One increasingly common financing option in Falcon Heights for Minnesota home buyers is available through the VA. This type of 
Falcon Heights mortgage financing has increased by about twenty per cent over the last few years due in part to the sheer number of our returning veterans. Additionally with the loss of other options for zero down payment loans in Minnesota, the VA offers a benefit that offers eligible buyers a unique opportunity to buy their home with no down payment.
Falcon Heights VA Loans: Not Just For First Time Home Buyers
Many veteran home buyers misunderstand the fact that they may use their VA eligibility benefit more than once. As a result veteran home buyers do not necessarily need to be a MN first time home buyer in order to get VA loans with zero down payment. This can be a perfect solution for veteran’s who own homes and who want to sell their home despite having minimal equity. Since Minnesota VA loans do not require a down payment they might be able to afford to sell their home without receiving any proceeds from equity in order to buy the next.
Falcon Heights Veterans First Step: Determine Your Eligibility
Veterans must determine two things to see if they will be qualify for a VA loan. First they ought to see if they will be eligible for a VA Certificate of Eligibility (COE). They can apply for the Certificate of Eligibility online or more simply right through their Minnesota mortgage banker. There are several categories for eligibility and I encourage veterans to check with the VA or to research their eligibility online
It is important to note that he Certificate of Eligibility offers a guarantee to the lender which compensates them for a portion of their losses in the event of foreclosure This guarantee is paid for by the veteran in the form of the VA funding fee which is commonly financed within the mortgage loan. The funding fee is waived for veterans who have experienced service related disabilities.
The second thing a Falcon Heights veteran should determine is if they can get prequalified for a VA loan. I encourage all Minnesota veterans to get preapproved for MN VA loans before we go out shopping for a home. By going through the preapproval process the banker will review your financial situation to determine if you meet the requirements for VA financing. This critical first step is usually free and requires no commitment on the part of the veteran. In fact many MN VA lenders will do this right over the phone.
Falcon Heights Community Information
The lovely City of Falcon Heights is conveniently located just a little north of the city ofSt. Paul in Ramsey County. Known as the home of the Minnesota State Fair, the city of Falcon Heights is also known to be the best educated city in Minnesota with over 70% of its residents having bachelor’s degrees. First time home buyers may benefit from Ramsey County’s First Home down payment assistance program. With convenient access to the University of Minnesota and downtown St. Paul residents of the city have all the benefits of metropolitan living. If you want to buy a house or sell one in Falcon Heights please give me a call!
Falcon Heights Veterans: Are You Ready To Buy A Home?
If you are a Falcon Heights veteran and want to buy a home feel free to give me a call or send me a quick email. Whether you currently own a home or are looking to buy your first home, Falcon Heights VA loans can be a great way to buy a home. With record low rates and reduced home values many vets have found that it is cheaper to buy than to rent!
Shawn Hartmann
Licensed Realtor in Minnesota
Keller Williams Realty
shawn@hartmannteam.com
Direct 651-468-9099
2680 E Snelling Drive North
Roseville, MN 55113
With a focus on Saint Paul Homes for Sale
Showing properties
1 - 5 of 14.
See more city of Falcon Heights real estate.
(all data current as of
5/19/2012)
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$347,500 : 1835 Arona Street, Falcon Heights4 beds, 3 full, 2 part baths
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$128,500 : 1598 Hollywood Court, Falcon Heights2 beds, 2 part baths
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$399,900 : 1485 Hoyt Avenue W, Falcon Heights5 beds, 2 full, 2 part baths
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$525,000 : 1564 Vincent Street, Falcon Heights3 beds, 3 full, 1 part baths
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$199,000 : 1758 Maple Court, Falcon Heights2 beds, 2 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Travis Olson
Travis Olson graduated with a Bachelor of Science degree from Mankato State University. Travis began his Real Estate career in 2005 and with innovation of cutting edge systems and business models has become a valued resource for Keller Williams Realty.
