The housing market cooled off a little in January after finishing with strength at the end of last year. Pending Home Sales Index By taking a seasonally-adjusted basis the PHSI (Pending Home Sales Index) fell by 3 percent last month. Along with that the National Association of REALTORS® revised
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03/01/2011
Mortgage markets improved over the past week as Wall Street's concerns about trouble in the Middle East trumped its fears of inflation. Conforming loan rates and FHA mortgage rates in Minnesota fell to the lowest level in three weeks. Mortgage Rates Last Week Last week marked the second straight
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02/28/2011
FHA annual mortgage insurance premiums will increase by one-quarter per cent on April 18th, 2011 according to FHA's Commissioner, David Stevens. The most recent FHA mortgagee letter says that the up-front mortgage insurance premium which is usually financed in a real estate transaction will re
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02/15/2011
In the first part of this article we talked about many of the benefits of the FHA loan program in Minnesota. In this part we’ll talk some more about the unique aspects. Minnesota FHA Programs Most Minnesota buyers today are opting for the fixed rate programs offered by FHA. These are available i
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02/12/2011
When I bought my first home in Minnesota back in 1986 I took out an FHA loan for $68,000 at an interest rate of 10.5%. When I started originating home loans in 1991 I was helping Minnesota first time buyers obtain FHA loans on a regular basis. About 1 in 4 of the loans I was originating back the
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02/12/2011
Congratulations! You’ve closed on the purchase of your Minnesota home. It might feel like it’s been a long road but now that you’ve moved in, you will know that it was all worth it. Let’s take a look at how your monthly payments will work. Buying a Home In Minnesota Step 8: First Monthly Payment
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02/12/2011
The loan closing is the culmination of a lot of work of dozens of people involved in your loan process. It’s an exciting time in which the property ownership transfers from the seller to you. By this time, all the hard work is done and now you’re ready to sign the loan closing documents! Buying a
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02/10/2011
Once you have completed your loan application you will have 30-45 days until your loan closing in many cases. It may seem like an eternity at the moment but the time flies by. There are several key things to be doing between your loan application and loan closing. Buying a Home in Minnesota Step
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02/08/2011
After you have come to an agreement on the purchase offer for your Minnesota home, it’s time to get in touch with me convert your preapproval application into a real transaction based on the property you just bought. Buying a Home in Minnesota Step 5: The Loan Application It’s an exciting time wh
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02/08/2011
Having gone through the work of getting preapproved for financing, defining your search criteria, and finding your dream home in Minnesota, you are now ready to negotiate a deal! Buying a Home in Minnesota Step 4: The Purchase Offer One of the areas that causes much anxiety when buying a home is
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02/08/2011
