Have you been hearing about all the people who have bought their first home in the past few months? Are you simply tired of paying for the mortgage payments someone else's home? By that I mean your landlords! If you are, then you may want to consider buying your first home in Bloomington. With historic low mortgage rates along with special MN first time home buyer programs, monthly payments haven't been this affordable in years.
The City of Bloomington, MN is the 5th largest city in Minnesota and lies within the boundaries of Hennepin County Bloomington's beautiful residential neighborhoods include higher-priced households in the Bush Lake area as well as traditional middle-class homes in its rows of single-family homes in the central to eastern areas. With a stable economy, Bloomington actually has more jobs per capita than either the cities of St. Paul or Minneapolis. Major employers such as Toro, Ceridian, Donaldson Company and Health Partners have their headquarters in Bloomington. With an extensive Park and Rec department there is always something to do in Bloomington, MN!
There are a lot of resources in the great state of Minnesota for first time home buyers. Did you know that Minnesota offers financing programs designed as a stimulus for first time home buyers through the Minnesota Housing Finance Agency? Commonly known as MHFA, this state agency provides home mortgage financing through local Minnesota mortage companies at reduced interest rates along with possible down payment assistance programs. Expanded credit parameters in the program are also helpful to many MN first time home buyers. Minnesota Housing Finance Agency (MHFA) works with traditional mortgage financing such as VA mortgages, FHA loans, and conventional mortgage financing.
In addition to State of MN down payment assistance funds many local communities offer programs of their own as well. Each of these programs vary in terms of qualifications required to access the funds. Depending upon when you are reading this these programs may or may not be funded so we can check on it when you call me.
For many Minnesota first time home buyers the big question is where do I start? Your first step to home ownership is to get preapproved for a first time buyer's mortgage. By doing so you find out how much of a loan you are qualified for so that we can research homes in a price range with comfortable payments for you.
Considering the great rates and reduced property values this is a great time to look into buying Bloomington real estate. If you are tired of throwing your money away on rent, take this opportunity to learn more about the benefits of buying your first home. I've worked with many first time home buyers before and am glad to answer any and all of your questions. Simply shoot me an email or give me a call and we will see what might be possible!
Sales Executive, Licensed Realtor in Minnesota
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.