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Scott Schultz's Blog

By Scott Schultz | Agent in Apple Valley, MN
  • How To Buy a home in Rosemount

    Posted Under: Home Buying in Rosemount, Financing in Rosemount, Property Q&A in Rosemount  |  August 22, 2011 6:09 AM  |  435 views  |  No comments
    Do you want to learn about how to buy a home in Rosemount? Learning how to buy a home can be confusing for many buyers, especially for the MN first time home buyer. As this process can be quite complext I would like to take a moment to share with you some basic tips of how best to accomplish your goal.

    How To Buy A home in Rosemount

    Most home buyers begin their search on the internet, of course. There are many ways to accomplish this but a good place to start is to use the search engine on my website. There are thousands of real estate sites out there but you will soon find that many lack all of the important details when searching for a home. National real estate websites do not show the annual property taxes due for each of the Minnesota real estate listings which is one of the biggest factors your lender will need to determine what your monthly payments will be.

    Search for a home in Rosemount on my website

    When you start for your search for homes in Rosemount on my website you will find all of the listings that are on the market from all of the real estate companies in the Twin Cities area. Through the use of the Multiple Listing Service (MLS), my property website will offer you complete details from every company. I can also set up a specific MLS search for you so that I can email listings in your price range as they come available.

    Get Preapproved To Buy A home in Rosemount

    How will you know what kind of price range you should be searching for? In order to know what kind of monthly payments you will have for a home in Rosemount you will need to get preapproved for mortgage financing. This is the important first step in the process for how to purchase a home in Rosemount Since there is no cost or obligation when you get prequalified by one of our local MN mortgage lenders, you should do this right away so that you can clear any roadblocks there might be in the process of getting a home loan.

    Let's go look at homes!

    After you have been preapproved I will take you out for showings on homes in your price range. I usually suggest that we look through at least 15 or more of these before you make your offer to buy one. By doing a thorough search you will know homes that are a good value to buy. When a listing comes available meeting your needs you should be ready to make your offer since properties now sell fast.

    After the purchase agreement, and before closing

    Once you have decided to make your offer it usually takes about 30 or longer before you go to your loan closing to finalize the purchase of your home. During this time your mortgage lender will collect all of the documentation that they need from you to finish your loan approval. Additionally they will order an appraisal on the home to make sure the price of the home you are buying is in line. They will also order a title policy from a title company to make sure the title to your new home is clean.

    Closing on your home

    After you receive your complete loan approval from your lender you will be ready for closing on your home in Rosemount. At the loan closing everyone gets together to sign documentation, exchange funds, as well as to exchange house keys, etc. After you have gone through closing on your home you are ready to move in!

    Rosemount, MN as a Community

    The City of Rosemount continues to build on its small town character through neighborhood, school, and community activities. The Rosemount Park and Rec offers a wide variety of fun and leisure activities for any age. This is a peaceful community to raise a family in with a variety of high quality schools.

    Do you believe you're ready to start the process of looking for homes? Please just send me an email or give me a call as I am eager to help you begin your search for a home in Rosemount!

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Golden Valley Houses For Sale And FHA Loans

    Posted Under: Home Buying in Golden Valley, Financing in Golden Valley, Property Q&A in Golden Valley  |  August 17, 2011 6:26 AM  |  496 views  |  No comments

    Golden Valley FHA Mortgages

    One of the common ways of financing a purchase of Golden Valley real estate is through a loan program known as FHA (the Federal Housing Administration). This federal program originated back in the 1930�s to help with a similar situation we have today when home foreclosures were growing rapidly. FHA loans have many advantageous guidelines for both the MN first time home buyer as well as the homeowner who is renting out their current home to buy another.

    While the days of the no down payment loan are largely gone, Golden Valley FHA mortgages offer the smallest down payments available in Minnesota. With a smaller down payment along with the seller paying much of the buyer's closing costs today allows the Minnesota home buyer to get in for a much more reasonable down payment. This is also a great advantage for Minnesotans who are selling their home with little or no equity and need to buy their next home with a smaller down payment than usual.

    FHA and Credit Scores

    FHA loans offer more expansive credit guidelines as well. Golden Valley home buyers who have some credit challenges may qualify for FHA whereas not a conventional loan. Additionally, unlike conventional loans which have significant pricing adjusters based on the home buyers credit scores, rates and discount points with FHA loans vary only slightly based upon the borrower's credit score.

    One important factor you should know about FHA loans is called assumability. This means that in the future when you are ready to sell, the new home buyer of your home may have an option to take over the payments on your loan and assume the obligations of the loan. This could be an attractive selling feature to your home if interest rates are higher when you put your house up on the market for sale. When a new buyer assumes your FHA loan they make up the difference between your sales price and your loan amount through a down payment.

