Minnesota Mortgage Blog - Mortgage and Real Estate News You Can Use

Credit report inquiries, What is the real story? Minneapolis, MN:  As a Mortgage Loan Officer, I’ve pulled and reviewed a lot of credit reports in my day.  I’ve also spent an incredible amount of time debunking the irrational fear so many people have about credit report inquiries.   This one sent...

Do Mortgage Pre-Approval Letters Really Mean Anything?Minneapolis, MN: When buying a home, everyone will tell you that you need a Pre-Approval Letter, and pretty much no sellers will look at your offer without a Pre-Approval Letter being attached to your offer. But do Pre-Approval letters really ...

Minneapolis / St Paul, MN:  When buying a home, your credit matters - a lot. While credit scores alone don't get you a home loan approval, credit scores are one of the most important factors in the loan approval decision.  With places like Credit Karma, and being getting your credit score with y...

The Digital Mortgage HypeIt is 2018. The number of people who physically step into a bank or mortgage lender to do a home loan application is dwindling everyday. The vast majority of people now complete an online loan application on a desktop computer, iPad, or even apply via a Smartphone.Technol...

Minneapolis, MN:  The biggest challenge for most home buyers, especially first time home buyers, is coming up with the required down payment.  While most people understand down payment, they are shocked to learn their are mortgage closing costs. Wose yet, is discovering how much closing costs can...

Minneapolis, MN: VA home loans are one of the greatest benefit to our U.S. Military personal that most vets will ever use. Dispelling VA loan myths that prevent them from using their benefits is therefore very important.VA loan Myth 1):  All veterans are guaranteed a VA loan.Reality: Veterans are...

Minneapolis, MN:  Headlines are screaming Average mortgage rates dropped.  Wow, super cool. Especially if you are actively in the home purchase or refinance market.  Unfortunately, just like so many other things, the devil is in the details.-------------From June 29, 2018----------------We live i...

Minneapolis, MN:  Looking to purchase a home in the near future?  The lack of down payment is a big hurdle for many people. But did you know you can use a gift for down payment? Most loan programs allow for a gift for either some, or all of your homes down payment, including FHA loans and convent...

Home shopping? Get Pre-Approved First Minneapolis, MN: People often make the mistake of starting a home search without knowing what they actually qualify for. Falling in love with a $400,000 home and finding out you qualify for $200,000 can be heartbreaking. Thinking a loan approval will be easy...

Minneapolis, MN:  Not every potential home owner fits the cookie cutter guidelines of most traditional loans, especially the self-employed person. The mortgage industry had plenty of alternative options for self employed right up until the housing crash in 2007, including bank statement loans, st...