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4 Things Every Borrower Needs to Know About Mortgage Brokers

Buying a home in Minnesota, whether for the first time or the last, is an exciting event. Yet before you even take a look at a single home for sale, it is a smart idea to have your mortgage financing lined up. While it is possible to get a home loan directly with your local credit union or bank, the most common mortgage-makers are mortgage brokers. If you are ready to apply for a home loan, here are 4 things you need to know about mortgage brokers before starting the process. A broker is a middleman Mortgage brokers act as go-betweens for you and many different potential lenders. Instead o...

June 20th, 2018 | mortgage brokers, 4 Things Every Borrower Needs to Know About Mortgage Brokers

Should I Rent or Buy?

While homeownership has long been the American dream, buying a home is not necessarily the best choice for every person or every situation. There are many factors to consider in determining if a home purchase is the right decision for you right now. Can you Afford It? If the cost to own a home – mortgage, homeowners insurance and property taxes included – if less than roughly 28% of your gross income and you have few other debt obligations, you can probably afford to buy. Do not underestimate the additional costs of maintenance though. Replacing appliances or paying for a plu...

June 14th, 2018 | Purchasing a Home, Should I Rent or Buy?

4 Reasons You Don’t Want to Pay PMI

Years ago, a 20% down payment was a requirement for obtaining a mortgage loan. Putting that much money down made it less likely that borrowers would simply default on their home loans and gave lenders a measure of security and collateral in the case of foreclosure. However, in more recent years, lenders have gotten much more creative in financing to help more Americans become homeowners. There are now mortgage loans that require as little as 3% down up front. In order to compensate for that added risk of loss, lenders require and borrowers with a down payment of less than 20% to pay for pri...

June 7th, 2018 | First-time Homebuyers, 4 Reasons You Don’t Want to Pay PMI

FICO Score

Fair Issac Corp., the creator of the FICO score, announced big changes in how it will calculate credit scores later this fall and these changes could help boost your credit score. Here are a few things that you'll want to know about. Good News ... Renters who pay their rent on time will see a boost in their credit scores. Medical collections won't hurt your credit score as much as they did in the past. Paid-off and settled collections will be ignored when calculating your credit score. Keep in mind ... An unpaid medical collection still hurts your credit score -...

October 2nd, 2014 FICO Score

Things to Consider When Buying a House

Buying a house can be confusing, overwhelming and make buyers feel completely broke by the time they get the keys, but being freed from a landlord and throwing away rent payments can also be incredibly liberating. From finding the best agent to making it through a bidding war, here are 10 things homeowners wish they knew about taking the plunge into home ownership. 1.

September 15th, 2014 Things to Consider When Buying a House

Minnesota Property Taxes Due

Second half property taxes are due in Minnesota on October 15th, 2014.

September 11th, 2014 Minnesota Property Taxes Due

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