    FHA Down Payment Assistance Through Minnesota Housing Finance Agency

    First time home buyers in Golden Valley may benefit through beneficial interest rates and down payment assistance through Minnesota's MHFA program. This state agency buys FHA loans and makes use of special program features which allow for second mortgages on the property to be used as a method of reducing the first time home buyers required down payment. While maximum income limits apply for this program, a traditional FHA loan does not have maximum income limits.

    First Step To Buy A Home: Get Preapproved

    For many Minnesota first time home buyers the big, intimidating question is where do I start the process? Your first step to home ownership is to get preapproved for a mortgage. By doing so you find out how much of a loan you are qualified for so that we can research homes in a comfortable price range.

    Golden Valley Information

    The fine City of Golden Valley is an inner ring suburb of the Twin Cities, lying on the western edge of Hennepin County. With major employers such as Tennant Company and Honeywell, Golden Valley is also has the corporate headquarters of General Mills. With an excellent city department for Park and Rec Golden Valley offers something to do for everyone. Just a short commute away from downtown Minneapolis homeowners of Golden Valley have access to a wide variety of employment as well as cultural activities. If you are thinking about buying or selling Golden Valley real estate please take a moment to call me.

    If you would like to learn more about buying a Golden Valley home using an FHA loan, please email me or give me a call. With great rates and low prices today, it is a great time to be a home buyer in Minnesota!

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Savage First Time Home Buyers Information

    Posted Under: Home Buying in Savage, Financing in Savage, Property Q&A in Savage  |  August 11, 2011 7:41 AM  |  468 views  |  1 comment
    Have you heard that this is simply one of the best markets ever for the MN first time home buyer, with monthly mortgage payments often lower than rent of a home equal in size? Well, if you haven't heard by now please take a moment to read the rest of my post.

    City of Savage, MN

    Developing now into a bedroom community to Minneapolis and Saint Paul, Savage has approximately tripled in size over the past two decades. Filled with affordable real estate for sale, Savage, MN has become a great spot to look for homes for the Minnesota first time home buyer. Conveniently located just southwest of Bloomington, owning a home in Savage, MN means you will have a half-hour commute to some of the biggest employers of Minneapolis. With a well developed Park and Rec program, it seems like there is never a lack for something to do for residents of Savage. If you're thinking of buying or selling Minnesota real estate, please call me and I'm glad to help!

    Financing Options

    There are a wide variety of programs that may benefit you as a MN first time buyer. The most common today are FHA loans which allow you to get into a home with as little as 3.5 percent down. A program designed for American's veterans are known VA loans, a program with as little as zero down payment. If you find a home with Fannie Mae's Home Path logo, you might qualify for their 3% down Home Path loan which does not require mortgage insurance. Your mortgage lender will help find the best program based upon your loan qualifications.

    Down Payment Assistance

    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.

    First Step In The Process

    For many MN first time home buyers the intimidating question is where do I start? Your very first step towards buying your first home 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 Savage homes for sale. If you are tired of throwing your money away on rent, take this opportunity now to learn more about the benefits of buying your first home in Minnesota. I've worked with many first time buyers before and am always eager to answer all of your questions. Simply shoot me an email or give me a call and let's see what might be possible!

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Burnsville FHA Loans: Financing To Buy Your Home

    Posted Under: Home Buying in Burnsville, Financing in Burnsville, Property Q&A in Burnsville  |  August 10, 2011 1:27 PM  |  536 views  |  No comments

    Burnsville FHA Loans

    One of the common ways of financing a purchase of Burnsville real estate is through a loan program known as FHA (the Federal Housing Administration). This federal program started back in the Great Depression to help with a situation like we have today when foreclosures were on the rise and buyers struggled to come up with a large down payment. MN FHA loans have several advantageous underwriting rules for both the first time home buyer as well as the homeowner who is renting out their current home to buy another.

    Burnsville FHA Loans: Not Just for First Time Home Buyers

    While the years of the zero down payment loans have gone away for most of us, Burnsville FHA mortgages offer the smallest down payments available in Minnesota. This along with the fact that most negotiated purchase agreements today involve �seller paid closing costs� allows for a much more achievable entry cost. The small down payments required by FHA is perhaps the biggest reason why so many Burnsville buyers use it today.

    FHA loans offer more expansive credit guidelines than other types of home financing. Home buyers who have struggled through some credit challenges may often find that homeownership is a possibility due to this excellent federal program. Unlike conventional loans which have big pricing adjusters based on the home buyers credit scores, interest rates and discount points on FHA loans vary only slightly based on credit scores.

    FHA and Non-Occupant Co-signers

    Burnsville FHA loans also allow a borrower to qualify through the use of a non-occupant family co-signer. Unlike almost loan programs, this means that if you do not qualify for the loan, you might be able to qualify if you add a co-signer to the loan, even if they are not going to live there with you. This feature of the FHA loan has been used much more often as many borrowers have struggled through reduced incomes and job losses in recent years.

