Financing

What’s debt to income?

Mortgage lenders look at debt to income (DTI) when they are qualifying you for a mortgage.  Your DTI is your monthly debt to your gross monthly income.  This number is used...
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How does the Government shut down affect mortgages?

As October 1st hit and the government shut down nonessential positions, we started getting updates.  Mortgage lenders weren't sure what exactly would affect us.  There were worries about FHA case...
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How to get from your preapproval to closing on your house…….

While it may seem simple that you just need to keep paying your bills after the excitment of getting preapproved for a mortgage, some forget the little things!  While the...
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Fed meets, surprise announcement!

The Federal Open Market Committee met this week and surprised everyone with their announcement after the meeting.  Over the last few meetings the Fed has been talking about when they...
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HARP loans

The Home Affordable Refinance Program (HARP) has reached over 2 million people in four years.  However it is not reaching as many U.S. homeowners as it should.  There are a...
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USDA rural development boundary changes

Effective October 1, 2013, USDA is going to adjust the boundaries for the rural development program.  This will affect many areas around the Minneapolis/St Paul area.  A year ago, USDA...
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Fannie Mae changes coming in November

Just as the Fannie Mae My Community program was becoming more popular, Fannie Mae is going to change it.  Fannie released their Desktop Underwriting notes effective in November and one...
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FHA back to work changes for foreclosures!

HUD has issued a new FHA mortgagee letter 2013-26 about those with foreclosures due to extenuating circumstances, it's also referred to as guidance for "Back to Work".  This provides underwriting...
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Sharon and John Hensrud

About Us

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.