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LOOKING FOR A NEW HOME?
If you are buying in Minneapolis or St. Paul, be sure to ask us about how you can get 3% in grant money to be used towards the purchase of your home. Alternately, a lower interest rate is provided for borrowers who have their own funds to pay for closing costs and down payment. The program is called City Living and you can get complete details by calling:
Jody Hippen
Burnet Home Loans
612-827-9451
Interest rates (subject to change)
· 5.90% Interest rate for borrowers choosing not to use the Entry Cost Grant. 6.10% APR (APR based on 30 year $100,000 uninsured conventional mortgage)
· 6.40% Interest rate for borrowers choosing to use the Entry Cost Grant of 3% of the mortgage amount. (6.61% APR base on 30 year $100,000 uninsured conventional mortgage)
Eligible borrowers
- Must be a first time homebuyer
- New and existing, single family (1-4 unit) Properties
- Detached, attached, condos and PUDs
Household Income Guidelines
- Straight Purchase: Income limit - $62,000
- Purchase - Rehab and Refi-Rehab
- Income Limit 1-2 Persons $77,600
- Income Limit 3+ Persons $85,360
Purchase Price Limits
· 1 unit - $256,080
· 2 units - $335,783
· 3 units - $407,960
· 4 units - $470,723
Mortgage Term
· 30 year fixed rate mortgage
· FHA, VA, Conventional
· Purchase, Purchase/Rehab & Refinance/Rehab
WHY SHOULD I GET A MORTGAGE?
Getting a pre-approved mortgage is a great way to get started. With a mortgage approval, you will be in a better position to negotiate with sellers. You will also be able to close on a property quicker than other buyers. This shows the seller how serious you are about the property, and it will make the seller more comfortable working with you. In a "seller's market," or where supplies are limited, a pre-approved mortgage is essential. .
WHAT DO I NEED?
If you decide to apply for a mortgage, you will need to supply information with regards to your income, expenses, and obligations. For a full list of the items you need to bring, please contact us. Got bad credit? That's okay. Many lenders will help you find a solution to your credit problems. We work with various mortgage companies that can help you.
WE MAKE SELLING HOMES EASY
Check out www.zillow.com to see what your neighbor's home sold for!!
We enjoy helping you prepare, market, and sell your home. We do our best every day to help our customers succeed. We offer multiple listing options, enabling you to choose the most economical way to sell your home. You can even participate in the selling process if you so desire.
HOW DO WE HELP YOU?
- We go over the selling process with you, without the technical jargon.
- We perform comparative market analysis.
- We determine the list and target prices.
- We market the property.
- We keep communication with the client open.
- We present the purchase agreement.
WHAT PRICE SHOULD I ASK FOR MY HOME?
We know that you want to get the highest price possible. That's why we research the current market to see what the highest reasonable price is. Here are a few hints on setting the right price:
- Often, your home's value depends on recent selling prices of comparable homes in your area. After reviewing the selling prices for such homes, the price is adjusted according to current market trends.
- Buyers often look in the price range determined by their monthly ability and down payment.
- Buyers are often very knowledgeable in their price range and often purchase by comparison. Unreasonable asking prices are an immediate turn-off.
- Inviting a potential buyer to make an offer shows that you are willing to bargain. But if your asking price is outrageous, the buyer's offer will most likely also be unreasonable.
- It's necessary to offer competitive pricing, terms, and conditions in your area. This will help you sell faster and get the full market value.
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