Minnesota First Time Home Buyer
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Buying a home for the first time can be scary, especially as the home buying process continues to get more complex and also more expensive. Figuring out how to come up with a down payment, researching all the different Minnesota home buying programs, and of course beginning the daunting task of actually finding that perfect new place to call home is a lot for anyone to take on. But as Minnesota first time home buyer specialists, there’s nobody better to help guide you through the process and ensure you make all the right decisions along the way. But before you get started, let us first provide you with a little more information about buying a home for the first time in Minnesota below:
Common Loan Options For Minnesota First Time Home Buyers
- FHA LOAN - Perhaps the most common home loan for first time home buyers, FHA loans require only 3.5% down, and the maximum loan amount is as high as $365,000.
- VA LOAN- Specifically designed for veterans and armed services personnel, VA loans offer the advantage of zero money down and often include a rate that’s much more favorable than conventional financing.
- USDA RURAL DEVELOPMENT PROGRAM - Did you know that 97% of the country is designated for rural purposes, allowing the USDA Rural Development Program to be a much more realistic home loan option than you may think.
VIEW MORE FHA HOME LOAN RESOURCES
Interested in learning more about FHA loans as a first time home buyer in Minneosta? See what else there is to know about FHA home loans for first time home buyers and whether it might be the right option for you.
VIEW MORE VA HOME LOAN RESOURCES
If you’re a veteran living in Minnesota and are looking for affordable ways to finance your first home, take a closer look at what VA home loans have to offer and all the advantage surrounding this unique and helpful home buyer program.