“Going, Going . . . Gone”

According to my office’s in-house mortgage lender — Steve Mohabir of Edina Mortgage — the cupboard is almost bare at Minneapolis’ loan program for first-time Buyers, called Minneapolis Advantage.

Specifically, only 4 loans are left out of 100 originally made available.

According to Mohabir, other municipal loan programs around the Twin Cities are facing similar issues. The result is, the burden is on borrowers not just to track currently available programs, but to monitor how well-funded they are.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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