Recently I met with Shane Hofmann of Edina Realty to talk about a common real estate concern many people have: What loan options are out there? There are many different loan programs that people may not know about, since a common misconception is that you’ll always need to put 20% down. The truth is that today, this is not longer the case. Shane has been working in real estate for 15 years, so he has a lot of experience and expertise. To hear what he had to say on the subject and to learn more about loan programs, watch my latest video.

By Chad & Sara Huebener

Chad and Sara are Executive Circle sales associates at Edina Realty and are committed to serving clients in a manner that is ethical and respects confidentiality without giving up the aggressiveness and tenacity it takes to get homes sold.

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Recently I had a conversation with Shane Hofmann of Edina Realty about an important subject in real estate: loan options.

Shane has been in real estate for approximately 15 years, and has been with Edina Realty for about six. In that time, he’s gained a lot of experience and expertise.

One of the questions he hears people ask most often is about what their loan options are. There’s a common misconception that in order to get a house, you have to put 20% down.

These days, this simply isn’t the case. In today’s market, you have several options available to you.

“In today’s market, you have several loan options.”

The VA loan, for example, allows veterans to go in with zero down. For people buying their first home, a good option is the FHA loan—which allows you to put as little as 3.5% down.

Even in the case of a conventional loan you can put either 3% or 5% down. Gift funds, too, can apply.

To work with Shane and his team, the first thing you’ll need to do is fill out an application. This can be done online or in person.

If you’d like any other information or have any other questions, feel free to give me a call or send me an email. I look forward to hearing from you soon.

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