Limited options on qualifying to buy your Minnesota home?
Are you someone who finds themselves with limited options when applying for a home loan here in Minnesota due to your ‘less than perfect’ credit history or the limited money that you have saved for a down payment?
The great news is the 100% USDA program is here for you as a solution.
We are starting at a 550 or higher credit score with this USDA program here in Minnesota.
One think uniquely specific about this program is the lender will want to either see that you have no collections or paid off collections.
Often paying off collections will lower your credit score, but the trade off is that most people’s collections are less than the 3.5% upfront that the FHA lending requires.
At this time medical collections are excluded
Another thing that makes this program unique is that you aren’t going to be living in the standard 7 COUNTY` Twin Cities, but just outside.
When you reach out to us we can show you a map outside the shaded Twin Cities area. Here is an example of popular cities that you can choose to love in as of now:
Buffalo, Big Lake, Monticello, Zimmerman, Delano, Isanti, Cambridge, North Branch, Lidstrom, Annandale, Stacy, North of East Bethel, West of Mound, South of Lakeville.
for many it’s well worth living in these cities vs renting in the twin cities and not saving the 3.5% or $10,000+ down payment upfront.
Later you can look at the homes by email with photos and see what homes will look like based on your monthly payment that you are approved for.
We wouldn’t have you jump in too early until you get pre-approved and get your pay stubs, bank statements and other documents in to us, so that a mortgage person can provide a solid pre-approval.
Starting Minnesota home prices are going up when you buy
Remember a lot of homes will start at $200-$250,000 even in the cities further out. To get a cheaper monthly payment or if your lower income demands one, consider a townhome, condo, or a home that could use some updates.
I don’t know that this program will be around forever and the 100% part as of now exists so message me online, just look for the motivated buyer link on the site, read the program details and message me if it resonates.
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