Federal regulators are considering reducing the down payment requirements for a handful of mortgage products backed by Fannie Mae and Freddie Mac. The proposal would lower payments from 5 percent to 3 percent in an effort to improve home sales nationwide.
We are talking about the difference between condominiums and cooperatives. As we said in our last post, buying a condominium is very similar to buying a single-family house. There is a purchase agreement, a mortgage, a deed, property taxes -- all the trappings of owning real estate.
Minnesota winters are legend, and this past winter was a prime example of just how bad things can be. The sub-zero temperatures and wind chills kept most of us inside for weeks on end. The second the mercury rose to 20, we emerged from our lairs, ready for outside seating and full of information from HGTV home renovation and residential real estate search and sale shows.
The Twin Cities apartment market has been doing well over the past few years. Add the demand for apartments to the low interest rate for mortgages, and you come up with a lot of opportunity for investors. The strong market means, too, that companies and individuals with just one or two properties can expand their holdings.