The city of West Saint Paul is located just south of the state capitol of Minnesota, Saint Paul. The city name is actually derived from the fact that it is on the west bank of the Mississippi River. As a fully developed inner ring suburb of St. Paul, the population of West St. Paul has remained stable at about 19,500 over the past 20 years. Located in Dakota County, Minnesota first time home buyers can benefit from the Dakota County First Time Hom Buyer's Program. If you're interested in buying or selling a home in West Saint Paul please don't hesitate to give me a call.
There are a variety of mortgage financing options that can may benefit you as a MN first time buyer. The most common today are FHA loans which only requires a 3 1/2% down payment on the home. 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.
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.
The first part in the process of buying a house is to get preapproved for mortgage financing. This simply means that you talk with a local lender who will review your financial situation. In doing so they can tell you what types of MN first time buyer programs you might be qualified for. This critical first part can be done over the phone and most lenders will even do this with you when you are off from work.
There may never be a better time to look into buying West Saint Paul 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 home buyers before and am glad to answer any and all of your questions. Simply give me a call or send me an email and we will see what might be possible!Kevin SuttonÂ