Down Payment Assistance – Call Mark at 612-209-7922

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Most people don’t realize that federal, state and local governments provide hundreds of millions of dollars to help homebuyers. These programs are not well-publicized and they are often complicated and confusing for loan officers and real estate professionals to figure out. Sometimes there are income restrictions, sometimes not. Sometimes you have to be a first time buyer….. sometimes not. We have done the research and have the experience as one of the top lenders as recognized by the state finance agency who makes many of these loans available.

My goal, as a mortgage lender, is to help my borrower take advantage of these programs to achieve home ownership – and I have great relationships with real-estate agents who also know and understand these loans. Often, mortgage brokers and banks shy away from these complex loan programs because they are less lucrative, require additional paper work, and keeping up with changes is just too much for most to deal with. Mark Svihel is committed to helping expand home ownership throughout the state and we know they are truly great loans! In many cases we help people get into their home for as little as $1,000 out-of-pocket!

Why not work with a mortgage loan originator who believes you should get as much help as possible to buy your new home?

Grants $5,000 & $4,000

Please call Mark Svihel at 612-209-7922 for more details!

Down payment and Closing Cost Assistance Loans

Loans available for up to $15,000 for down payment and closing costs
Borrowers must also get a Minnesota Housing first mortgage loan

Monthly Payment Loan

Must be used with Start Up, Step Up or MCC (with first mortgage)
Loan amount up to $15,000.
Minimum 640 credit score

Start Up or Step Up home cost limits

11-County Metro: $310,000
Balance of State: $265,000
Meet income limits
10-year loan term with monthly payments, interest rate equal to first mortgage rate
Requires homebuyer education if using Start Up

Deferred Payment Loan

For first-time homebuyers only, must be used with Start Up
Loan amount up to the greater of $8,000.
Minimum 640 credit score

Start Up home cost limits

11-County Metro: $310,000
Balance of State: $265,000
Meet income limits
Loan term equal to first mortgage term with 0% interest, repaid when property is sold, refinanced, or is no longer primary residence
Homebuyer education required

 

Do you have additional questions for Mark? Call or email Mark today.