Starting in 2025, new credit scoring models will be used by lenders to determine the creditworthiness of potential homebuyers. Fannie Mae and Freddie Mac will mandate the adoption of the new FICO Score 10T and VantageScore 4.0 by the end of the year. For those interested in buying a home,…
Tag: first time homebuyers program
Maximizing the Twin Cities Home Buying Experience: Navigating Expectations and Strategies for Success
Embarking on the journey of purchasing a new home in the Twin Cities is an exhilarating experience, particularly for first-time buyers. However, as time progresses, the process can become disheartening when each potential home fails to meet expectations. While maintaining a realistic outlook on available options and affordability is crucial,…
Essential Private Home Inspection Points for Minnesota Homebuyers to Consider
A private home inspection is an elected contingency for homebuyers during the escrow period. The goal of a private home inspection is to uncover issues that are either hazardous, potentially expensive repairs, or other challenges the new buyer may not expect. The inspection cost varies pertaining to the home’s square…
Understanding FHA Mortgages: A Comprehensive Overview
Buying a home can feel overwhelming, especially when it comes to figuring out the best mortgage for you. One popular option for first-time buyers is an FHA loan. This article will explain FHA loans in simple terms, using information from trusted sources like the U.S. Department of Housing and Urban…
Top Questions First-Time Homebuyers Should Ask a Realtor®
Are you considering buying your first home in Minneapolis, St Paul or the surrounding areas? Congratulations! This decision marks an exciting milestone in your life. While the journey to homeownership can be thrilling, it can also be overwhelming, especially for first-time buyers. To help you navigate the process with confidence,…
The Benefits of Giving Twin Cities, Minnesota Homebuyers Space During Home Viewings
When it comes to selling your home in the Twin Cities, Minnesota, there’s a compelling case for homeowners to step back and let potential homebuyers and their Realtors®explore the property without their presence. While avoiding potentially awkward comments is one motivating factor, there are several other advantages to providing prospective…