Loan Programs for
First Time Home Buyers

Specialty Loans


These programs assist the first-time homebuyers who do not have the resources to make a down payment on a home.


   Lower down payment

   Easier to qualify

   May get lower rates


    May be subject to income and property value limitations

    Some programs which have government subsidies may have a recapture tax if the home is sold too early

Are you currently renting in Willmar? If so, did you know that your monthly rent payment is an investment towards your landlord’s financial future instead of yours? Did you further know that we may be able to get you a mortgage where you pay less month to month than you do for rent? Now might be a great time to get out of the renting rut and into a home of your very own.


What are the Benefits of Becoming a Kandiyohi County First Time Home Buyer?

There are many questions to consider when a borrower makes the great decision to buy their first home, but one that we always want our borrowers to keep in mind is the benefits of becoming a Willmar first time home buyer.


Tax Deductions:

Who likes paying taxes? A great advantage of owning a home in Willmar is the option to deduct paid monthly interest, mortgage insurance payments, and home-related purchases from your tax returns.


It’s Your Home. Do What You Want with It:

Can you hear your neighbor cough through the wall that you share? Did you see an awesome new article about the “IN” color for your bedroom walls, but you can’t have it because you’re not allowed to paint? Ever have to hide your cat because the landlord didn’t know you had a cat? In a home that you own, there are no walls to share with your neighbors (provided it’s a detached home), you can paint whatever you want, wherever you want, and Puffball can roam around throughout the house regardless of who pops by.


Stable Monthly Payments:

A first time home buyer in Willmar most often will use a fixed-rate mortgage product to finance their home. Unlike rent in Willmar (which can increase from year to year with the renewal of a lease or the likely event of frequent moving,) stable monthly payments from a fixed-rate mortgage can provide peace of mind and can make it easier to plan, budget, and save.


A Willmar County First Time Home Buyer Can Build Equity:

Owning a home is meant to be a long term commitment. Generally speaking, homes in Willmar increase in value, and the longer you own your home and pay your mortgage, the more is paid against the principle balance. If the balance decreases, and the value of the home increases, the larger the equity! Meaning when you finally do sell your home, the more money you’ll put back into your pocket.


Why Should a Kandiyohi County First Time Home Buyer Work with Supreme?

First-time home buyers often need guidance when it comes to making the right size down payment and truly understanding how much home they can afford. That’s why we are committed to helping every Willmar borrower understand the entire home loan process from start to finish.


Understanding Down Payments as a Willmar First Time Home Buyer

A common misconception is that a borrower will need to put down 20% to finance a home. That is not always the case. There are loan programs available that will allow a borrower to finance a home with 3.5% down or even zero down.

The more a borrower puts down, the smaller the mortgage, and thus more affordable monthly house payments. How much a borrower puts down is a judgment call, but we are here to help guide this decision. The key is making sure a down payment helps secure a comfortable monthly payment.


What Can You Afford in the Best Neighborhoods in Willmar for First Time Homebuyers?

Without first knowing how much house you can afford in Willmar, you will likely waste time or be severely disappointed. It’s not a great feeling to look at a home you love, only to find out the cost is out of reach, or to feel discouraged when you’re looking at homes you hate because you’re looking below your optimal price level.

How will you find out the amount of house you can afford? Call one of our amazing Loan Officers who will help calculate what price range is affordable, what will stretch you too thin, and what’s aggressive.


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NOT A GUARANTEE, OFFER OR AGREEMENT. EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 ( 14801 Quorum Dr., #300, Willmar, MN 75254. 877-350-5225. © 2017. Information, rates, & programs are subject to change without prior notice. Subject to credit & property approval. Not affiliated with any government agency. Intended for Minnesota Consumers Only. Minnesota- SML Mortgage Banker Registration Residential Mortgage Loan Originator.