Financing Options
Congratulations! You are on your way to becoming a homeowner!
By working with me, you can be assured that all financing options will be explored to find the right loan product that fits your unique needs to obtain the lowest interest rate and payment possible. Please keep in mind that if for some reason you are not qualified for financing today, you will be in a short time if you choose to be set up with a game plan that if followed, will result with a full loan approval!
Loan Products and Options
There are several local lenders that offer innovative underwriting guidelines and lower entry cost loan products to help you achieve your home ownership goal. In addition, government entities such as the Minnesota Housing Finance Agengy and the cities of Minneapolis and St. Paul are offering below market interest rate loans along with down payment assistance, closing cost assistance, monthly payment assistance and loan grants. Please take a moment to consider how some of the following opportunities may help you qualify:
- No Private Mortgage Insurance (PMI)
- No minimum credit score and relaxed underwriting guidelines
- Only one year credit history needed
- Only one year employment history needed
- 2nd and 3rd mortgages with zero payment required (Deferred payments)
- 2nd and 3rd mortgages with 0%, 2% or 3% note rates (Deferred Payments)
- Neighborhood organization grants
- Extended lending ratios
- No cash reserves required
- Zero down programs
- 30 year loan with stated income program
Note: Not all program benefits outlined above go together with the same loan product but are examples of what is possible when lenders and government entities work to make available opportunities for housing that is affordable.
Please make sure to contact Paul to find out how these and other financing programs will put you on the path to owning a home!
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