Maple Grove FHA Loans: Not Just For First Time Home Buyers

One of the common ways of financing a purchase of Maple Grove real estate is through a loan program known as FHA (the Federal Housing Administration). This program through the federal government started back in the 1930’s to help with a similar situation we have today when home foreclosures were growing rapidly. MN FHA loans have several advantageous underwriting rules for both the first time home buyer as well as the move up buyer.

Maple Grove FHA Loans: Not Just for First Time Buyers

While the days of the no down payment loan are largely gone, Maple Grove FHA mortgages offer down payments as low as 3 and one half per cent of the sales price. This fact along with the fact that most negotiated offers today involves “seller paid closing costs” allows for a much more achievable entry cost. This is also helpful for current home owners who are selling their home with little or no equity and need to buy their next home with a smaller down payment than usual.

Maple Grove FHA Loans and Credit Scores

Maple Grove buyers will also find that FHA loans offer more expansive credit guidelines as well. Maple Grove home buyers who have some credit challenges may often find that homeownership is a possibility due to this excellent federal program. In addition, unlike conventional loans which have significant pricing adjustments ters based on credit scores, interest rates and discount points on FHA loans vary only slightly based on credit scores.

One important factor you should know about FHA loans is that they are assumable by someone who buys your home. When you are ready to sell your home, the new home buyer of your house may have an option to take over your mortgage if they qualify. This would be especially beneficial if market interest rates are higher when you put your house up on the market for sale. When a new buyer assumes your FHA loan they make up the difference between your sales price and your loan amount through a down payment.

FHA Down Payment Assistance Through MHFA

Maple Grove first time home buyers also may benefit through beneficial interest rates and down payment assistance programs through the Minnesota Housing Finance Agency. This state agency makes use of FHA's special features which allow for second mortgages on the home to be used for reducing the down payment. While maximum income limits may apply for this program, a traditional FHA loan does not have maximum income limits.

MN First Time Buyers First Step

For many Minnesota first time home buyers the big, intimidating question is where do I start the process? Your first step to home ownership is to get prequalified for a home loan. By doing so you find out how much of a loan you are qualified for so that we can search for homes in the right price range.

City of Maple Grove, MN

The City of Maple Grove is a booming suburb of the Twin Cities and has more than tripled its size since the 1980 2008 census to now over 60,000. Situated in north-central Hennepin County the major employer in Maple Grove is Boston Scientific. One of the largest shopping centers in the Twin Cities is located here known as The Shoppes at Arbor Lakes. A beautiful area, Maple Grove has over 1000 acres of parks and 35 miles of trails. If you are considering buying or selling Maple Grove real estate please feel free to give me a call or send me an email.

If you want to learn more about buying a Maple Grove home using FHA financing, please don't hesitate to give me a call. With housing affordability at the best it has been in years it is a great time to buy in Maple Grove!

Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Shakopee Foreclosures: When And How To Buy

How to buy a Shakopee foreclosure

Are you thinking about buying one of the properties in foreclosure in Shakopee? Whether you own a home now or are a Minnesota first time home buyer, you will want to learn the basics before going out to buy. While there are many great values in Shakopee foreclosures you should be prepared for how to negotiate your offer. Located just southwest of Minneapolis, Shakopee is one of the larger bedroom communities of the Twin Cities. Also known as the county seat of Scott County, the city of Shakopee has more than tripled in size over the last twenty years. Shakopee is also home to popular entertainment destinations such as the Canterbury Park horse race track, the Valley Fair amusement Park as well as the Renaissance Festival. As an outer-ring suburb many Shakopee residents commute to downtown Minneapolis for employment. MN first time home buyers in this area in this area will want to look into the Scott County home buyers club for down payment assistance.

Knowing What To Offer On A Foreclosure

A Shakopee foreclosure can be a great value because the bank owns it and is paying for the maintenance of it. As opposed to a short sale, the selling bank has a big motivation to get the listing off of their books. At the same time, banks who are involved in selling a foreclosure want to maximize the amount they get out of the property. In the lower price ranges it has turned into a sellers market meaning that many foreclosures sell for well above the listing price! Knowing what to offer for the foreclosure is critical in terms of being successful with your purchase.

Factors in Foreclosure Buying

There are two big factors to consider when determining how much to offer. The first factor is to consider how long the property has been on the market and the second thing is the general property condition. A foreclosure that has just been listed is likely to sell for near the listing price, while a bank that has a home that has been on the market a long time may be willing to negotiate for deep discounts. Also, a listing that is in poor overall condition may not be able to be financed so the bank may reduce the price far enough to attract cash buyers. I can help you determine these factors as we go out looking for Shakopee foreclosures.
If you are planning on financing the purchase of a foreclosure there are some important things to know as well. First, the house itself must be in acceptable condition to the lender in order for it to qualify for most mortgage programs. Properties in generally poor condition will either require a cash offer or special mortgage financing such as the FHA 203k program. Selling banks will also tend to limit the amount seller paid concessions towards the closing costs of your home loan. In most of these cases the selling bank will limit their contribution to 3 per cent of the selling price, or 2 per cent if you are an investor. Additionally, a selling bank will never look at your offer if it includes a financing contingency for the sale of a home and if you don't provide a preapproval letter along with the offer.

MN First Time Buyers First Step

For many MN first time home buyers the intimidating question is where do I start? Your very first step to home ownership is to get prequalified for a home loan. By doing so you find out how much you are qualified for so that we can research homes in a price range with comfortable payments for you.

Ready to Find A Foreclosed Home?

If you are thinking of buying a foreclosure please give me a call or send me an email. There are many great foreclosure values out there but knowing which one to buy will take some time and expertise. I would value the opportunity to help you in your search for the ideal house!


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Time To Buy Shakopee Townhomes?

Shakopee townhomes for sale: The Pros and Cons

There are many good reasons to look for Shakopee townhomes for sale. Over recent decades this type of home has offered a convenient lifestyle to millions of Americans. With reduced home maintenance and lower priced housing, many people find townhome living to be more conducive to their lifestyles. So what are the pros and cons to living in a Shakopee townhome?
Shakopee townhomes for sale are quite often priced more favorably than traditional single family housing due in part to the use shared walls and common areas. The townhome association to which you will be required to belong is responsible for upkeep of these common areas as well as some of the exterior maintenance of your home as well. This can make buying a Shakopee townhome especially appealing to busy first time home buyers as well as to retirees who prefer not to deal with that type of upkeep.

Shakopee Townhomes: Association Dues

This does not mean that the maintenance of the home is free, of course. Included in your responsibility for residing in a Shakopee townhome you will need to pay monthly association dues. This monthly fee covers a number of things but as to what it covers can and will vary from one Shakopee townhome association to another. For example, while your association fees might include home insurance in one association, you might have to pay that separately for that in another. It is important to review this information before you sign a purchase agreement to buy a Shakopee townhome since your monthly costs of living in that particular home can vary widely.

