In the face of escalating home prices, consumers are finding relief through recent announcements by the Federal Housing Administration, the regulatory authority for loan limits in conforming and government-guaranteed loan programs. Home loans are broadly classified into government-guaranteed, conforming, and jumbo lending products, with jumbo loans catering to larger amounts…
Tag: St Paul First Time Home Buying Process
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…
Twin Cities Real Estate Market
The Twin Cities housing market has been crazy over the past few years. While there have always been periods of ups and downs, buyer’s markets and seller’s markets, yet the frenetic pace and swings has had everyone speculating. Now that interest rates have climbed back to more “normal” levels, those…
FHA mortgage insurance premiums
The FHA Mortgage Insurance premium will be reduced from 0.85 percent to 0.55 percent for most homebuyers seeking an FHA-insured mortgage, which could mean an estimated savings of $678 million for American families in aggregate by the end of 2023 alone. For details, please read the Department of Housing and Urban Development…
What does pending sale mean in real estate?
Buying a home is a process. Once a buyer writes an offer and has it accepted, thelisting status is called a “pending sale.” During this stage, the principals involved perform all the elements of the contract, and once complete, the title is transferred to the new owner. This might sound…
Motivated Seller – Make Me an Offer!
Even in a strong Twin Cities seller’s market, a homebuyer might hear the words, “Make me an offer.” For a nicely appointed home in the Twin Cites that is well priced, this can be a surprise. Being invited to write an offer can often give the buyer pause. Most buyers…