Attention Edina First Time Home Buyers

Minnesota first time home buyers are generally surprised when I take them out looking for homes and show them the affordable Edina 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 heard the negative news about real estate values, others have seen a completely different side. The combination of reduced property values and low interest rates make your house payments quite often lower than your rent payments. So if you would like to meet with me and talk about becoming a Minnesota first time home buyer, I would truly love to talk with you.

City of Edina

Conveniently located in Hennepin County, Edina is a beautiful first-ring suburb of Minneapolis. As a fully established community, the population has remained stable at around 47,000 over the past 40 years. While large employers such as Jerry's Foods and Fairview Southdale hospital are here, many residents enjoy an easy 20 minute commute to downtown Minneapolis. While often considered one of the most affluent communities of the Twin Cities, MN first time home buyers may be interested in one of the Edina's downpayment assistance programs which offers up to $60,000 to qualified buyers. If you are interested in buying or selling a home in Edina please give me a call.

There are plenty of excellent resources in the great state of Minnesota for first time home buyers. Did you know that Minnesota offers financing programs designed exclusively for first time home buyers through the Minnesota Housing Finance Agency? Commonly known as MHFA, this state agency provides home mortgage financing through Minnesota mortage brokers at reduced interest rates along with possible down payment assistance programs. More lenient credit parameters in this program are also helpful to many buyers wishing to buy their first home. Minnesota Housing Finance Agency works with traditional mortgages such as FHA mortgages, VA loans, and conventional mortgage financing.

Down Payment Assistance

In addition to State of MN 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 MN first time home buyers the big 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 of a loan you are qualified for so that we can research homes in a comfortable price range.

Today's housing affordability index is so low it makes it a great time to buy Edina homes for sale. If you are tired of rising rent payments, take this opportunity to learn more about the benefits of buying your first home. I've worked with many MN 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 we will 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