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: Twin Cities First Time Home Buyers
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,…
Twin Cities Homebuying: Questions to Ask When Touring a Condo or a Home
When you’re ready to begin searching for a new home, it’s easy to get swept up by the homebuying process. The combination of an exciting prospect of becoming a homeowner for the first time and the lack of education pertaining to the process can often lead to you leaving a…
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…
Are You Looking to Enhance a Small Porch?
Who doesn’t love the idea of a front porch? Do you picture yourself sipping a cool lemonade or iced tea in the shade on a hot summer’s day while watching the world go by. Some home builders have embraced this ideal over the past couple decades with more new construction…