Minnesota Home Mortgage

Minnesota Mortgage Rates has supplied the miscellaneous real estate articles below to help you with your mortgage transactions. Many of these topics are unique loans or tips that you can get help with at Minnesota Mortgage Rates, please feel free to call or apply now.

Minnesota Mortgage Rates can do VA Loans, in fact Matt Jensen the owner of Minnesota Mortgage Rates in combat veteran. He served in Iraq in 2003 - 2004 with the 142nd Engineer Combat Battalion. He is also an avid real estate investor and can relate to investors of residential property and has many products to serve them.

To the right is a real life example of the Option Arm or 1% payment loan that Minnesota Mortgage Rate offers. This loan is very good for both investors and home owners that want lower payments. I would not recommend this loan for anyone that owes close to 100 % of the value of their property unless they are in a high appreciation area.

Option Arm ( 1% Payment Loan Example)

Please read the article of Option Arms before you look at this example to help you understand the loan better.

Property Value = $220,000.00

Loan Amount = $ 176,871.55

Minimum Payment = $902.23 (Does not pay all interest off every month and the unpaid interest is added to the principal balance.)

Interest Only Payment = $ 1,029.87 (This is the payment you would make to keep your balance the same.)

Full Principal and Interest Payment = $1,200.00 (This is the payment that would pay the loan off in 30 years.)

Full Principal and Interest Payment = $1,735.07 (This is the payment that would pay the loan off in 15 years.)

Interest Rate = 6.98% (This is a variable rate and will change every three months)

Unpaid Interest for this month would be $902.23 - $ 1,029.87 = $ 127.64

This would be added to the principal balance and I would be able to deduct this interest when I refinance or sell the property.

Contact

Matt Jensen
1748 Heron Lane
Mound, MN 55364
Telephone: 763.229.8436
Fax: 952-216-0046
mjensen@diversifiedlender.com

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