For First Time Home Buyers in the Minneapolis and Lake Minnetonka Areas
There has never been a better time to buy your first home
You’ve probably heard about the problems in the housing market. Falling prices, lots of sellers and not enough buyers. What you don’t hear about, however, is the incredible opportunity this market has become for first time home buyers, as well as individuals and families who have no home to sell but are looking to re-enter into home ownership. Here at The Sawicki Group we help first time home buyers navigate the market and find the right house for the right price. 
Money is available to lend and interest rates have fallen steadily in the past month. And are now the lowest in history! If you have ever thought about owning a home, now is a perfect opportunity to do so. Inventory is high and sellers are aggressive, willing to make concessions to home buyers they normally wouldn't in past years. There is a tax incentive of $8000 in place for first time home buyers (or those who have not owned a primary residency in the last 3 years) who close by April 30th, 2010. There are many grant programs available targeting first time homebuyers, homer rehabbers, single parent families and more. This means most first time homebuyers can buy their first home with little money down, and in many cases can even remodel and repair with no money out of pocket.
Home Ownership builds wealth and is the key to financial independence
It is the foundation of wealth and is an investment in the future. Every rent payment you make goes to pay someone else’s mortgage and property taxes, or simply gets deposited in their bank account. Every mortgage payment you make goes towards the equity in your home, building you and your family wealth and giving you financial security and piece of mind.
Many West Metro Renters can easily afford their own home
The chart below gives a rough estimation of how much house you can afford based on your monthly rent.. The PITI stands for Principle (as in the money owed for the house) Interest (for the money borrowed to pay the loan) Taxes ( the yearly property tax) and Insurance. PITI is what homeowners pay instead of rent. Notice that as interest rates drop, purchasing power increases, and with today’s low rates and oversupplied market the purchasing power of buyers has never been better.
Let us help you make the right moves
With the backing of Coldwell Banker Burnet’s home buyer’s services and years of experience, The Sawicki Group can make your aspirations of home ownership a reality. Whether you are a first time home buyer, looking to move up and sell your home or looking for a spot to build the house of your dreams we will work hard and assist you every step of the way to insure a smooth, stress free home buying experience.
This spreadsheet is a rough estimation only, and should not be used as a financial guideline. Contact us for a free consultation with a licensed and reputable loan officer to see what you may qualify for.
For more information, please submit the form located at the bottom of this page. Or send us an e-mail at jsawicki@cbburnet.com.
