From the category archives:

First-time buyers

FHA Makes Extensive Policy Changes to Address Default Risk

by Linda Johnson on January 21, 2010

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The Federal Housing Administration (FHA) has determined that it will be raising home buyer’s up front costs for mortgage insurance,  increasing the down payment requirements for borrowers with lower credit scores, and decreasing the acceptable amount of seller concessions.  These new guidelines will begin taking effect in the spring and summer.

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Nearly-New Construction Minneapolis Condo #3821520

November 14, 2009

Looking for new construction condominium in Minneapolis?  This freshly decorated condo has a gourmet kitchen with upgrades galore!  Use the potential first-time homebuyer tax credit and move in soon!  2803 38th Street East , Minneapolis is located a short walk from the light rail stop making it a very convenient location if you are working down [...]

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Will the First-Time Homebuyer Tax Credit be Extended?

October 28, 2009

With November 30th speeding toward us, many home buyers are wondering and asking, “Is the tax credit going to be extended?”  The tax credit has no doubt given a boost to the housing market this year, but will it continue?   Will it be changed to include more home buyers?  There are many questions being [...]

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Affordable Condos in Edina, Minnesota?

October 11, 2009

I was privileged to be introduced to some brand new condos in Edina recently.  The Burgundy Place Condos have price ranges from the low two hundreds for a one-bedroom , one bath unit to nearly $500,000 for a 2 bedroom 2 bath unit.  The sizes range from just over 800 finished square feet to nearly [...]

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Minneapolis First-Time Homebuyer Charmer Near Minnehaha #3820975

August 19, 2009

If you are a first-time home buyer and you are in the search for a home in the Minneapolis area, this 2-story home could be just the place you are looking for.  The curb appeal that draws you into the house is just the beginning.  Enjoy relaxing on the front porch-there is plenty of space.   Take [...]

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What is the Best Mortgage for Me and Why Do I Need to be Pre-Approved?

April 30, 2009

So you have determined that you are ready to buy a home.  You pay your bills on time, you have established a budget, you have a job that can be verified and has some security.  That’s a lot to think about, isn’t it?  Yes, but if you are not comfortable doing these things, you should [...]

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First-time Homebuyers Avoid Repayment of Tax Credit

February 12, 2009

 Stimulus Advances With Tax Credit Changes This is excellent news for recent people buying a home in Eden Prairie, Chanhassen, Minnetonka and Plymouth as well as those looking to buy a home in Edina, Minneapolis, Maple Grove and other areas.  In reality, it is a positive step for first-time home buyers nationwide.  Tax credit changes! [...]

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Buy a Home and Get a Tax Break!

December 29, 2008

The Housing and Economic Recovery Act of 2008 authorizes a tax credit up to $7,500 for qualified first-time home buyers purchasing a home on or after April 9, 2008 and before July 1, 2009.  Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.  [...]

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Before You Buy Your First Home–Check Out Eight Reasons to Buy!

November 29, 2008

You see your friends buying a home, and your family is wondering when you will be buying a house.   Actually, you may be giving some serious thought to buying your first home, but you just don’t know if buying a home is the right thing for you to be doing right now.  It is very normal to [...]

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So You Think You Want to Buy Your First Minnesota Home; Are You Ready?

November 29, 2008

You have heard the horror stories about buying a home in Minnesota- or any place else! It didn’t close on time; the sellers didn’t move out as soon as they said they would; 2 days before the closing ‘we found out our loan didn’t go through’… I’m sure you have heard all of these stories and [...]

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