MN Mortgage Blog

 What is an FHA Loan?You've heard the name before, but did you know that FHA financing is one of the most popular ways to become a homeowner or refinance an existing mortgage. FHA's mortgage insurance programs help low- and moderate-income families become homeowners by lowering some of the costs ...

Choosing your loan with "APR" CAN COST YOU MONEY A borrower shopping for the best mortgage rate can easily be seduced by low rate offers that are accompanied by low annual percentage rates (APR). Federal law requires that APR be disclosed along side the actual interest rate as a means to help bor...

NO COST LOANS - Good or Bad Idea? Read this, then decide... One of the most confusing areas for consumers in a mortgage loan transaction are closing costs. Here I'll explain the advantages and disadvantages of the highly advertised "zero cost" or "low cost "loans.First and foremost, there is no s...

Think BEFORE you break the lock on that great mortgage interest rateYou've locked yourself into a good mortgage interest rate for 30 days and you're happy. You expect to close a month from now on the house you want at a payment you can afford. Suddenly, interest rates start to drop and the rate y...

You Are Entitled To A Second Opinion Even If You Have Already Been Pre-Approved For Your Mortgage!Saint Paul, Minnesota: Imagine you have just found out that you have to have surgery and the procedure will be pretty extensive! Most people just wont take the doctors word any more. They seek out an...

BEWARE of the BAD "Good Faith Estimate"    Smart people know to shop a couple of different Mortgage Companies for the best interest rate and closing cost combination.Shop the Internet or local paper looking for great rates. Call a couple of lenders. Inquire about interest rates and programs. Sel...