Posted 04/03/2017

Mortgages Unlimited home loans

You’re not alone! According to NAR, in 2016, single women made up 17% of home sales (highest point since 2011) while single men represented 7% of home sales.

On average, women earn less than men but that hasn’t stopped women from their desire to own a home. With the down payment assistance programs and first time home buyer programs, why should it?

There are many things to keep in mind when you start your journey to home ownership. This is not like renting.  When you buy a home, you own it and all the repairs and maintenance that come with it over the years.  You’ll have taxes and insurance to add to your mortgage and other fees. Scared yet? Don’t be! That’s not the goal here. But helping you be prepared is.

Tips for buying your home:

Seek out a lender and get pre-approved. Nothing says I’m serious about buying a home than a pre-approval for a home loan. This lets the Realtor know that when you find the right house, you’re ready to make an offer. Check out some of the down payment assistance programs and other programs so you can have an idea of how they work and what you might qualify for. Although your lender will provide you with options, it’s always good to go in with some knowledge.

First time home buyer – http://www.mnhousing.gov

USDA home loans with zero down –https://www.muihomeloans.com/programs/usda-home-loan/

VA home loans with zero down – https://www.muihomeloans.com/programs/va/

There are other loan programs to choose from.  Loan programs have different guidelines so your lender will be able to help you choose the one that best fits your situation.

Buy what you can afford. You may be qualified for more than you want to spend monthly. Go with your instincts on this one. If you are not comfortable buying at the highest amount you qualified for, then don’t. The amount you qualify for is just that and doesn’t mean you must buy at that price.

Find your real estate agent. This can come from a recommendation from your lender, family or friends. Just be sure that he or she is listening to your needs.  You may not connect with your lender or Realtor. It is your choice and you want to feel comfortable with whom you work with so don’t feel obligated to hire the first person you meet. Just a note; if this is your first time buying a home, there is no fee to pay to your agent when purchasing a home unlike when you’re selling your home.

Think about resale. Think hard about that house you might find fun with its quirky angles and odd rooms. If it seems like a great deal and offers aren’t pouring in, it’s likely because of these odd features. It will be no different when you go to sell it.

You always hear location, location, location! Well, there’s something to that. Consider the school district and convenience to shops and parks. Even if you don’t have children, living in highly rated school district will certainly be to your benefit when the time comes to sell your home.  Your Realtor can provide you with crime data, school district data and historical resale data so you’ll have an idea of what you can expect at resale.

Mortgages Unlimited is a local mortgage company serving not only the Twin Cities but also, South Dakota and Wisconsin. Minnesota Housing programs are not available in South Dakota or Wisconsin. We work on the behalf of our clients ensuring they are getting the best possible loan while providing outstanding customer service.

Give one of our Mortgage Consultants a call @ 763-416-2600 if you are looking to purchase a home or refinance your existing home loan. Or you start a secure online application at www.muiapply.com.

 

 

 

 

 

 

 

 

 

 

 

Posted 10/08/2014

Have you ever noticed a house while you’re on a walk, driving down the street, or going for a jog and had to find out more information about it? We discovered an awesome app that can do just that – Homesnap!  With Homesnap, just snap a quick picture of the house with your phone and it will provide all the information you would need to know when house hunting. Homesnap is a trusted real estate search platform for people to explore homes and search with their mobile device. You can snap a photo of any home, nationwide and get information. This app is great for both real estate agents and just your average house hunter! One feature of this app that we found really interesting is that house hunters can “follow” real estate agents they know and trust and see what sort of houses they have up for sale and from there, schedule a showing right from their phone.

Another great addition to Homesnap , is Homesnap Pro; which is for real estate agents. Homesnap Pro makes it incredibly easy for agents to connect with their buyers and provide market info with just a tap of the finger. Real Estate Agents can create a profile page with all of their information making it extremely easy for potential buyers to connect with them. Agents can also access MLS Data, property history, other agent contact information, competitive agent data in the surrounding areas, and it can even create CMA reports! We, of all people, know how difficult it can be to find a home and, personally, we feel this app will make the journey a lot more fun and a lot less stressful! Homesnap is available on iPhone, iPad, and Android devices.

Check it out here: http://www.homesnap.com/

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