Have you already been pre-approved for a mortgage? These days the Twin Cities real estate market is moving fast. So when you find a home you like, you may want to move quickly to make an offer. Having a pre-approval already in place will put you ahead of the crowd. You may also want to consider making a downpayment to help lower your monthly payments. We can help you find a mortgage that is right for you.
In today's real estate market you may need a certain percentage of the purchase price of a home for a down payment. Over the years, new and innovative programs for loans have been created which may need only 5 percent or even less. There are even options that can allow purchasers to buy with nothing down.
In addition to a down payment you will also need money for closing costs. These are the expenses that the financial institution charges for the administration of creating your mortgage. There are programs that not only eliminate the need to come up with a down payment but also include the closing costs as well.
Closing cost may even be negotiated to be paid by the seller of a home.
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