By

Leslie Vanderwerf

FHA fees are holding back first time homebuyers

In recent testimony before Congress, Federal Reserve Chairwoman Janet Yellen confirmed what many potential homebuyers have known for years. "It has now become the case that any borrower without a pretty pristine...
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Four mistakes some make with closing costs

All mortgages require closing costs.  They can be paid by the borrower, the lender and sometimes the seller.  It may be a combination of all three.  The most important part...
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Are you ready to buy a home?

Buying a home is not the same as buying a new couch or TV – or even a car.  It takes a lot of planning, both emotional and financial.  Whether...
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New down payment assistance programs for MN Housing

Minnesota Housing's down payment assistance programs are changing.  The program that had been called HomeHelp has been discontinued as of August 29th.  There are currently two programs available, one is...
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What is the difference between a prequalification and a preapproval?

This question was asked on the Consumer Protection Finance Bureau's website and the regulator's answer is listed as: "Prequalification is a lender’s estimate of how much you could be eligible...
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Reasons to refinance

In the last few weeks I have had several clients call me about refinancing.  There are definitely times that you should refi and there are reasons not to do it....
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Want to buy a home after a short sale?

For those that sold their homes with a short sale (selling for less than they owed), things are going to change soon.  Fannie Mae has allowed you to buy a...
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New job in a new area? Want to buy a home now?

For many graduating from college or starting in a new area, it's difficult to buy a new home until you have been on your job for a while.  What happens...
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The HomesMSP Team is committed to meeting you where you are and listening… really listening to understand you so we can use our extensive knowledge of the market and local neighborhoods to give you personalized service.