8 Steps to Getting Your Finances in Order

1. Develop a family budget. Instead of budgeting what you’d like to spend, use receipts to create a budget for what you actually spent over the last six months. One advantage of this approach is that it factors …

For many aspiring homeowners, saving for a down payment is one of the biggest hurdles to homeownership. Are you looking for Down Payment assistance or know someone who could benefit?

The good news? Down payment assistance (DPA) programs are available to help bridge the affordability gap. But how do …

Getting Ready for Closing (Settlement) 

Lots to do and so little time! Everything that you need to know but are afraid to ask about the title search and title insurance, utility connections, property insurance, the final walk-through, review of the settlement statement, and the actual transfer of …

A purchase offer establishes the proposed terms for buying property, including price, timing, contingencies and other negotiated obligations.

Start with price and closing logistics

Review the offer price, earnest money, closing and possession dates, property tax and special assessment treatment and personal property included.

Understand financing-related terms

Discuss loan options …

Find a Home 

How much home can I afford? What are my Needs, Wants, and Dreams? Rural or City? Which neighborhoods? Here’s what the process involves, from drive-bys to finding the home that’s got “your name on it”!

Once you have contacted a lender and are …

Midwest Realty of Minnesota provides residential and commercial brokerage services across the Twin Cities. Representation and agreed services depend on written agreements.

Agency and representation

Before signing, review the applicable agency disclosure and understand who the brokerage represents. Written representation agreements establish scope, duration and obligations.

Services for buyers

A …

Compare mortgage lenders based on total loan costs, qualifications and reliability instead of assuming the first quote offers the best terms.

Prequalification versus preapproval

Prequalification is often a preliminary estimate. Preapproval generally involves more documentation, but final approval still depends on underwriting, appraisal and other conditions.

Compare written estimates

Ask …