Minnesota mortgage questions, answered plainly.

Who is Andrea Nemetz?

Andrea Nemetz is a licensed mortgage loan officer with Edge Home Finance Corporation, NMLS #2603670 (company NMLS #891464). She has more than 14 years in Minnesota real estate and works with buyers, homeowners and investors on purchase financing, refinancing and long-term loan strategy.

What areas does Andrea Nemetz serve?

Andrea works throughout Minnesota, including the Twin Cities metro, White Bear Lake, Minnetonka, Woodbury, Maple Grove, Eden Prairie and the surrounding suburbs. Edge Home Finance is licensed in 49 states, and Andrea originates loans in the states where she is individually licensed.

How long does a mortgage pre-approval take?

Most pre-approvals are issued within 24 to 48 hours of a completed application and documentation. Andrea reviews income, assets and credit the way an underwriter would, so the pre-approval letter your agent attaches to an offer reflects real buying power rather than a rough estimate.

What documents do I need to apply for a mortgage?

Plan on 30 days of pay stubs, two years of W-2s or tax returns, two months of bank or asset statements, and a photo ID. Self-employed borrowers add business returns, a year-to-date profit and loss statement, or bank statements if using a bank-statement program.

How much do I need for a down payment in Minnesota?

Conventional loans start as low as 3% down, FHA at 3.5%, and VA and USDA loans can require no down payment for eligible borrowers. Minnesota Housing and other down payment assistance programs may cover part of the down payment or closing costs for qualified buyers.

Is working with an independent mortgage loan officer better than a bank?

An independent mortgage loan officer shops your file across many lenders instead of offering one institution's pricing and guidelines. That usually means more program options for self-employed, investor and credit-sensitive borrowers, and pricing comparison in a single application rather than several.

When does refinancing make sense?

Refinancing usually makes sense when the monthly savings recover your closing costs within a timeframe you plan to keep the home, when you can drop mortgage insurance, when you want to move out of an adjustable rate, or when you need to use equity for debt consolidation or renovation. Andrea models the break-even before you commit.

Can I get a mortgage if I am self-employed?

Yes. Options include conventional loans using tax returns, bank statement programs that qualify you on deposits, profit-and-loss programs, and DSCR loans for investment property that qualify on the property's rental income instead of personal income.

What credit score do I need to buy a home?

FHA financing can start around a 580 score, and most conventional programs begin around 620. Higher scores generally improve pricing. If your score needs work, Andrea can map the specific changes that move you into a better tier before you apply.

What does Andrea charge for a consultation?

Consultations, pre-approvals and scenario modeling are free. Loan costs are disclosed in writing on your Loan Estimate within three business days of a completed application, so you can compare offers line by line.

How do I start a loan application?

You can start a secure application online through Andrea's Edge Home Finance portal, or book a call first at mymortgagewithandrea.com/schedule to talk through your goals before submitting anything.

For illustration only. Not a commitment to lend, a rate quote, or a Loan Estimate. Actual payments and terms depend on credit, property, program and market conditions at the time of application.