Learn About Homeownership
Buying a home is an exciting journey, but it can also feel overwhelming. Our Learn section is designed to guide you through every step of the process, from understanding mortgage basics to preparing for homeownership and everything in between. Explore resources like the mortgage process, first-time homebuyer classes, the costs of insurance and property taxes, loan underwriting, forbearance options, and more. Whether you’re just getting started or need specific guidance, we’ve got the information to help you make informed decisions on your path to homeownership.
Mortgage Process
Ready to take the next step toward homeownership? Download our application checklist and start your journey with the Minnesota Chippewa Tribe’s Home Loan Program today!
First-Time Homebuyer Classes
Planning to finance your home through the MCT Finance Corporation? Our free first-time homebuyer class is a required step. Learn more and register for this essential class today!
All About Closing Costs
Closing costs can add up quickly when buying a home, ranging from 2-5% of the purchase price. Understanding these expenses can help you plan ahead and avoid surprises. Learn about common closing costs, from title insurance to appraisal fees, and discover tips to potentially reduce these costs.
Insurance & Property Taxes
Learn how the added costs of property taxes and homeowner’s insurance affect your monthly mortgage payments and get tips on how to estimate and manage these costs.
Loan Underwriting
Ready to learn how to qualify for your home loan? Discover the ‘Four C’s’ of underwriting and see how you can meet our criteria to secure financing for your dream home.
Learn About Forbearances
Facing financial hardship due to health issues or job loss? You may be eligible for forbearance, a temporary relief option to pause or reduce your mortgage payments and regain financial stability. Learn how to apply and what documentation is required to submit your request.
Preparing for Homeownership: Your First Steps
Preparing for Homeownership
Thinking about buying a home? It’s important to assess your financial readiness before making the leap. From evaluating your income and managing debt to addressing credit issues, our guide can help you prepare for homeownership.
Homebuyer’s Guide
Wondering if a property is the right fit for you? Our Homebuyer’s Guide walks you through everything you need to evaluate when considering a home purchase. From location and size to important inspection checklists, this guide helps you make informed decisions and avoid surprises.
Questions to Ask When Buying A Home
Before making an offer on a home, make sure you’re asking the right questions. From property taxes to the condition of the roof, these key considerations can help you avoid surprises and ensure you’re making a smart investment.