Conveniently located just southwest of Minneapolis, Shakopee is a rapidly growing suburb of the Twin Cities. As the county seat of Scott County the city of Shakopee has more than tripled in size over the last twenty years. Every year Shakopee attracts tourists from all around the area with popular destinations such as the Canterbury Park horse race track, the Valley Fair amusement Park as well as the Renaissance Festival. As an outer-ring suburb many residents work in downtown Minneapolis. First time home buyers in this area in this area will want to look into the Scott County home buyers club for down payment assistance.

Shakopee Townhomes: Using FHA Financing

If you are using an FHA loan to buy your Shakopee townhome, be certain to investigate how the homeowner's association was originally formed before you make your offer. In many cases, the associations for townhome communities were actually formed as condominium associations which was a cost saving measure for the townhome developer. If the association is actually a condominium association, FHA has special requirements for condominiums and will treat this as one. If the condo association is not yet approved by the FHA, the process for getting FHA condo approval can be time consuming and could possibly delay your loan closing by weeks.

Shakopee townhomes for sale: Pros

• Low maintenance lifestyle
• Less expensive homes
• Shared amenities such as recreational areas l
• Often a small back yard
• No neighbors located below or above as is common in condos

Shakopee townhomes for sale: Cons

Townhome association monthly dues

Small yard or occasionally no yard at all

Shared walls can result in hearing noise from neighbors

Get Preapproved Today

The first part in the process of buying a house is to get prequalified for financing. This means that you meet with a local mortgage lender who will review your financial situation. In this discussion they can tell you what types of MN first time buyer programs you might be qualified for. This critical first part can be done over the phone and most lenders will arrange to talk with you when you're off work, even in the evenings or weekends.

Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Searching For Lake Elmo homes For Sale?

3 Ways To Find homes in Lake Elmo

There are a few ways to find homes for sale in Lake Elmo that people use when buying a home. Since most home buyers start their home search for Minnesota real estate on the internet, I have found that many people miss out on the best ways to search for a home. I would like to share with you some of the benefits and downfalls to each of the different methods of search for homes for sale in Lake Elmo.

Finding Lake Elmo homes For Sale On The Internet

One of the best places to begin is to visit my website to search for all of the available homes from all of the local real estate brokers, with all of the details available. Large national websites leave out much of the important details such as property taxes on the home due to the sheer size of their websites. The issue is that when buying a homes in Lake Elmo the property taxes are one of the largest factors which impact your monthly mortgage payments so why would you want to look for Lake Elmo homes without such important details missing? Please take a moment to visit my website and begin your search for Lake Elmo homes listed for sale today.

Search for Lake Elmo homes Via Email

If you are currently searching for a Lake Elmo homes, send me a quick email to tell me what you are looking for. I can send you advanced searches via email that will tell you not only what’s available on the market, but what has just become available. My software will instantly notify you with new listings that meet your specific search critieria when new listings hit the MLS. Because I need to know the critieria of what you are searching for (for example: 2 bedroom homes in Lake Elmo between $165,000 and $215,000), please send me an email so that we can begin the advanced search process.

A little bit of education goes a long ways, does it not? If you can get exactly the listings you want to see via email such as my customized search provides why would a home shopper need anything else? The strategy of Luck and Guesswork involves using the websites from the large national companies that offer limited information! Without a customized approach to finding the house that you want, too many home buyers will rely on the strategy of Luck and Guesswork offered by the larger national websites.

Lake Elmo Community Information

With just over eight-thousand residents living amidst private neighborhoods and farmland, Lake Elmo has a small town feel despite its proximity to St. Paul. Situated in Washington County, homeowners in Lake Elmo have a short commute to the major employers in Saint Paul. Much of Lake Elmo is part of the Stillwater, MN school district. If you're looking for homes for sale in Lake Elmo, please send me an email or give me a call and I'm glad to help!

First Step: Get Preapproved a Lake Elmo First Time Home Buyer Loan

One of the more important factors in searching for a home is to get preapproved for mortgage financing. Some buyers leave this detail it to the very last minute Most buyers leave it to the last minute It is always important however, especially for the MN first time home buyer to get preapproved for a hoome loan before searching for a home. Please call me and I will help you get started in the process with a Minnesota mortgage banker.

Looking For Lake Elmo homes?

Please understand the strategy you are implementing to search for possibly the largest investment that you will ever make. I encourage you to be proactive and take control of your property search strategy! Come to my website and find all of the Lake Elmo.




Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Saint Louis Park VA Mortgages: Buying A Home With VA Benefits

Saint Louis Park VA Home Loans

One increasingly common mortgage option in Saint Louis Park for Minnesota home buyers is available through the VA. This type of financing has increased nationally by about 20% over the last couple of years due in part to the sheer number of our returning veterans. Additionally with the loss of other options for zero down payment loans in Minnesota, the VA offers a benefit that offers eligible buyers a unique opportunity to buy their home with no down payment. Many veteran home buyers misunderstand the fact that they may use their VA financing benefit multiple times. As a result veteran buyers do not necessarily need to be a first time user in order to get VA loans with zero down payment. This can be a perfect solution for veteran's who own homes and who want to sell their home despite having minimal equity. Since they will not need a lot of money to buy their next home with a MN VA loan they can sometimes afford to sell their home without receiving any proceeds from equity in order to buy the next.

First Step for Saint Louis Park Veterans: Determining Your Eligibility

Veterans must determine two things to see if they will be qualify for a VA loan. First they should research if they are eligible for a Certificate of Eligibility through the Veteran's Administration. They can apply for this online or more simply right through their Minnesota mortgage banker. There are several categories for eligibility and I encourage veterans to check with the VA or to research their eligibility online
While VA mortgages require no down payment, there still are closing costs in Minnesota which the veteran must pay in order to get the loan. Thankfully, the VA allows the veteran to negotiate with the seller to pay up to four per cent of the purchase price towards their costs. This is a very common strategy to buy homes today and most sellers have been prepared to pay these costs as long as they can arrive at the net sales price they need in order to sell the home.
The second thing a Saint Louis Park veteran should determine is if they can get prequalified for a VA loan. I encourage all Minnesota veterans to get preapproved for MN VA loans before we go out shopping for Saint Louis Park homes. When you go through the preapproval process the banker will review your financial situation to determine if you meet the requirements for VA financing. This critical first step is usually done at no charge and requires no commitment to buy on the part of the buyer. In fact many MN VA lenders will do this right over the telephone.

