FIRST TIME HOME BUYERS in Minnesota

Minneapolis, MN: Our first time home buyer programs are designed to assist those buying a home for the first time. Our loan specialist will walk you through the entire home buying process to insure that you never feel without an experienced helping hand. 

Mortgage loan programs like FHA Loans, VA Loans, FHA 203k Loans, USDA Rural Housing, and down payment assistance loans of all kinds are designed to make it a little easier for first time home buyers to achieve the dream of home ownership. We are a top lender in MN and WI for all these Minnesota mortgage loan programs.

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FHA's Loans: Not just for first time home buyers, FHA/HUD encourages lenders to help low- and moderate-income families become homeowners by lowering the lenders risk. FHA mortgage insurance also encourages mortgage companies to make loans to otherwise creditworthy borrowers and projects that might not be able to meet conventional underwriting requirements, by protecting the mortgage company against loan default on mortgages for properties that meet certain minimum requirements--including manufactured homes, single-family and multifamily properties.

Minimal Down Payment and Closing Costs. Down payment just 3.5% of Sales Price Gift for down payment and closing costs allowed. FHA regulated closing costs. Seller can credit up to 6% of sales price towards buyers costs.

Easier Credit Qualifying Guidelines such as: Minimum FICO credit score of 640. FHA will allow a home purchase two years after a Bankruptcy. FHA will allow a home purchase three years after a Foreclosure.

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VA loans for Veterans. VA Loans require no down payment, and have no mortgage insurance, plus you can roll all your closing costs into the loan. This makes for one heck of a great first-time home buyer deal for veterans. The country appreciates your service. This is one way we pay you back. Today mortgage rates on VA loans are very low, making homes even more affordable.

USDA Rural Housing Loans, also called the Rural Development Loan, is designed to provide ZERO Down payment rural home financing for first-time homeowners with low or moderate income who likely could not qualify for more traditional financing. If you are looking to buy a home in a rural area of Minnesota, or Wisconsin, this is a program you should ask our mortgage loan specialist if you qualify.