Most Minnesota first time home buyers are totally surprised when I take them out looking for homes and show them the affordable Afton Real Estate. The fact is that the housing affordability index in Minnesota has not been this favorable in decades. While many renters have only heard the negative news about values in real estate, others have seen it from a completely different angle The combination of reduced property values and low interest rates make your house payments quite often lower than your rent payments. So if you would like to meet with me and talk about becoming a Minnesota first time home buyer, I'm eager to talk with you about the possibilities.

In order for you to take advantage of the great market values in today's market, there are three easy steps to get started.

Step 1: Finding Out What You Want

There are more things to consider when buying a home than simply the monthly mortgage payment. I will want to have a discussion with you what your short and long term goals are for buying a home. After I learn more about what you want to achieve we will talk about the all of the types of homes for sale, as well as how to get a great value. Depending upon when you want to make the move we will talk about whether you should consider buying a short sale, foreclosure, or traditional sale. After our discussion I will set up a listing search of all the homes that could possibly meet your needs.

Step 2: Get Preapproved For A Mortgage Loan

Before we start looking at listings, you need to talk with a mortgage banker. The only way to know what you will be able to afford for monthly payments as well as down payments, you will need to get preapproved for mortgage financing. When you talk with your mortgage banker, you will learn about all of the programs available for MN first time home buyers. Did you know that there are down payment assistance programs for that can help you put as little as $1,000 down? The only way to determine your eligibility is to get preapproved for a mortgage loan.

Step 3: Let's Go Look At Homes

Once you have been through the process of getting preapproved we can start looking at houses. After looking at so many homes on the internet, this is the fun part of the whole process. We will look at as many homes as it takes before you find the one that ideally suits your needs. Once we find one, your mortgage lender and I will guide you through writing an offer, finalizing the loan and closing on your home!

If you are looking for a true small town atmosphere in the Twin Cities area, you'll find your home in Afton, MN. With a population just under 3,000, you'll love the quaint main street in downtown Afton. This small town receives a fair amount of day-trip visitors year round due to being home of Afton State Park as well as Afton Alps, the largest ski area in the metro. Conveniently located in Washington County, Afton is a 20-25 minute commute from downtown St. Paul. If you're looking to buy or sell in Afton, MN, please give me a call.

Are you ready to get started with the process of buying your first home? Please take a moment to call or email me and we'll discuss what you want for your Afton home!

Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.

One of the most common methods of financing Afton real estate is through the use of FHA loans. This program through the federal government started back in the 1930’s to help with a similar situation we have today when foreclosures were on the rise and buyers struggled to come up with a large down payment. Minnesota FHA loans have underwriting rules that benefit both the first time buyer as well as the move up buyer.

Afton FHA Mortgages: For Home Buyers and Home Sellers

While the years of the zero down payment loans have gone away for most of us, Afton FHA mortgages offer the smallest down payments available in Minnesota. This fact along with the fact that most negotiated offers today involves “seller paid closing costs” allows you to get in for a much more reasonable entry cost. This is also a great advantage for Minnesotans who are selling their home with little or no equity and need to buy their next one with a small down payment.

FHA and Credit Scores

FHA loans offer more expansive credit guidelines than other types of home financing. Home buyers who have experienced troubles with credit may more frequently qualify for a loan with FHA. Additionally, unlike conventional loans which have significant pricing adjusters based on the home buyers credit scores, interest rates and discount points on FHA loans vary only slightly based on credit scores.

One interesting fact about FHA loans is that they are assumable. When you are ready to sell your home, the new home buyer of your home may have an option to take over the payments on your loan and assume the obligations of the loan. This would be especially beneficial if market interest rates are higher when you put your house up on the market for sale. When the buyer of your home assumes your FHA loan they make up the difference between your sales price and your loan amount through a down payment.

FHA Down Payment Assistance Through Minnesota Housing Finance Agency

Afton first time buyers also may benefit through reduced interest rates and down payment assistance programs through the Minnesota Housing Finance Agency. This state agency buys FHA loans and makes use of special program features which allow for second mortgages on the property to be used as a method of reducing the first time home buyers required down payment. While maximum income limits apply for this program, many Minnesota first time home buyers are making use of these loans today.

First Step: Get Preapproved for a Mortgage

One of the most important factors in buying a home is to get preapproved. Some buyers leave this detail it to the very last minute because it is the least fun part of the entire home buying process. It is always important however, especially for the MN first time home buyer to get preapproved for a mortgage before beginning the search for a home. Please call or email me and I will help you get started in the process with a MN loan originator.

City of Afton, MN

If you are looking for a true small town atmosphere in the Twin Cities area, you'll find your home in Afton, MN. With a population just under 3,000, you'll love the quaint main street in downtown Afton. This small town receives a fair amount of day-trip visitors year round due to being home of Afton State Park as well as Afton Alps, the largest ski area in the metro. Conveniently located in Washington County, Afton is a 20-25 minute commute from downtown St. Paul. If you're looking to buy or sell in Afton, MN, please give me a call.

If you would like to learn more about buying a Afton home using an FHA loan, please email me or give me a call. With great rates and low prices today, it is a great time to be a home buyer in Minnesota!

Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.

Based on information from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC.
For the period of January 1, 2006 thru December 31, 2007

It is a great time to buy a home and there are great deals in all price ranges available.
For more information about my services, guarantees or how I can help you find your next home,
sell your home, buy a business or investment property - Just call me today at 763-548-1418!

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