St. Louis Park Community Information

As one of the largest first-ring suburbs to Minneapolis, St. Louis Park is a popular destination for the MN first time home buyer. With plenty of affordable real estate, home owners in St. Louis Park have easy access to major employers in Minneapolis, Edina, Plymouth, Minnetonka and Hopkins. Major employers in Saint Louis Park, Minnesota include the Park Nicollet Clinic, Japs Olson, and Novartis. Now known as the birthplace of movie directors Joel and Ethan Cohen, St. Louis Park is also the hometown of Senator Al Franken, football coach Marc Trestman, and New York Times columnist Thomas Friedman.

Saint Louis Park Veterans: Are You Ready To Buy?

If you want to buy a home in Saint Louis Park using VA financing please send me an email or give me a call. Whether you have a home to sell or are ready to buy your first, Saint Louis Park VA loans are a great way to buy a home in today’s market. With rates at record lows combined with lower property values many veterans have found that it is cheaper to buy than to rent!


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Richfield Rental homes: Time to Buy or Rent?

Richfield Rental homes: Advantages of Buying vs. Renting

If you are looking for Richfield rental homes, pause for a couple of minutes and consider the difference in renting homes versus buying one. Since it is more expensive today to rent homes than to buy one isn’t it at least worth it to consider saving some money by buying a home?

Richfield Rental homes: Is It Worth The Cost?

Richfield rental homes, of course, have the advantage that you can get out of the lease contract in 12 months. This advantage comes at a cost, however, , in that your rent payments will often times exceed those of a house payment. Additionally the rental deposit may well be in excess of the entry cost required for buying a home after considering all of the down payment assistance programs available. Finally, perhaps the highest cost in renting a homes is the fact that you are helping someone else buy their home with your rent payments, versus buying your own home.

Benefits To Look For Richfield Rental Richfield

Still, the advantage may certainly be worth it to rent a homes if you will be moving again to a another city at the end when your lease expires. I tend to think that if you buy a home today you should plan on staying in it for a few years while the market develops.

Benefits To Buying Richfield homes for the First Time Buyer

With all of the great benefits available to the MN first time home buyer today, it is hard to know where to start in terms of benefits. The State of Minnesota now offers special loan programs through its Minnesota Housing Finance Agency to offer reduced interest rates as well as down payment assistance. Additionally many communities today offer additional down payment assistance loans or grants that both reduce what you need for cash to close as well as reducing your monthly payment.

Get Preapproved Today

The first step in the process of buying a home is to get preapproved for mortgage financing. This simply means that you talk with a local lender who analyzes your credit, income, assets, and debts. In the prequalification application they can tell you what types of MN first time buyer programs you might be qualified for. This important first step can be done right over the phone and most lenders will even do this with you when you are off from work.

City of Richfield, MN Community Information

A popular spot for the MN first time home buyer to find affordable homes for sale, Richfield has a robust real estate market. Fortunate to be the home to the world headquarters of Best Buy Company, Richfield has experienced some of the highest job growth numbers in the Twin Cities metropolitan area. As an inner ring suburb, home owners in Richfield also find a quick commute to major employers in either Minneapolis or St. Paul. If you are thinking of buying or selling real estate in Richfield please send me an email or give me a call.

If you have not yet considered buying a homes I would like the opportunity to talk with you about the benefits of both rental homes in Richfield versus buying a home. My consultation is free and am glad to help you consider the differences.




Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

South Saint Paul Real Estate And FHA Mortgages

Perhaps the most popular method of financing today in South Saint Paul is through the use of FHA loans. This federal program originated back in the 1930’s to help with a similar situation we have today when foreclosures were on the rise and buyers struggled to come up with a large down payment. MN FHA loans have several advantageous underwriting rules for both the first time home buyer as well as the move up buyer.
While zero down payments have most gone away, South Saint Paul FHA mortgages offer the smallest down payments available in Minnesota. With a smaller down payment along with the seller paying much of the buyer's closing costs today allows for a much more achievable entry cost. This is also a great advantage for Minnesotans who are selling their home with little or no equity and need a program featuring a small down payment to buy their next home.

South Saint Paul buyers will also find that FHA loans offer more expansive credit guidelines as well. Home buyers who have experienced troubles with credit may qualify for FHA whereas not a conventional loan. In addition, unlike conventional loans which have significant pricing adjustments ters based on credit scores, interest rates and discount points on FHA loans vary only slightly based on credit scores.

South Saint Paul FHA mortgages also allow buyers to qualify through the use of a non-occupant family co-signer. Unlike almost every other financing program, this means that if you don’t quite qualify for the home that you want to buy you might be able to qualify if you add a co-signer to the loan, even if they are not going to live there with you. This feature of the FHA loan has been used more and more as home buyers have struggled through job losses or reduced incomes.

South Saint Paul first time home buyers also may benefit through beneficial interest rates and down payment assistance through Minnesota's MHFA program. This state agency buys FHA loans and makes use of special program features which allow for second mortgages on the property to be used as a method of reducing the first time home buyers required down payment. While maximum income limits apply for this program, many Minnesota first time home buyers are making use of these loans today.

First Step: Get Preapproved for a Mortgage

One of the most important factors in buying a home these days is to get preapproved for a loan. Most buyers leave it to the last minute because it is the least fun part of the entire home buying process. It is very important, especially for the MN first time home buyer to get preapproved for a mortgage before beginning the search for a home. Please email me and I will help you with getting started with a Minnesota mortgage lender.

Living In South Saint Paul

Just south of downtown Saint Paul, MN you will find the great city of South Saint Paul. Rich in Minnesota history, South Saint Paul is one of the historic large meat packing districts in America. Due to its location within Dakota County qualifying Minnesota first time home buyers can stand to benefit from the Dakota County first time buyer program. With a well developed program for Park and Rec in South Saint Paul there are plenty of recreational activities for anyone. Due to an ample supply of affordable housing now available this is a great place to search for homes for the MN first time home buyer. Is South Saint Paul right for you? Please take a moment to give me a call or send me an email!

If you are interested in buying a South Saint Paul home using FHA financing, please don't hesitate to give me a call. With low prices and historically low interest rates on FHA loans it is a great time to buy in South Saint Paul!


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Roseville First Time Home Buyers Tips

Are you planning to buy your first home in Roseville, MN? There are some basic things I would like to share with you about Roseville real estate to help ensure you avoid some of the bigger mistakes that many first time buyers make. With some simple preparation you can avoid some of the most painful pitfalls.

