Conveniently located in Hennepin County, Edina is a beautiful first-ring suburb of Minneapolis. As a fully established community, the population has remained stable at around 47,000 over the past 40 years. While large employers such as Jerry's Foods and Fairview Southdale hospital are here, many residents enjoy an easy 20 minute commute to downtown Minneapolis. While often considered one of the most affluent communities of the Twin Cities, MN first time home buyers may be interested in one of the Edina's downpayment assistance programs which offers up to $60,000 to qualified buyers. If you are interested in buying or selling a home in Edina please give me a call.
There are a lot of resources in the great state of Minnesota for our first time home buyers. Were you aware that the state of Minnesota offers mortgage financing programs designed exclusively for first time home buyers through the Minnesota Housing Finance Agency? Commonly known as MHFA, this state agency provides home mortgage financing through Minnesota mortage brokers at special interest rates along with possible down payment assistance programs. Expanded credit parameters in the program are also helpful to many first time home buyers. Minnesota Housing Finance Agency works with typical home loans such as VA loans, 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 MN first time home buyers the big, intimidating question is where do I start the process? Your very first step to home ownership is to get preapproved for a mortgage. By doing so you find out how much you are qualified for so that we can search for homes in the right price range.
Today's housing affordability index is so low it makes it a great time to buy Edina homes for sale. 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 MN first time buyers before and am always eager to answer all of your questions. Simply give me a call or send me an email and let's see what might be possible!Robert Phyle,CSP,GRI,RSA