    Burnsville first time home buyers also may benefit through beneficial interest rates and down payment assistance programs through the Minnesota Housing Finance Agency. This state agency buys FHA loans and makes use of special program features which allow for second mortgages on the home to be used for reducing the buyer's entry costs. While maximum income limits will apply for this loan through MHFA, many Minnesota first time home buyers are making use of these loans today.

    The First Step: Get Preapproved!

    For many MN first time home buyers the big question is where do I start? Your very first step to home ownership is to get prequalified for a home loan. By doing so you find out how much you are qualified for so that we can research homes in a comfortable price range.

    As the sixth largest city in the Twin Cities area, Burnsville, MN is an excellent bedroom community to both Saint Paul and Minneapolis. While going through a rapid population expansion from 1970 through 2000 and tripling in size to just over sixty-thousand residents, Burnsville is now fairly well built-out and its total population has stabilized over the past ten years according the 2010 census. Large employers in the city include Independent School District 191, Fairview Ridges Hospital, and Pepsi Cola but most residents work in the Twin Cities or surrounding suburbs. Burnsville, MN has homes for sale for both for the Minnesota first time buyer as well as the move up buyer.

    If you want to learn more about buying a Burnsville home using FHA financing, just send me an email or give me a call. With low prices and historically low interest rates on FHA loans it is a great time to buy in Burnsville!

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Burnsville FHA Mortgages: Buy A Home With An FHA Loan

    Posted Under: Home Buying in Burnsville, Financing in Burnsville, Property Q&A in Burnsville  |  August 9, 2011 6:10 AM  |  522 views  |  No comments

    FHA Mortgages in Burnsville

    Perhaps the most popular method of financing today in Burnsville is through FHA (the Federal Housing Administration). This program through the federal government started back in the 1930�s to help with a similar situation we have today when foreclosures were on the rise and buyers struggled to come up with a large down payment. Minnesota FHA loans have underwriting rules that benefit both the first time buyer as well as the homeowner who is selling one home to buy another.

    Burnsville FHA Mortgages: For Home Buyers and Home Sellers

    While the days of the no down payment loan are largely gone, Burnsville FHA mortgages offer the smallest down payments available in Minnesota. This fact along with the fact that most negotiated offers today involves �seller paid closing costs� allows you to get in for a much more reasonable entry cost. This is also a great advantage for Minnesotans who are selling their home with little or no equity and need to buy their next home with a smaller down payment than usual.

    FHA Offers More Expansive Credit Guidelines

    Burnsville buyers will also find that FHA loans offer more expansive credit guidelines as well. Home buyers who have experienced troubles with credit may more frequently qualify for a loan with FHA. Additionally, unlike conventional loans which have significant pricing adjusters based on the home buyers credit scores, rates and discount points with FHA loans vary only slightly based upon the borrower's credit score.

    FHA and Non-Occupant Co-signers

    Burnsville FHA mortgages also allow buyers to qualify through the use of a non-occupant family co-signer. Unlike almost every other mortgage program, this means that if you do not quite qualify for the house in Burnsville that you want to buy you can have a family member co-sign on the loan to strengthen your application. This feature of the FHA loan has been used much more often as many borrowers have struggled through reduced incomes and job losses in recent years.

    Burnsville first time home buyers also may benefit through beneficial interest rates and down payment assistance through Minnesota's MHFA program. This state agency makes use of FHA's special features which allow for second mortgages on the property to be used as a method of reducing the first time home buyers required down payment. While maximum income limits may apply for this program, many MN first time home buyers are making use of these programs today.

    Get Preapproved Today

    The first step in the process of buying a home s to get preapproved for your home loan. This means that you meet with a local mortgage lender who will review your financial situation. In this discussion they can tell you what types of MN first time buyer programs you might be qualified for. This important first step can be done right over the phone and most lenders will arrange to talk with you when you're off work, even in the evenings or weekends.

    As the sixth largest city in the Twin Cities metropolitan area, Burnsville is a popular bedroom community to both Saint Paul and Minneapolis. While going through a rapid population expansion from 1970 through 2000 and tripling in size to just over sixty-thousand residents, Burnsville is now pretty much built-out and its population has stabilized over the past ten years. Large employers in Burnsville include the Burnsville School District, Fairview Ridges Hospital, and Pepsi Cola but many residents find employment in the Minneapolis, St. Paul or surrounding suburbs. Burnsville has a wide variety of real estate for sale both for the MN first time home buyer as well as the move up buyer.

    If you want to learn more about buying a Burnsville home using FHA financing, please email me or give me a call. With great rates and low prices today, it is a great time to buy in Burnsville!