5 Tips For Roseville First Time Buyers

1) Get preapproved for your home loan first! I meet far too many first time home buyers who find their home before they get prequalified for a home loan. It can be a painful experience to go through the work of searching for the perfect home only to find out you are not yet ready to qualify for a loan. You can get preapproved with my preferred Minnesota mortgage lender even during the evenings or on weekends, and generally right over the phone. There is no cost for the service and absolutley no obligation so why not start the process immediately?
2) Get educated about the process of home buying early on. You can learn a great deal at a first time home buyer seminar or at a Home Stretch Worshop available through many communities around the Twin Cities. There is so much to know about the process that it is well worth it to learn as much about it as you can…and as early as you can.
3) Get a home inspection on the house you are planning to buy. While a professional home inspection is not usually required by your lender it can sometimes reveal major potential problems in the home before you are fully committed to the purchase. I will help you negotiate a transaction with a contingency upon a professional home inspection that is satisfactory to you so that if it comes back bad, you can back out of the transaction. Some first time home buyers will skip the home inspection because of the $300 to $500 cost of the inspection. This cost is cheap when compared to making a purchase of a home that later reveals multiple problems.
4) Please take care of your credit after preapproval. After you have received your preapproval for a home loan your lender still might need to check your credit again. Make all of your monthly payments on time and do not open up any new credit. Additionally, avoid additional credit inquiries after your preapproval application to avoid potential problems with your credit score.
5) Be choosey when shopping for house insurance. If you call three homeowner's insurance agents you will get three quotes that can vary by as much as double! Immediately after your loan application you should start your search for insurance estimates.

Information About Roseville, Minnesota

There are many great reasons to consider living in the City of Roseville. As one of only two cities with contiguous borders to both St. Paul and Minneapolis, residents have a convenient commute to a wide variety of employers. Homeowner's in Roseville also enjoy some of the lowest property taxes in the area partly due to its commerically-zoned land. Home to the original Target and Best Buy stores, Roseville is a major shopping district and has more restaurants per capita than anywhere else in the Twin Cities. Students in the area attend one of the schools in the Roseville Area Schools system, District 623. If you are thinking of buying or selling Roseville real estate please give me a call or send me an email.

First Step To Buy A Home: Get Preapproved

For many MN first time home buyers the intimidating question is where do I start? Your first step to home ownership is to get preapproved for a first time buyer's mortgage. By doing so you find out how much you are qualified for so that we can search for homes in the right price range.

Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Savage, MN First Time Home Buyers Tips

Are you planning to buy your own home in Savage, MN, Minnesota? There are some basic things I would like to share with you about Savage real estate to help ensure you avoid some of the bigger mistakes that many first time buyers make. With some very basic preparation you can avoid some of the most painful pitfalls.

Tips for Minnesota First Time Home Buyers

1) Get preapproved for mortgage financing first! I meet far too many first time home buyers who find a home first, only to find out they do not yet qualify for financing. It can be a painful experience to go through the work of searching for the perfect home only to find out you are not yet ready to qualify for a loan. You can get preapproved with my preferred Minnesota mortgage lender right over the telephone, even after normal business hours. There is no cost and no obligation so why not start the process immediately?
2) Get educated about the whole process of buying a home as soon as you can. You can learn a great deal at a first time home buyer seminar or at a Home Stretch Worshop available through many communities around the Twin Cities. There is so much to know about the process that it is well worth it to learn as much as you can, as early as you can.
3) Get a home inspection on the house you are planning to buy. While a home inspection is not required it can sometimes reveal major potential problems in the home before you are fully committed to the purchase. I will help you negotiate a transaction with a contingency upon a professional home inspection that is satisfactory to you so that if it comes back bad, you can back out of the transaction. Some first time home buyers will skip the home inspection because of the $300 to $500 cost of the inspection. The inspection cost is cheap when compared to making a purchase of a home with so many problems that it becomes a money pit.
4) Take care of your credit after preapproval for mortgage financing. After you have received your preapproval for mortgage financing your MN mortgage company still might need to check your credit again. Make your payments on time and do not open up new debts. Additionally, avoid additional credit inquiries after your preapproval to avoid a reduction to your credit score.
5) Do not spend your money for down payment before closing. Your mortgage banker will give you a good faith estimate at loan application showing how much money you will need at closing. Make sure to save your money so that you're not caught short at closing.
Developing into a bedroom community to the Twin Cities, Savage has approximately tripled in size over the past two decades. With plenty of affordable homes for sale, Savage, MN has become a great spot to look for homes for the Minnesota first time home buyer. Conveniently located just west of Burnsville, living in Savage means you will have a 20-30 minute commute to some of the largest employers in Minneapolis. With a well developed Park and Rec program, it seems like there is never a lack for something to do for residents of Savage. If you're planning on buying or selling MN real estate, please take a moment to send me an email or give me a call.

MN First Time Buyers First Step

For many MN first time home buyers the big, intimidating question is where do I start the process? Your very first step to home ownership is to get preapproved for a first time buyer's mortgage. By doing so you find out how much of a loan you are qualified for so that we can research homes in a price range with comfortable payments for you.

Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Looking For Burnsville Rental homes?

Burnsville Rental homes: Should I Rent One Or Buy?

If you are searching for Burnsville rental homes, pause for a couple of minutes and consider the difference in renting homes versus buying one. Since it is more expensive today to rent homes than to buy one isn’t it at least worth it to consider saving some money by buying Minnesota real estate?

Burnsville Rental homes: Is It Worth The Cost of Renting?

Burnsville rental homes will usually have the advantage that you can get out of a lease arrangement within 12 to 24 months. This advantage comes at a cost, however, , in that your rent payments will often times exceed those of a house payment. Additionally the rental deposit may well be in excess of the entry cost required for buying a home when considering all of the down payment assistance programs available for MN first time home buyers. Finally, perhaps the real cost in renting a homes is the fact that you are helping someone else buy their home with your rent payments, versus buying your own home.

The advantages may certainly be worth it, despite the high cost of renting, to rent if you have plans on moving again at the end of your lease. I tend to think that if you buy a home today you should plan on staying in it for a few years while the market develops.

Benefits To Buying Burnsville homes

With all of the benefits available to the MN first time home buyer today, it is hard to know where to start in terms of listing the benefits. The State of Minnesota now offers special loan programs through its Minnesota Housing Finance Agency to offer reduced interest rates as well as down payment assistance. Additionally many communities today offer additional down payment assistance loans or grants that both reduce what you need for cash to close as well as reducing your monthly payment.

First Step: Get Preapproved for Financing

One of the critical first steps in buying a home is to get preapproved. Most buyers leave it to the last minute because it just isn't that much fun to do. It is very important, especially for the MN first time home buyer to get preapproved for financing before buying a home. Please email me and I will help you with getting started with a Minnesota mortgage lender.

As the sixth largest city in the Twin Cities area, Burnsville, MN is an excellent bedroom community to both Minneapolis and St. Paul. While experiencing a population explosion from 1970 through 2000 tripling in size to just over 60,000, Burnsville is now pretty much built-out and its population has stabilized over the past ten years. Larger employers in the community include Independent School District 191, Fairview Ridges Hospital, as well as Pepsi Cola but most homeowners work in the Twin Cities. Burnsville, MN has homes for sale for both for the MN first time home buyer as well as the move up buyer.

