:: Home Finance News ::

St. Paul, MN (PRWEB) April 21, 2005 — The Allen Mortgage and Real Estate Group, http://www.The-AllenGroup.com/reg_class, a leading Minnesota Mortgage Broker today announced the launch of its First Time Homebuyers Boot Camp.

Deciphering mortgage rates and loan programs are just the beginning of what is most often an overwhelming home buying process for first time owners. A few of the top questions on the home buying checklist include “Should I choose a fixed or an adjustable rate? What are the advantages to working with a Broker vs. a Bank? How much can I afford without getting in over my head?”

“One of the more important things I learned during the first time homebuyers class was the importance of owning and the financial investment that goes along with it,” said Jon Canfield. “Another thing I learned was that the home buying process is complicated and very time and mind consuming. This was something that I was not aware of as a first time homebuyer. The class and the staff in place were very knowledgeable and easy to work with, making for a smooth and easy transition into buying my first home.”

There are many questions, both known and unknown, that can slow-down and many times derail the new home buying process, which are answered in the Boot Camp.

“The home buying process can seem very simple, but it’s what first time homebuyers DON’T know that can really hurt them,” said Cindy Allen, Allen Mortgage & Real Estate Group principal. “There are many expensive pitfalls that may not become evident until a new homebuyer is in the middle of an unforeseen problem. Then they must learn the hard way. We don’t want buying your first home to become a nightmare.”

Lack of knowledge, for first time homebuyers can cost thousands of dollars, which is why the First Time Homebuyers Boot Camp illustrates various mortgage programs, payment examples and other unknown expenses and potential challenges that must be taken into consideration before embarking on such a large and important investment.

“In order to help first time homebuyers become more prepared to make the biggest decision of their life, we are helping them by offering a comprehensive educational course,” said Allen. “The First Time Homebuyers Boot Camp is designed to help build a solid understanding in what can often be a misunderstood process.”

The First Time Homebuyers Boot Camp is designed to convey the home buying process from start to finish, from understanding credit scores to pre-approval to understanding what moves interest rates and knowing whether an ARM or Fixed mortgage, depending on an individual’s circumstances, is better for the first time homebuyer.

Class instructors cover many unasked, yet important concepts including strategies for increasing affordability, what should a first time homebuyer look for in their first home in order to move on to the second home when the time is right and an explanation of how owning a home can decrease income tax.

First Time Homebuyers Boot Camps are being hosted in the following MN communities:
April 27 – Edina
May 19 – Arden Hills
June 23 - Apple Valley
July 19 – Bloomington
Aug 24 – Blaine
Sept 22 – Woodbury
Oct 19 – Plymouth
Nov 14 – Lakeville
Dec 15 – Eden Prairie

About The Allen Mortgage and Real Estate Group
The Allen Mortgage and Real Estate Group has been a leading MN mortgage broker and mortgage lending company for nearly 20 years. With a commitment to first time homebuyers, the team at the Allen Mortgage & Real Estate Group commits to sharing the truth about the home buying process. Find out more on the home buying process and home buying tips at http://www.The-AllenGroup.com.