The First Time Home Buyer Federal Tax Credit is definitely a topic of great discussion given that a buyer needs to have an accepted contract in place by April 30, 2010 and close anytime before June 30, 2010.  With the exception of those members of the military and government contractors that are currently deployed in service to their country, and we would all thank them for their sacrifice for our country, who will have an extended period to receive the FTHB (First Time Home Buyer) tax credit for up to one year after they return from their duty assignment, please consult with tax professionals concerning this extension for service members.

Hidden in the shadow of the Federal Income Tax Credit are the programs offered to home buyers right here in Minnesota.  I think it is about time that we focus a little on the financing programs offered by MHFA and these programs are not for just the First Time Home Buyer.  Long after the tax credit expires MHFA will continue to work and provide affordable housing financing solutions for working families.  They have several programs designed to help and even provide aid to buyers that might need help with down payment assistance, or money for closing costs and prepaid expenses.

Now I am going to give you the link to their website:  Minnesota Housing Financing Agency

Wow, did you go to MHFA’s website?   There is just a ton of information on this website about their programs, and great interest rates, down to 4.5% and that is FHA Fixed Rate 30 Mortgages.   Fix up rates, First Time Buyers, Developers, you soon find that all of this is just wonderful, but where do your fit in these programs?

First you start working with an experienced realtor who can help you find homes for sale, and real estate offered in the Eagan and surrounding areas.  That would be yours truly!  I would be happy to help you find that perfect home for you in the Eagan or surrounding area.

Second, you learn that MHFA is not a lender or loan officer from your realtor.  MHFA is a program that provide their programs to select mortgage lenders.  NO, not every loan officer is qualified to work within the MHFA programs.  The lenders that I work with have applied for and received approval to work with the MHFA programs.   And they have very qualified staff at helping you with the MHFA programs.

It is as easy as picking up the phone and calling my referral lenders and determining what programs offered by the MHFA you might be able to use in financing your home.  The parameters of the programs are somewhat interactive, and the absolute easiest way to see if any of these programs are for you would be to simply pick up the phone and calling one of my preferred loan partners:

Carrie Gaurrero – Cornerstone Mortgage Co. – Direct phone number:  952-808-2812

Ronny Loew – Waterstone Mortgage Corp, LandmarQ Group – Direct phone number: 612-424-6095

When using my services, you are free to use any lender of your choice.  However the reason I refer 100% of my clients to these lenders is based upon their professional knowledge and total commitment to 100% customer satisfaction.   If one of the MHFA programs is the best for you, then they will help you obtain that program and loan if possible.  Once they have your information that you provide over the phone, they can help you pick that program that meets your needs and best serves you as a buyer.

So get pre-approved by one of my excellent lender referrals, and then contact me to go shopping for that new home.  The market is going to be good for buyers throughout this spring and going into the summer.  If the Fed. Income Tax Credit program ends, please don’t let that discourage you from finding those other wonderful programs and interest rates that are offered by the top lenders in our area.

So give me a call, schedule and appointment in “Adventures in Real Estate” soon!!

Tags: Eagan Real Estate, home mortgage programs, MHFA financing, MHFA programs, preferred lenders