If you have not yet thought of buying a homes I would like the opportunity to discuss with you about the benefits of both rental homes in Burnsville versus buying a home. Please take a moment to email or call me.


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Attention Farmington First Time Home Buyers

Buying your first home in Farmington

Have you been hearing and reading about all the Minnesotans who have bought their first home in recent months? Are you simply tired of paying for someone else's home (your landlord's)? If you are, you may want to consider buying your first home in Farmington. With today's record low interest rates along with special MN first time home buyer programs, monthly payments haven't been this affordable in years.

Farmington, MN Community Information

The community of Farmington, MN is a rapidly growing outer-ring suburb of the Twin Cities. With plenty of affordable real estate for sale, Farmington has nearly doubled in size over the past decade. Located just east of Lakeville in Dakota County, many MN first time home buyers have used the Dakota County first time buyers program to buy in Farmington. If you are looking to buy or sell real estate Farmington, MN real estate please don't hesitate to give me a call.

First Time Buyer Financing Programs

There are a wide variety of mortgage loan programs that benefit today's first time home buyer. The most common are FHA loans which only requires a 3 1/2% down payment on the home. A program designed for American's veterans are known VA loans, a program with as little as zero down payment. If you find a home with Fannie Mae's Home Path logo, you might qualify for their 3% down Home Path loan which does not require mortgage insurance. Your mortgage lender will help find the best program based upon your loan qualifications.

Down Payment Assistance

In addition to State of MN down payment assistance funds many of our local communities offer assistance programs of their own as well. Each of these programs vary in terms of qualifications required to access the funds. Depending upon when you are reading this these programs may or may not be funded so we can check on it when you call me.

MN First Time Buyers First Step

For many MN first time home buyers the intimidating question is where do I start? Your very first step to home ownership is to get preapproved for a mortgage. In so doing you will find out how much you are qualified for so that we can search for homes in the right price range.

There may never be a better time to look into buying Farmington homes for sale. If you are tired of the steady increase of rent payments take this opportunity now to learn more about the benefits of becoming a first time home buyer. I've worked with many first time buyers before and am always eager to answer all of your questions. Simply give me a call or send me an email and let's see what might be possible!


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Burnsville VA Loans: Buying Real Estate

Burnsville VA Financing

One common financing option for buying Burnsville real estate for Minnesota home buyers is available through the VA. This type of Burnsville mortgage financing has increased by about twenty per cent over the last few years due in part to the increasing number of our Minnesota veterans returning from the service. Additionally with the loss of other options for zero down payment loans in Minnesota, the VA offers a benefit that offers eligible buyers a unique opportunity to buy their home with no down payment.
Many veteran home buyers misunderstand the fact that they may use their VA eligibility benefit more than once. As a result veteran home buyers do not necessarily need to be a MN first time home buyer in order to use their VA benefit. This can be a perfect solution for veteran's who own homes and who want to sell their existing home to buy another but who don't have a lot of equity in their home. Since Minnesota VA loans do not require a down payment they can more easily sell their home despite receiving no proceeds from the sale.

First Step for Burnsville Veterans: Determining Your Eligibility

Veterans must first determine 2 things to see if they will be eligible for a VA mortgage. First they must see if they are eligible for a VA Certificate of Eligibility (COE). They can apply for the Certificate online or more simply right through their Minnesota mortgage banker. There are several categories for eligibility and I encourage veterans to check with the VA or to research their eligibility online

It is important to note that he Certificate of Eligibility offers a guarantee to the lender which helps to offset some of their losses in the event of a foreclosure. The VA Funding Fee is the guaranty fee paid by the veteran which is normally financed in the mortgage loan. The VA funding fee is waived by the VA for those veterans who have service related disabilities.

Burnsville VA Loans: Get Preapproved for Free

The second thing a Burnsville veteran should determine is if they can get prequalified for a VA loan. I encourage all veterans to talk with a local mortgage lender to get preapproved for MN VA loans before we go out shopping for Burnsville homes. When you go through the preapproval process the banker will review your credit, income, assets, and debts to determine if you meet the VA’s requirements for financing. This critical first step is usually done at no charge and requires no commitment on the part of the veteran. In fact many MN VA lenders will do this right over the telephone.

As the sixth largest city in the Twin Cities metropolitan area, Burnsville is a popular bedroom community to both St. Paul, Minneapolis, and neighboring suburbs. While going through a rapid population expansion from 1970 through 2000 and tripling in size to just over sixty-thousand residents, Burnsville is now fairly well built-out and its total population has stabilized over the past ten years according the 2010 census. Larger employers in the community include Independent School District 191, Fairview Ridges Hospital, as well as Pepsi Cola but most homeowners work in the Twin Cities. Burnsville has a wide variety of real estate for sale both for the MN first time home buyer as well as the move up buyer.

If you are a Burnsville veteran and want to buy a home please just give me a call. Whether you have a home to sell or are ready to buy your first, VA loans can be a great way to buy a home in Burnsville. With record low rates and reduced home values many vets have found that it is cheaper to buy than to rent!




Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Buying Apple Valley Homes With A VA Mortgage

One common financing option for buying Apple Valley real estate for home buyers is available through lenders who offer loans guaranteed by the Veteran's Administration. This type of financing has increased nationally by about 20% over the last couple of years due in part to the increasing number of our veterans returning from the service. Additionally with the loss of other options for zero down payment loans in Minnesota, the VA offers a benefit that offers eligible buyers a unique opportunity to buy their home with no down payment.

Apple Valley VA Loans: Not Just For First Time Home Buyers

Many veteran home buyers misunderstand the fact that they may use their VA financing benefit multiple times. As a result veteran buyers do not necessarily need to be a first time user in order to use their VA eligibility. This can be a perfect solution for veteran's who own homes and who want to sell their home despite having minimal equity. Since they will be able buy their next home with no down payment with a Minnesota VA loan they might be able to afford to sell their home without receiving any proceeds from equity in order to buy the next.

First Step for Apple Valley Vets: Determining Eligibility

Veterans must first determine 2 things to see if they will be qualify for a VA loan. First they must see if they are eligible for a Certificate of Eligibility through the VA. They can apply for the Certificate online or more simply right through their Minnesota mortgage banker. There are several categories for eligibility and I encourage veterans to check with the VA or to research their eligibility online

Please note that the Certificate of Eligibility offers a guarantee to the lender which compensates them for a portion of their losses in the event of foreclosure This guarantee is paid for by the veteran home buyer in the form of the “VA funding fee” which is typically financed on top of the mortgage loan. The VA funding fee is waived by the VA for those veterans who have experienced service related disabilities.

