Minnesota places for rent: homes, town houses, condos, apartments
April 30th, 2010Minnesota for Rent and how it works
Minnesota for Rent and how it works
C: Job-Income Source
In order to qualify for a loan, the bank will require that you have a source of income
(Most landlords to rent, rent to own, or sell on a contract for deed will require income)
1. Part-Time job-2 year consistent history (can be different jobs, but 2 years consistent (hourly, [...]
B: Money Available
(Available for home loans only for a limited time until the money runs out)
-Ramsey County Down Payment
-Down Payment Assistance Crystal
-Brooklyn Center Grant Programs
-Anoka County Down Payment
-55106 Zip Code
-Greater MN Housing Fund
-Central MN Housing Fund
-East Edina
-Minneapolis Advantage
-55411 Zip Code Neighborhood Program
-MN Grant Assistance Programs
-Home Help Guidelines
-Grant Programs (Over 30+)
-MN Housing; MMP, [...]
PRESENT
A: Credit Score
Credit Score:
35 percent - An individual’s history of making credit payments on time
30 percent - The total amount of debt being carried along with available credit
15 percent - The age of an individual’s open credit lines (more history is better)
10 percent - The frequency with which someone applies for new credit
10 percent - [...]
This will important as to how long you need to have a job and your money before you can be pre-approved for a long. Please check our other posts for related topics.
B: Money Seasoned
HOME LOAN PROGRAMS:
-FHA-Sourced funds only, can have gifts funds or grant funds if qualifies
-FHA 203K (For rehabbers)
-VA-no seasoning requirements
-Conventional
-HomePath (Owner Occupied and [...]