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