South of the River News » Important Real Estate News http://www.southoftherivernews.com Your Key to Home Ownership in South Metro Thu, 06 Aug 2009 02:24:06 +0000 http://wordpress.org/?v=2.8.2 en hourly 1 Scott County Home Buyers Club http://www.southoftherivernews.com/home-buying-process/scott-county-homebuyers-club/ http://www.southoftherivernews.com/home-buying-process/scott-county-homebuyers-club/#comments Mon, 03 Aug 2009 01:42:55 +0000 Nichole Fredrickson http://www.southoftherivernews.com/?p=134 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!!

  • Class size is limited to 10
  • Open to all current residents of Scott County
Financial Literacy Keys in Housebuyers Club FINANCIAL LITERACY KEYS:

  • Budgeting
  • Personalized Budgeting Plan
  • “Finding” money for your dream home
  • Selecting a Quality Home
Home Maintenance Keys in Housebuyers Club HOME MAINTENANCE KEYS:

  • Maintaining your new home
  • Save money on your new home
  • Debt Management
  • Credit Repair
Housebuyers Club Grant Possibilities 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.

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]]> http://www.southoftherivernews.com/home-buying-process/scott-county-homebuyers-club/feed/ 0 New Guidelines for Investment Property Financing http://www.southoftherivernews.com/important-real-estate-news/new-guidelines-for-investment-property-financing/ http://www.southoftherivernews.com/important-real-estate-news/new-guidelines-for-investment-property-financing/#comments Fri, 27 Mar 2009 05:31:02 +0000 Nichole Fredrickson http://www.southoftherivernews.com/?p=85 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.

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]]> http://www.southoftherivernews.com/important-real-estate-news/new-guidelines-for-investment-property-financing/feed/ 0 New Stimulus Package Information http://www.southoftherivernews.com/important-real-estate-news/new-stimulus-package-information/ http://www.southoftherivernews.com/important-real-estate-news/new-stimulus-package-information/#comments Tue, 17 Feb 2009 00:36:01 +0000 Nichole Fredrickson http://www.southoftherivernews.com/?p=83 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.

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]]> http://www.southoftherivernews.com/important-real-estate-news/new-stimulus-package-information/feed/ 0 Low FHA down payment about to go away http://www.southoftherivernews.com/important-real-estate-news/low-fha-down-payment-about-to-go-away/ http://www.southoftherivernews.com/important-real-estate-news/low-fha-down-payment-about-to-go-away/#comments Thu, 25 Dec 2008 22:22:21 +0000 Nichole Fredrickson http://www.southoftherivernews.com/?p=43 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

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