Apple Valley VA Mortgages: Get Preapproved Early

The second thing a Apple Valley veteran should determine is if they qualify for mortgage financing. I encourage all veterans to talk with a MN mortgage banker to get preapproved for Minnesota VA loans before we go out hunting for Apple Valley homes. By going through the preapproval the lender will review your financial situation to determine if you meet the requirements for VA financing. This important first step is usually free and requires no commitment on the part of the veteran. In fact many MN VA lenders will do this right over the phone, even on weekends when you're off work.

Community Information: Apple Valley, MN

The city of Apple Valley was recently named in the top twenty of best places to live in America. With over 49,000 residents, the city has more than doubled its population over the last thirty years. Located in northwestern Dakota County, Apple Valley first time home buyers can benefit from the Dakota County first time buyer program With a well-developed Parks and Rec department you'll never lack for something to do here. If you are looking to buy or sell Apple Valley real estate please feel free to give me a call!

If you are a Apple Valley veteran and are interested in buying your first home please just give me a call. Whether you currently own a home or are looking to buy your first home, VA loans can be a great way to buy a home in Apple Valley. With interest rates at record lows combined with reduced property values many veterans have found that it is cheaper to buy than to rent!




Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Savage Rental homes: Is It Better To Buy or Rent?

Savage Rental homes: Should I Rent One Or Buy?

If you are in the hunt for Savage rental homes, hold on for a moment and consider the differences between renting homes versus owning. Since it is more expensive today to rent homes than to buy one isn’t it at least worth it to consider saving some money by buying a home?
Savage rental homes, of course, usually have the advantage that you can get out of a lease arrangement within 12 to 24 months. This advantage comes at a cost, however, , in that the amount of your rental payments will often times exceed those of a typical house payment these days. Additionally the rental deposit may well be in excess of the entry cost required for buying a Savage homes after considering all of the down payment assistance programs available for first time home buyers. Finally, perhaps the real cost in renting a homes is the fact that you are helping someone else buy their home with your rental payments helping make THEIR house payments.

Benefits To Look For Savage Rental Savage

Still, the advantages of renting may be worth it to rent if you will be moving again to a another city at the end when your lease expires. I tend to think that if you buy a home today you should plan on staying in it for a few years while the market develops.

Benefits To Buying Savage homes for the First Time Buyer

With all of the great benefits available to the MN first time home buyer today, it is hard to know where to start in terms of benefits. The State of Minnesota now offers special loan programs through its Minnesota Housing Finance Agency to offer reduced interest rates as well as down payment assistance. Additionally many communities today offer additional down payment assistance loans or grants that both reduce what you need for cash to close as well as reducing your monthly payment.

First Step: Get Preapproved For Mortgage Financing

One of the most important factors in searching for a home is to get preapproved for mortgage financing. Some buyers leave this detail it to the very last minute Most buyers leave it to the last minute But it’s very important, especially for the MN first time home buyer to get preapproved for a hoome loan before searching for a home. Please email me and I will help you with getting started in the process with a Minnesota mortgage banker.

Developing now into a bedroom community to Minneapolis and Saint Paul, Savage has approximately tripled in size over the past two decades. Filled with affordable homes for sale, Savage, MN has become a favorite spot to look for real estate deals for the MN first time home buyer. Conveniently located just west of Burnsville, living in Savage means you will have a 20-30 minute commute to some of the largest employers in Minneapolis. With a well developed Park and Rec program, it seems like homeowners of Savage always have something fun to do. If you're planning on buying or selling MN real estate, please take a moment to give me a call.

Savage Rental homes: A summary

If you have not yet thought of buying a homes I would like the opportunity to discuss with you about the benefits of both rental homes in Savage versus buying a home. I encourage you to take the first step which is to call or email me.




Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

St. Louis Park Townhomes For Sale: Pros and Cons

St. Louis Park townhomes for sale: Are they right for you?

There are a lot of good reasons to go out searching for St. Louis Park townhomes for sale. Over recent decades this type of home has offered Americans homeownership with a more care-free lifestyle. With less home maintenance costs along with lower property prices, many people find townhome living to be more conducive to their lifestyles. So what are the pros and cons to living in a St. Louis Park townhome?

Prices for St. Louis Park townhomes for sale

St. Louis Park townhomes for sale are quite often priced more favorably than traditional single family housing largely due to the shared walls and common areas. The townhome association to which you will be required to belong is responsible for upkeep of these common areas as well as some of the exterior maintenance of your home as well. This can make buying a St. Louis Park townhome especially appealing to busy first time home buyers as well as to retirees who prefer not to deal with that type of upkeep.

St. Louis Park Townhome Association Dues

This does not mean that the maintenance is without cost, as you know. As part of your financial responsibility for owning a St. Louis Park townhome you will have a monthly dues you must pay to the association. This monthly fee covers a number of things but as to what it covers can and will vary from one St. Louis Park townhome association to another. For example, while your association fees might include home insurance in one association, you might have to pay that on your own in another. It is important to check into these things before you make your decision to buy as your monthly costs could vary significantly depending upon the association.

St. Louis Park Community Information

As one of the biggest inner ring suburbs of Minneapolis, Saint Louis Park, MN is becoming a popular destination for the MN first time home buyer. With plenty of affordable homes, residents of Saint Louis Park have easy access to major employers in Minneapolis, as well as surrounding western suburbs. Major employers located in St. Louis Park include Japs Olson, Park Nicollet Clinic, and Novartis. Now known as the birthplace of movie directors Joel and Ethan Cohen, Saint Louis Park is also the hometown of Senator Al Franken.
If you are using an FHA loan to buy your St. Louis Park townhome, be certain to investigate how the homeowner's association was originally formed before you make your offer. In many cases in Minnesota, townhome associations were formed as condominium associations which was a cost saving measure for the townhome developer. If it is actually a condo association, FHA has special requirements for condominiums and will treat this as one. If the condo association is not yet approved by the FHA, the process for getting FHA condo approval can be time consuming and could possibly delay your loan closing by weeks.

St. Louis Park townhomes for sale: Pros

• Lower maintenance lifestyle
• Less expensively priced housing
• Shared amenities such as recreational areas l
• Often a small back yard
• No neighbors located below or above as is common in condos

St. Louis Park townhomes for sale: Cons

Townhome association monthly dues

Small yard or occasionally no yard at all

Shared walls can result in hearing noise from neighbors

MN First Time Buyers First Step

For many Minnesota first time home buyers the big, intimidating question is where do I start the process? Your very first step to home ownership is to get prequalified for a home loan. In so doing you will find out how much you are qualified for so that we can research homes in a comfortable price range.

Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Burnsville First Time Home Buyers Tips

Are you planning to buy your own home in Burnsville, Minnesota? There are a few things that I would like to share with you about Burnsville real estate to help make sure that you avoid some of the biggest mistakes many first time home buyers make. With some basic preparation you can avoid some painful pitfalls.

Avoid These 5 Mistakes

1) Get prequalified for mortgage financing first! I have met far too many first time buyers who find their home before they get prequalified for a home loan. It can be an extraordinarily painful experience to go through the work of finding the ideal home only to find out you are not yet ready to qualify for a home loan. You can get preapproved with my preferred MN mortgage lender even during the evenings or on weekends, and generally right over the phone. There is no cost for the service and absolutley no obligation so why not start the process immediately?

2) Get educated about the whole process of buying a home as soon as you can. You can learn a great deal at a first time home buyer seminar or at a Home Stretch Worshop available through many communities around the Twin Cities. There is so much to know about the process that it is well worth it to learn as much about it as you can…and as early as you can.

3) Get a house inspection on the house you are planning to buy. While a professional home inspection is not usually required by your lender it can reveal major potential problems in the house before you are fully committed to the purchase. You can negotiate a transaction with a contingency upon a satisfactory home inspection so that if it comes back bad, you can back out of the transaction. Some first time home buyers will skip the home inspection because of the cost involved. This cost is cheap when compared to making a purchase of a home with so many problems that it becomes a money pit.

4) Take good care of your credit after preapproval for mortgage financing. After you have received your preapproval for a home loan your Minnesota mortgage company still might need to check your credit again. Make all of your monthly payments on time and do not open up new debts. Additionally, avoid additional credit inquiries after your preapproval application to avoid potential problems with your credit score.

5) Don't spend your down payment money prior to loan closing. Your mortgage banker will give you a good faith estimate at loan application showing how much money you will need at closing. Make sure to save your money so that you're not caught short at closing.

As the sixth largest city in the Twin Cities metropolitan area, Burnsville is a popular bedroom community to both Minneapolis and St. Paul. While experiencing an explosion in population from 1970 through 2000 to over 60,000 residents, Burnsville is now fairly well built-out and its total population has stabilized over the past ten years according the 2010 census. Larger employers in the community include Independent School District 191, Fairview Ridges Hospital, as well as Pepsi Cola but many residents find employment in the Minneapolis, St. Paul or surrounding suburbs. Burnsville has a wide variety of real estate for sale both for the Minnesota first time buyer as well as the move up buyer.

First Step To Buy A Home: Get Preapproved

For many MN first time home buyers the intimidating question is where do I start? Your first step to home ownership is to get prequalified for a home loan. By doing so you find out how much of a loan you are qualified for so that we can search for homes in the right price range.


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Apple Valley Homes And FHA Loans

FHA Loans in Apple Valley

One of the common ways of financing a purchase of Apple Valley real estate is through FHA (the Federal Housing Administration). This program through the federal government started back in the 1930’s to help with a similar situation we have today when home foreclosures were rising and home buyers struggled to come up with a large down payment. FHA loans have many advantageous guidelines for both the MN first time home buyer as well as the homeowner who is selling one home to buy another.

Apple Valley FHA Mortgages: For Home Buyers and Home Sellers

While the days of the no down payment loan are largely gone, Apple Valley FHA mortgages offer the smallest down payments available in Minnesota. This fact along with the fact that most negotiated offers today involves “seller paid closing costs” allows you to get in for a much more reasonable entry cost. This can also an advatage for current home owners who want to sell their home but have little or no equity and need to buy their next home with a smaller down payment than usual.

Apple Valley FHA Loans and Credit Scores

FHA mortgages offer more expansive credit guidelines than other types of home financing. Apple Valley home buyers who have some credit challenges may often find that homeownership is a possibility due to this excellent federal program. Additionally, unlike conventional loans which have significant pricing adjusters based on the home buyers credit scores, interest rates and discount points on FHA loans vary only slightly based on credit scores.

FHA and Non-Occupant Co-signers

Apple Valley FHA loans also allow a borrower to qualify through the use of a non-occupant co-signer Unlike almost every other mortgage program, this means that if you do not quite qualify for the house in Apple Valley that you want to buy you can strengthen your loan application by using a co-signer. This feature of the FHA loan has been used more and more as home buyers have been challenged with spotty work histories in the recession.

FHA Down Payment Assistance Through MHFA

Apple Valley first time buyers also may benefit through reduced interest rates and down payment assistance through Minnesota's MHFA program. This state agency buys FHA loans and makes use of special program features which allow for second mortgages on the home to be used for reducing the buyer's entry costs. While maximum income limits will apply for this loan through MHFA, many Minnesota first time home buyers are making use of these loans today.

MN First Time Buyers First Step

For many MN first time buyers the big, intimidating question is where do I start the process? Your first step to home ownership is to get prequalified for a home loan. By doing so you find out how much you are qualified for so that we can research homes in a price range with comfortable payments for you.

Living in Apple Valley

The city of Apple Valley, MN was named in 2010 as as one of the top 20 best places to live in America.in the top twenty of best places to live in America. With over 49,000 residents, the city has more than doubled in size over the last 30 years. Situated entirely in Dakota County, Apple Valley first time home buyers can benefit from the Dakota County first time buyer program With a well-developed Parks and Rec department you'll always have something to do in Apple Valley. If you are looking to buy or sell Apple Valley real estate please do not hesitate to give me a call!

If you are interested in buying a Apple Valley home using FHA financing, please don't hesitate to give me a call. With low prices and historically low interest rates on FHA loans it is a great time to be a home buyer!


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Time To Buy Farmington Townhomes?

Farmington townhomes for sale

As you begin your property search for Farmington townhomes for sale, you should be aware of the both the benefits and challenges of townhome living. Tens of millions of Americans enjoy living in townhomes today and it might be a perfect housing solution for you. Just like with any type of real estate purchase it is important that you understand the nuances of the home style that you purchase before signing on the dotted line.

Prices for Farmington townhomes for sale

Farmington townhomes for sale are often priced significantly less than traditional single family houses due in part to the use shared walls and common areas. The townhome association to which you will be required to belong is responsible for upkeep of these common areas as well as some of the exterior maintenance of your home as well. This can make buying a Farmington townhome especially appealing to busy first time home buyers as well as to retirees who prefer not to deal with that type of upkeep.

This fact does not mean that the maintenance is without cost, as you know. As a part of your responsibility for living in a Farmington townhome you will need to pay monthly association dues. These dues cover a variety of things but the extent to what it covers can and will vary from one Farmington townhome association to another. For example while your association dues might include insurance for your dwelling in one association, you might have to pay that on your own in another. It is important to investigate these points before you buy a Farmington townhome since your monthly costs of living in that particular home can vary widely.

