it is heartbreaking to see them lose their homes, sometimes even through no fault if their own.
If you want more information about this program, please give Doug or me a call and perhaps we can help you turn your life back around.
Thank you.
Written by nannersu
July 26, 2010 at 4:35 pm
Posted in contracts for deed, credit rating to own a home, home buying process, home inspections, home ownership, home ownership in the Twin Cities, homes for rent in Mahtomedi School Distrct, Homes for rent in St Paul area, Homes for rent in the Twin Cities, Homes for rent in Washington County, homes for rent in White Bear Lake, homes for sale in Dellwood, homes for sale in Grant, homes for sale in Lake Elmo, homes for sale in Mahtomedi, homes for sale in Pine Springs, homes for sale in St. Paul, homes for sale in the Twin Cities, Homes for sale in Washington County, homes for sale in White Bear Lake, Homes in Dellwood, homes in Mahtomedi school district, homes in Mahtomedi school district, homes in St. Paul MN, homes in the Twin Cities, houses for sale in Dellwood, houses for sale in Grant, houses for sale in Lake Elmo, houses for sale in Mahtomedi, houses for sale in Pine Springs, houses for sale in White Bear Lake, how to own a home, mahtomedi school district, MN, Real Estate, real estate for sale in Dellwood, real estate for sale in Grant, real estate for sale in Mahtomedi School District, real estate for sale in North Oaks, Rent to Own in Minnesota, rent to own in the Twin Cities, rental property in the Twin Cities, shore sales in Mahtomedi School District, short sales in Mahtomedi, staging homes, Uncategorized