Minneapolis Down Payment Assistance

Minneapolis Down Payment Assistance

Own Your own Home!

The City of Minneapolis, in partnership with Minnesota Housing,  the Minnesota Homeownership Center, and Mortgage lenders like us here at Mortgages Unlimited are getting together to provide access to down payment assistance, quality, affordable mortgages and free, non-biased housing experts that can help you become a successful home owner!

Maybe you’ve thought homeownership wasn’t possible, or you didn’t know where to start. Maybe you thought your credit wasn’t good enough or you haven’t saved enough for a down payment. We can help!

Down Payment Assistance – Homeownership Opportunity Minneapolis

The City of Minneapolis wants to make affordable homeownership a reality for you. The City is providing up to $7,500 to qualified buyers to cover down payment and closing costs when purchasing a home anywhere within Minneapolis city limits. To qualify for this program, you must meet the following income eligibility requirements:

  • Homebuyers with household income up to 115% of the area median income (currently $99,500) are eligible for up to $5,000
  • Homebuyers with household income up to 80% of the area median income (currently $69,280) are eligible for up to $7,500.

Quality, Affordable Mortgages

Minnesota Housing, the State’s Housing Finance Agency, offers mortgage loans for first-time homebuyers with affordable interest rates. Our Minnesota Housing loans work seamlessly with down payment assistance products like those offered by the City of Minneapolis.

How To Get Started

Your first step is to apply for the mortgage loan itself. Your Mortgages Unlimited Loan Officer will review the application, your credit, etc.  They will discuss with you if you qualify, how much house you can afford, what the payments might look like, and what assistance you may qualify to receive. Click HERE to apply online (easiest) or call (651) 552-3681.

If that all looks good, you will need to submit standard loan documentation, which includes photo id, last two pay stubs, last two bank statements, and the last three years of W2’s and federal tax returns.

If that still looks good, you will be issued a Pre-Approval Letter, put in touch with a high quality Real estate Agent agent, and sent out to find your dream home.

In between the initial approval and closing on your new home, you will need to take the homebuyer education class listed next.

You do not have to have perfect credit, but you can NOT have BAD credit. All applicants must have a middle credit score of at least 640.  Next, while you are receiving assistance, you can’t buy a home with no money.  You must have at least $1,000 of your own money to put into buying the home.

Homebuyer Education

If you are a first time home buyer, this program from the City of Minneapolis, just like all first time home buyer programs requires all first time homebuyers to attend home buyer education.

There are two options:  Attend a physical 8-hour class (Home Stretch) or take an online class (Framework Classes). Click the links below for more information of the required training.

Sign up for HOME STRETCH: In-person workshop  Your first time homebuyer class can be taken in person in multiple locations throughout the state. The cost of this class is typically $25.

Sign up for FRAMEWORK: Online Education An online homebuyer education class can be started and stopped, and finished at your leisure. The cost of this training is $75. Most people take the online training.

When Your Class Is Completed: Print your Certificate of Completion and give  a copy to your Loan Officer

More Information

Contact:

Joe Metzler, Senior Loan Officer. NMLS 274132

(651) 552-3681

www.MNHomesAndLoans.com

 


Top 100 Loan Officer 2015

Mortgages Unlimited’s Loan Officer Joe Metzler, out of their St. Paul, MN Office, has been recognized as one of the Top 100 Loan Officers in the Nation by Origination News, coming in at number 98. Read the list at http://tinyurl.com/ljqqkbj

Top Loan Officers 2015This is another is an ongoing set of accomplishments for Mr. Metzler, as he was also recently named the Minnesota Mortgage Associations 2014 Loan Officer of the Year.  Joe Metzler has been a top producing Loan Officer for Mortgages Unlimited since 2000, and has over 20-years industry experience.  Joe has received other awards in recent years in recognition of his outstanding service and dedication to the mortgage industry, including:
  • 2011 – Top 40 Most Influential Mortgage Professions to Watch (NMPM)
  • 2010 – Top 150 Loan Officers in the Nation by Dollar Volume (Origination News)

Joe Metzler is a certified MMS (Minnesota Mortgage Specialist). Less than 1% of Mortgage Loan Officers in Minnesota have completed the requirements to earn this designation. This is just one of many ways that shows Joe’s dedication to his career.  His track record is exceptional by any standard. He believes in doing the job right the first time and providing a service you can depend on.

If you’d like to have Joe as your Loan Officer, he is licensed in MN, WI, and SD. He can be reached at (651) 552-3681, or you can apply on his web site


2014 Minnesota Loan Officer of the Year

Mortgages Unlimited’s Loan Officer Joe Metzler, out of their St. Paul, MN Office, was awarded 2014 Minnesota Mortgage Association’s Loan Officer of the Year.

MN 2014 Mortgage Loan Officer of the YearHe was presented with the award at the MMA Annual Holiday Event on December 9th, 2014.

This is a huge accomplishment for both Joe, as there are over 100 companies included in the MN Mortgage Association.  Joe Metzler has been a top producing Loan Officer for Mortgages Unlimited since 2000, and has over 20-years industry experience.  Joe has received other awards in recent years in recognition of his outstanding service and dedication to the mortgage industry, including:

  • 2011 – Top 40 Most Influential Mortgage Professions to Watch
  • 2010 – Top 150 Loan Officers in the Nation by Dollar Volume

He is a certified MMS (Minnesota Mortgage Specialist). Less than 1% of Mortgage Loan Officers in Minnesota have completed the requirements to earn this designation. This is just one of many ways that shows Joe’s dedication to his career.  His track record is exceptional by any standard. He believes in doing the job right the first time and providing a service you can depend on.

If you’d like to have Joe as your Loan Officer, he is licensed in MN, WI, and SD. He can be reached at (651) 552-3681, or you can apply on his web site.


Technology for Realtors – Are you being left behind?

Are you an old dinosaur Realtor, or do you use all of today’s advanced technology? Watch today’s video, then get you own free gift of technology for your iPhone, Blackberry, or Android phone from Joe Metzler at Mortgages Unlimited.


FHA extends foreclosure rules for the unemployed

FHA has announced they will allow unemployed homeowners up to one years time before they start foreclosure. Up to one year forebearance is now allowed. Learn more – watch the video!