| Are you a good home buyer candidate? Find Out NOW! Learn the keys to homeownership by attending the Home buyers Club program offered by the Scott County Community Development Agency. If you plan to buy within the next 5 years this class is for you!!
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FINANCIAL LITERACY KEYS:
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HOME MAINTENANCE KEYS:
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Home buyers Club graduates may be eligible for a grant from the Scott County CDA of up to $7500 for down payment assistance.
To learn more about or to register for, contact Nichole at nichole@mnrealestateteam.com. |
August 2, 2009
March 26, 2009
New Guidelines for Investment Property Financing
With the recent changes made by Fannie Mae to the guidelines for Investment Property Financing, you may have some questions. Don’t worry, many people do!
According to Rob Bonahoom with Cornerstone Mortgage, here is the basics on how you can once again finance more than 4 properties, actually up to 10 investment properties!
~ 70 percent loan-to-value financing available.
~Minimum credit score of 720
~25% down payment requirement for a 1 unit property, 30% down for a 2-4 unit property
~reserves available equal to 6 months of payments covering the principle, interest, tax and insurance payments for each existing investment property
Fannie Mae has loosened the financing guidelines allowing investors to once again have mortgages on up to ten properties in hopes that this will allow the serious investors to help absorb some of the inventory on the market.
If you are in a position to take advantage of the buyer’s market, email me at nichole@mnrealestateteam.com and we can find you cash flowing investment property. With the low mortgage rates available, the strong rental market and the amazing value you can get on property right now, NOW is the time.
February 16, 2009
New Stimulus Package Information
With all the buzz about the new Stimulus Bill, it can be hard to cut through the hype to figure out what will actually affect home ownership.
Alec Grebis with Cornerstone Mortgage Company and Steve Howe with The Minnesota Real Estate Team will be presenting a free seminar this Thursday. It will cover important issues for first time home buyers as well as discuss a few of the details on the Stimulus Bill.
The seminar will take place at Cornerstone Mortgage Company in Burnsville, and are free, no obligation to you. Please register for the event by emailing nichole@mnrealestateteam.com. We will being at 6:30.
December 25, 2008
Low FHA down payment about to go away
If you are a first time buyer or planning on using FHA financing for your next purchase, you need to read Alec Grebis’s post about the looming change with FHA guideline changes. There are still programs available for home buyers purchasing in Dakota County. Alec Grebis with Cornerstone Mortgage is definitely your ‘go to’ guy for the Dakota County programs as well as a local expert in FHA financing. Please see his post at The Mortgage Scoop Blog. http://www.themortgagescoop.com/?p=217