RESPA Requirements

Many people have never heard or RESPA, especially when they are completing a real estate transaction, but it is very important to know what your rights are under it. It is a federal law so states, and cities, like Minneapolis, are not exempt from its rules.The Real Estate Settlement and Procedures Act was enacted by

The Good Faith Estimate, Part 1

When you apply for a loan, the loan officer is required to provide you with what is called A Good Faith Estimate. The name says directly what it is, an estimate of charges you, the buyer, will incure for closing the loan.Two terms that are always on the estimate, but sometimes never charged are the

Funding your Fixer-Upper

When it comes time to start the remodeling process for your Minneapolis home, the biggest obstacle is deciding how to fund it. Not everyone has equity built into their home, which would help offset costs, so here are a couple ways to pay for your next real estate project.Cash-Out Refinance - the best choice if

An Unconventional Truth

The truth is, there are more mortgage options available to buyers than just the typical 30-year fixed loan. Known as "unconventional mortgages", buyers should know the additional options available. Please remember,they may not work for you, and to check with your lender about personal pros and cons.40-Year Fixed - these loans offer fixed rates with