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Bob Streitz B&C Home Loans

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(612)387-5226verified 10 years in business

13700 83rd Way N Suite 212
Maple Grove MN, 55369

Sunclosed
Mon8:00 am-5:00 pm
Tue8:00 am-5:00 pm
Wed8:00 am-5:00 pm
Thu8:00 am-5:00 pm
Fri8:00 am-5:00 pm
Satclosed
Memorial Day might affect business hours

13700 83rd Way N Suite 212, Maple Grove MN, 55369
(612)387-5226

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About Bob Streitz B&C Home Loans

I know that you don’t buy or re-finance your property very often. You can expect an open discussion about the goals you wish to achieve and become educated on what to expect in the process, industry terminology, and available options that make sense.

Services:
Home Purchase Financing
Home Refinancing Options
Adjustable Rate Mortgages (ARMs)
USDA Home Loan
VA Loans
Investment Property Mortgages
Second-Home Mortgages (lake homes and recreational properties)
Reverse Mortgages
Fixed-Rate Mortgages
FHA Loans
Down Payment Assistance
First-Time Homebuyer Programs

Products Carried:
Adjustable Rate Mortgages (ARMs)
Down Payment Assistance
FHA Loans
First-Time Homebuyer Programs
Fixed-Rate Mortgages
Home Purchase Financing
Home Refinancing Options
Investment Property Mortgages
Reverse Mortgages
Second-Home Mortgages (lake homes and recreational properties)
USDA Home Loan
VA Loans


Bob Streitz B&C Home Loans, mortgage lender, listed under "Mortgage Lenders" category, is located at 13700 83rd Way N Suite 212 Maple Grove MN, 55369 and can be reached by 6123875226 phone number. Bob Streitz B&C Home Loans has currently no reviews.

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628.66 mi away  1 hour and 26 minutes by plane

Frequently Asked Questions about Bob Streitz B&C Home Loans

Bob Streitz B&C Home Loans is closed on Sunday and Saturday.
Bob Streitz B&C Home Loans is open Mon-Fri 8:00 AM-5:00 PM.
We can provide residential financing options on your standard single-family homes and cabins, investment properties, condos, townhomes, 1-4 unit properties, hobby farms, and more unique properties.
Mortgages Unlimited is licensed to provide residential mortgage financing in Minnesota, Wisconsin, and Florida. Keep us in mind for that family cabin or retirement home too!
You’ll be surprised at how quickly the process can go! Once we have a complete application with credit and view your income docs, we can be in a position to render a decision. You could get your Pre-Approval Letter in as little as 24 hours! Apply today! (link to the application here too?)
Yes, a few simple things: use your credit as you usually would and try to avoid opening any new credit or closing any current accounts; avoid moving money around from one account to another as we must source the funds being used and the paper trail could create a lot of extra work for you. See also the tab for Credit Do’s and Don’t! Great discussion point!
Credit reports are good for 120 days, so if there are no marked changes in income, credit scores, or liabilities, you should be suitable for the next 90-120 days!
Reserves are monies or liquid assets you may hold that reflect a ‘reserve’ of monthly payments in the bank. Reserves are typically required on investment property transactions.
Yes! In lieu of W2s and paystubs, we’ll just collect your benefit statements from the SSA and/or your pension administrator and show proof of receipt with a couple of months of bank statements.
We’ll request the last 2 years of your tax returns (both personal and corporate if filed) for self-employed borrowers, and our underwriting staff will perform an income calculation. Beyond that step, self-employed borrowers are eligible for the same rates and programs that an hourly or salaried person might be.
If you have a 2-year history of holding a part-time job, we can typically consider that income. This is a good one to call and discuss.
Mortgage rates are provided to us by investors daily. Many days, there is little to no change. Some days, changes may positively or negatively reflect important economic reports or world events.
Let’s start with a conversation to discuss why you don’t think your credit is great or what might be affecting it. We do have programs that allow for lower credit scores and can review it with our credit reps that can offer some solid direction and suggestions at no cost!
Yes! See the tab “Or do we provide a link here too?” to access my secure page where you can easily complete an interview-style application. Take it as far as you can, and we’ll fill in the blanks together when we review and discuss your ideas and goals!
PITI is an industry acronym for Principal, Interest Taxes, and Insurance. In some scenarios, the housing obligation may include mortgage insurance (if required) and/or homeowner’s association (HOA) dues applicable to most condos and townhomes.
Debt-to-Income Ratios (DTI) are a big piece of the qualifying process. The calculation is simple: we add up all the monthly obligations from your credit report (recurring monthly debt) along with the proposed new housing expense (principal, interest, taxes, and insurance – see PITI) and divide it into your gross monthly income(s). We can typically allow DTI to go into the mid-to-upper 40% area. Some programs may allow higher. It’s important to know and remember we’re using your gross monthly income (before taxes and deductions), not your take-home pay.
If your debt ratios exceed guidelines, adding a co-borrower may bring the ratios in line for qualifying. We would also consider your co-borrowers’ income, liabilities, and credit in the underwriting process. They would also be in title to the property whether occupying it with you.
No, not necessarily. Changing jobs without long gaps in employment (more than six months) shouldn’t be an issue. We typically require a 2-year work history to be disclosed on your application. People entering the job market from school or military service would also reference that school or military time.
A point is simply 1% of whatever loan amount we’re talking about in the mortgage industry. For example, 1 point on a loan of $250,000 is $2500. Points can be used to buy down a rate or cover some costs. Call to discuss this one.
Mortgage insurance (MI) would apply whenever someone doesn’t have a 20% down payment for their purchase or 20% equity on a refinance transaction, mortgage insurance (MI) would apply. It is typically applied monthly as a part of your payment, or a one-time premium may make sense. The more down payment (or equity) there is, the lower the rate of MI.
I think things should start with a conversation between us. I want to hear your ideas, goals, and questions to ensure we’re on the same page and offer you the best program or benefit. People don’t buy or refinance a home very often, and I want to make sure you are educated on the programs available industry terms, get answers to your questions, and that we find net benefit for you. Then, completing an application with credit is the document that ‘tells the story’ and creates the template we need to run different ‘what if’ scenarios for you.
Good credit reflects no recent major derogatory events (like bankruptcies and foreclosures) and minimal late payments, high balances, or collections. Scores above 740 would be considered excellent. However, we can offer programs for scores as low as 620.
Yes, gifting of funds is allowed in most programs and is easy to do. Give me a call to discuss before moving funds around.
Yes! FTHB or anyone who has not owned a property in the last 3 years may be eligible for programs that offer lower down payment, down-payment assistance, higher debt ratios, and lower credit scores. Call to find out more about your specific scenario.

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