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Farmington homes For Sale: How To Find And Buy

    Posted Under: Home Buying in Farmington, Financing in Farmington, Property Q&A in Farmington  |  August 8, 2011 6:23 AM  |  456 views  |  No comments
    There are a few different ways to search for homes for sale in Farmington that I would like to tell you about. Since most home buyers start their home search on the internet, I find that many miss out on all of the possible opportunities to search for and find the right home. I would like to share with you some of the benefits and downfalls to each of the methods for finding homes for sale in Farmington.

    Finding Farmington homes For Sale On The Web

    One of the best places to begin is to visit my website to search for all of the available homes from all of the local real estate brokers, with all of the details available. The large national websites leave out much of the critical details such as property taxes of the home. However when buying a home factors such as property taxes are one of the biggest factors in determining the size of your monthly payments so why would you want to search for Farmington homes without such an important detail? Please take a moment to visit my website and begin your search for Farmington homes listed for sale today.

    Search for Farmington homes Via Email

    If you are currently searching for a Farmington homes, send me an email and tell me the specifics of the type of property you want. I can create advanced searches that will tell you not only what is available on the market via email, but also what has just become available. My software will instantly notify you with new listings that meet your specific search critieria when they become available on the market. Since I need to know the paramaters (such as 3 bedroom homes in Farmington between $150,000 and $200,000), please email me so we can begin the email search process.

    A bit of education can go a long way, doesn�t it? If you can get exactly what you need via email such as my customized search why would a home shopper need anything else? The strategy of Luck and Guesswork involves using the websites from the large national companies that offer limited information! Without utilizing a customized search to finding the listings that you want, I find that too many Minnesota home buyers rely on the strategy of Guesswork and Luck.

    Community Info About Farmington, MN

    Dakota County, many Minnesota first time buyers have used the Dakota County first time buyers program to buy a home in Farmington. If you are looking to buy or sell real estate Farmington, MN real estate please don't hesitate to give me a call.

    MN First Time Buyers First Step

    For many Minnesota first time home buyers the intimidating question is where do I start? Your first step to home ownership is to get preapproved for a mortgage. By doing so you find out how much of a loan you are qualified for so that we can research homes in a comfortable price range.

    Looking For Farmington homes?

    Please invest the time to properly understand the strategy you are using to search for possibly the largest investment that you will ever make. I encourage all home buyers that I work with to be proactive and to take control of the property search strategy! Come to my website and find all of the available Farmington listings.

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Looking For Farmington Rental homes?

    Posted Under: Home Buying in Farmington, Financing in Farmington, Property Q&A in Farmington  |  August 3, 2011 6:14 AM  |  474 views  |  No comments

    Farmington Rental homes: Advantages of Buying vs. Renting

    If you are searching for Farmington rental homes, let�s pause for a minute and consider the difference between renting homes versus buying. Since it is more expensive today to rent homes than to buy one isn�t it at least worth it to consider saving some money by buying a home?

    Farmington Rental homes: Is It Worth The Cost of Renting?

    Farmington rental homes, of course, typically have the advantage that you can get be released of a lease arrangement in about one year's time. This advantage comes at a cost, however, , in that your rental payments will often exceed those of a house payment. In addition, the security deposit for the rental may actually be more than the entry cost required for buying a home after considering all of the down payment assistance programs available. Finally, perhaps the highest cost in renting a homes is the fact that you are helping someone else buy their home with your rent payments helping to make the payments of your landlord.

    Still, the advantages of renting may be worth it to rent if you have plans on moving again at the end of your lease. I tend to think that if you buy a home today you should plan on staying in it for a few years while the market develops.

    Benefits To Buying Farmington homes for the First Time Buyer

    With all of the great benefits available to the MN first time home buyer today, this list of benefits is long. The State of Minnesota now offers special loan programs through its Minnesota Housing Finance Agency to offer reduced interest rates as well as down payment assistance. Additionally many communities today offer additional down payment assistance loans or grants that both reduce what you need for cash to close as well as reducing your monthly payment.

    First Step: Get Preapproved

    The first step in the home buying process s to get preapproved for your home loan. This means that you meet with a local mortgage lender who will review your financial situation. In the prequalification application they can tell you what types of Minnesota first time buyer programs you might be qualified for. This first step can usually be done right over the telephone and most lenders will even do this with you when you are off from work.

    Farmington, MN Info

    Dakota County, many Minnesota first time buyers have used the Dakota County first time buyers program to buy a home in Farmington. If you are looking to buy or sell Farmington, MN real estate please don't hesitate to give me a call.

    If you have not yet considered buying a home I would definitely like to talk with you about the benefits of both rental homes in Farmington versus buying a home. I offer a totally free consultation, with no obligation and am eager to help.

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.

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