Farmington, MN Community Information

Farmington, MN is a rapidly growing outer-ring suburb of the Twin Cities. With plenty of affordable real estate, Farmington, MN has almost doubled its size over the past decade, now with over 20,000 residents. Convenientlyocated just south of Rosemount in Dakota County, many Minnesota first time buyers have used the Dakota County first time buyers program to buy a home in Farmington. If you are looking to buy or sell real estate Farmington, MN real estate please don't hesitate to send me an email.

Interior Contents Insurance for Farmington Townhomes

You should also know that in most associations your interior contents of your townhome will not be covered by insurance. This means that you will want to also maintain “walls-in” insurance which is comparable to renters insurance, which is an additional annual fee to your insurance company. If you are getting a mortgage for your Farmington townhome you will be required to buy and maintain this type of insurance for your home.

Farmington townhomes for sale: The Pros

• Low maintenance lifestyle
• Less expensive homes
• Shared amenities such as recreational areas l
• Often a small back yard
• No neighbors located below or above as is common in condos

Farmington townhomes for sale: The Cons

Townhome association monthly dues

Small yard or occasionally no yard at all

Shared walls can result in hearing noise from neighbors

Get Pre-qualified

The first part in the process of buying a house is to get prequalified for financing. This means that you meet with a local mortgage lender who analyzes your credit, income, assets, and debts. In the prequalification application they can tell you what types of Minnesota first time buyer programs you might be qualified for. This critical first part can be done over the phone and most lenders will even do this with you when you are off from work.

Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Attention Burnsville First Time Home Buyers

Minnesota first time buyers are usually surprised when I take them out looking for homes and show them the affordable Burnsville homes for sale. The fact is that the housing affordability index in Minnesota has not been this low in years. While many renters have only read the negative press about values in real estate, others have seen it from a completely different angle The combination of reduced property values and low interest rates make housing payments quite often lower than rent payments. So if you would like to talk about becoming a MN first time home buyer, I would truly love to talk with you.
As the sixth largest city in the Twin Cities area, Burnsville, MN is an excellent bedroom community to both St. Paul, Minneapolis, and neighboring suburbs. While experiencing a population explosion from 1970 through 2000 tripling in size to just over 60,000, Burnsville is now fairly well built-out and its total population has stabilized over the past ten years according the 2010 census. Larger employers in the community include Independent School District 191, Fairview Ridges Hospital, as well as Pepsi Cola but most residents work in the Twin Cities or surrounding suburbs. Burnsville, MN has homes for sale for both for the Minnesota first time buyer as well as the move up buyer.

First Time Buyer Financing Programs

There are a wide variety of programs that may benefit today's first time home buyer. The most common today are FHA loans which only requires a 3 1/2% down payment on the home. A program designed for American's veterans are known VA loans, a program with as little as zero down payment. If you find a home with Fannie Mae's Home Path logo, you might qualify for their 3% down Home Path loan which does not require mortgage insurance. Your mortgage lender will help find the best program based upon your loan qualifications.

Down Payment Assistance

In addition to State of Minnesota down payment assistance funds many local communities offer programs of their own as well. Each of these programs vary in terms of qualifications required to access the funds. Depending upon when you are reading this these programs may or may not be funded so we can check on it when you call me.

The First Step: Get Preapproved!

For many Minnesota first time home buyers the big question is where do I start? Your very first step towards buying your first home is to get preapproved for a mortgage. By doing so you find out how much you are qualified for so that we can research homes in a price range with comfortable payments for you.

Today's housing affordability index is so low it makes it a great time to buy Burnsville homes for sale. If you are tired of throwing your money away on rent, take this opportunity now to learn more about the benefits of buying your first home in Minnesota. I've worked with many MN first time buyers before and am glad to answer any and all of your questions. Simply give me a call or send me an email and let's see what might be possible!

Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

Eagan Houses For Sale And FHA Loans

One of the common ways of financing a purchase of Eagan real estate is through a loan program known as FHA (the Federal Housing Administration). This federal program started back in the Great Depression to help with a situation like we have today when home foreclosures were growing rapidly. MN FHA loans have several advantageous underwriting rules for both the first time home buyer as well as the move up buyer.

Eagan FHA Mortgages: For Home Buyers and Home Sellers

While the years of the zero down payment loans have gone away for most of us, Eagan FHA loans offer down payments as low as three and a half per cent of the purchase price. With a smaller down payment along with the seller paying much of the buyer's closing costs today allows you to get in for a much more reasonable entry cost. This is also a great advantage for Minnesotans who are selling their home with little or no equity and need a program featuring a small down payment to buy their next home.

FHA mortgages offer more expansive credit guidelines as well. Home buyers who have struggled through some credit challenges may more frequently qualify for a loan with FHA. Unlike conventional loans which have big pricing adjusters based on the home buyers credit scores, interest rates and discount points on FHA loans vary only slightly based on credit scores.

One compelling fact about FHA mortgages is called assumability. This means that in the future when you are ready to sell, the buyer of your home may find the rate attractive on your home and offer to take over your mortgage payments. This could be an attractive selling feature to your home if interest rates are higher when you put your house up on the market for sale. When a new buyer assumes your FHA loan they will make up the difference between the sales price and your loan amount through a down payment.

FHA Down Payment Assistance Through MHFA

Eagan first time home buyers also may benefit through beneficial interest rates and down payment assistance programs through the Minnesota Housing Finance Agency. This state agency makes use of FHA's special features which allow for second mortgages on the home to be used for reducing the buyer's entry costs. While maximum income limits may apply for this program, a traditional FHA loan does not have maximum income limits.

Find Out What You Are Qualfied For

The first step in the home buying process is to get prequalified for financing. This simply means that you talk with a local lender who analyzes your credit, income, assets, and debts. In the prequalification application they can tell you what types of MN first time buyer programs you might be qualified for. This first step can usually be done right over the telephone and most lenders will arrange to talk with you when you're off work, even in the evenings or weekends.

The Community of Eagan

If you are thinking about a move to the southern metropolitan area you will want to check into Eagan real estateCITY. Due to its convenient access to the Twin Cities metro, the City of Eagan has grown rapidly over the years. As recently as fifty years ago Eagan had only about 3,000 residents, but as of the 2010 census now has over 64,000. Of course, this means that most of the housing stock is in newer, well-planned communities. Because Eagan is in Dakota County, qualifying first time buyers will want to ask me about the Dakota County First Time Buyers program. For a taste of what's happening in Eagan, go to their Community Events page.

If you are interested in buying a Eagan home using FHA financing, please don't hesitate to give me a call. With low prices and historically low interest rates on FHA loans it is a great time to be a home buyer in Minnesota!


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale