Minnesota First Time Home Buyer Real Estate Blog

How to Find a Lender that Offers Down Payment Assistance

First-time homebuyers often approach us to ask whether they can use two separate lenders to finance their deal. Generally, this is so that they can make use of a down payment assistance program the lender they were pre-qualified with doesn’t offer. Unfortunately, this isn’t possible. Not every lender is approved to offer these programs, which is why it’s so important to research any professional you’re considering hiring before you begin working with them. Our team has a list of local vendors who we’d be happy to recommend to you, so please reach out if you have any questions.


How Essential Is a Good Credit Score When Buying?

We’re often asked whether credit score plays a role in the type of financing that you can get, and the answer is: It really depends. For first-time homebuyers, a lot of you will depend on down payment assistance programs and it probably won’t have a huge impact on your interest rate. If you’re buying a second or third home, however, your credit score could have a much larger impact.