Joe Bydzovsky
Branch Manager
As an experienced loan officer, my goal is to provide you with individual solutions tailored to your specific needs. I review all the details and objectives with you to ensure that everyone is on the same page. I want my customers to remember the smooth process long after the closing is completed. I have access to a large variety of financing options designed to meet the needs of the first-time homebuyer as well as the experienced owner. By providing in-house origination, processing, underwriting and funding services, I can ensure that your loan will be completed accurately, smoothly and in the loan that best meets your needs. This positive experience is why past customers, real estate and financial professionals continue to refer me to friends, family, clients and co-workers. I believe you will too!
Marketplace Approved
There’s a difference between getting pre-approved & getting Marketplace Approved. Our pre-approvals go through certified underwriting up front to give all parties the certainty of closing and closing ON TIME.
5 Day Loan Commitment
Want to make your offer more attractive? Get a complete commitment from underwriting in 5 days with or without a house with our UFirst 5 Day Loan Commitment!
On-Time Closing Guarantee
If we are unable to close your purchase on or before your scheduled closing date, we will pay for your first mortgage payment up to $1,500 P & I AND the seller of the property will also be paid $5,000. *See terms and conditions.
Interest Rates Vs. Affordability
Rising interest rates can make the difference between locking in the home of your dreams today or being locked out tomorrow!
THE MARKETPLACE HOME MORTGAGE BLOG
No Down Payment & Low Down Payment Mortgage Options
One of the biggest perceived obstacles to homeownership today is the mortgage down payment.
According to the National Association of Realtors, 80% of home buyers think they need 10% or more down to buy a home – and that is simply not the case! (NAR, 2017) There are many programs out there that range from ZERO to 3% down, here are some of the options available to both first-time and repeat buyers:
USDA HOME LOAN / RURAL DEVELOPMENT – ZERO DOWN PAYMENT
Anyone looking outside of the metro should consider this loan. With ZERO money down, low rates, and no mortgage insurance, the affordability of a USDA loan is almost unmatched in the mortgage market. Home buyers must make 115% or less than the area’s median income. Example: If the median income is $50,000 per year you can make up to $60,500. To see if an area you’re interested in is eligible click here.
VA HOME LOAN – ZERO DOWN PAYMENT
This is a ZERO down mortgage option for home buyers with current or former military service. It is often the top choice for those eligible because it offers 100% financing and does not require great credit. With no monthly mortgage insurance, and low rates, this is often the best loan option for members of the military and National Guard.
FHA HOME LOAN – 3.5% DOWN PAYMENT
About 40% of home buyers under 40 use FHA loans. This loan is best for those who don’t want to put a lot down, but still want great rates and flexible credit requirements. The down payment required is 3.5% AND 100% of the down payment can be a “gift” from family or friends.
HOMEREADY HOME LOAN – 1-3% DOWN PAYMENT
This loan considers the income of everyone living in the house as part of the qualification process – this includes people who rent from you, parents, or children. For eligible buyers, it could be possible to get into the home you have your eye on for as little as a 1% – 3% down payment.
Although lower down payments generally have restrictions of some kind (like mortgage insurance or location-based eligibility), it is still reassuring to realize that you have options other than a conventional loan. Even if you don’t qualify for 100% financing or don’t have enough for 3.5% down, down payment assistance is also available. If you want more information or would like to see if you qualify for any of the loans mentioned above, get started today! If you are not already connected with a Marketplace Loan Officer, we will put someone in touch who can help you understand and weigh your options.
Source: “NAR 2017 – Research and Statistics.”, The National Association of Realtors, 7 June 2018, www.nar.realtor/research-and-statistics.
USDA Announces New Income Limits in Minnesota
On Wednesday, June 13th, new income limits went into effect for USDA loans in Minnesota. These household income limits vary by region and help determine eligibility for rural development home loans. There are many benefits to USDA loans, the most notable being that they don’t require a down payment. You also may be surprised to discover where they are available.
To learn more about the new limits in your area and what they mean for home buyers, contact a Marketplace Home Mortgage Loan Officer today.
Source: www.RD.USDA.COM/MN
*Data for 1-4 person households
Misconceptions On How To Win An Offer
Right now, everywhere you turn there are multiple offers over list price. It is crucial the Buyer, Mortgage Lender, and Realtor® understand the area and how to conduct multiple offers to WIN. Here are a few misconceptions many people believe are true when understanding how to win an offer: READ MORE