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