Archive for May, 2017

Celebrate our heroes this Memorial Day!

May 26th, 2017

Memorial day celebrate our heroes message

Our offices will be closed on Monday May 29, 2017 in observance of the Holiday

Fairway Independent Mortgage Corporation

Bloomington, Waterville and Plymouth



Now is the time to sell!

May 19th, 2017

sold signsThere’s a season for everything, and right now is the time to sell – your home that is! The Minneapolis Area Association of Realtors puts out a weekly report that we keep a close eye on. This week’s report continues to show what has been the trend for some time – it’s a fast-moving Twin Cities, MN housing market.  

Here are a few of the stats from last week’s report:

  • New listings (new homes coming on the market) rose 5.7% to 2,341 new listings
  • Pending sales (the number of homes that had accepted offers) went down 4.4% to 1,507
  • Inventory (the total number of homes on the market) decreased 18.9% to 11,012

The laws of supply and demand are absolutely at play in our current market. It’s pretty simple – when there are fewer homes on the market than there are buyers who desire homes, prices increase and homes move quickly. We’re seeing multiple offers on homes that are priced correctly, and financing plays a BIG part in who wins.

We’re here to help make sure you’re in the best possible position to win, regardless of which side you’re on. If competing in multiple offers isn’t something you want to engage in, but you want to make some changes, there are other options that we have years of experience and partnerships in. Many home sellers and home buyers are considering new construction or remodeling their current homes. It’s not uncommon to see clients turning to new construction rather than “duking it out” in the existing home market, and we are honored to work with some of the best local builders and contractors in MN. New construction financing is one of our specialties, and we’d be happy to talk to you about building your next home or remodeling the one you’re in. We know selling your current home isn’t likely to be an issue in this HOT season.

If you’re interested in selling, but want to make sure you’re prepared on the other side, give us a call – we’re here to help each step of the way. As a seller, the numbers tell a beautiful story in this season of low inventory, and we can make sure they look good for you on the buy side too!

– Randy Cullen, NMLS #326128

Consider “credit improvement” to increase your home purchasing power!

May 5th, 2017

CreditThe term “home improvement” means a lot of things to a lot of people – mostly in the context of remodeling, decorating, or building; and gives the ability to up-size, down-size, or just-right-size for your family’s needs. However, before some people can dive in and do that kind of home improvement, they may need to do some credit improvement. I am not referring to seriously poor credit or low scores resulting from financial disasters. I am actually referring to a large portion of the public whose credit is decent, good, or even pretty good…but could be improved.

Credit scores have an amazing impact on your ability to borrow money. Describing the depths of this would be technical and boring, so we’re asking you to take our word for it and we’ll offer some important examples. Here are some key things that just 20 to 50 points on your credit score directly impact:

  • Type of loan for which you may qualify
  • Interest rate you will pay
  • Mortgage insurance – whether it is required and how much it will cost

These three things all affect your pocketbook in a big way. The higher your credit score, the “better” the loan you will be able to get – meaning better interest rates and lower (or no) mortgage insurance requirements. Read the rest of this entry »