Your Local Mortgage Lender
Located in Edina, Minnesota
Personalized Mortgage Experience
Alex Mysinek offers personalized service and loan options you'll love. We shop multiple lenders to find the best rate and product for you, getting you into your dream home faster.
With wholesale interest rates and cutting-edge technology, we make the mortgage process seamless. Trust the experts who focus solely on mortgages. Support your local community and experience elite client service.
Let us help you achieve your homeownership dreams!
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Experience the best mortgage experience located in Edina, Minnesota.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
Do You Need 20% Down? Alex Mysinek Busts the Biggest First-Time Buyer Myth
The Myth That Keeps Buyers on the Sidelines
Alex Mysinek says the biggest myth he hears from first-time buyers is that they must put twenty percent down to buy a home. In reality, most buyers never do. Believing the myth can lead people to delay their purchase for years while they chase a number they may not actually need to reach, and that delay can carry real costs of its own. Many would-be buyers are more ready than they think.
What the Typical Buyer Really Puts Down
The typical first-time buyer puts down around eight percent, and plenty of good loans ask for far less. Many conventional loans allow three percent down, FHA loans allow three and a half percent, and VA and USDA loans offer zero down for borrowers who qualify. Eligibility, pricing, and terms vary by program and borrower, so it helps to review the details for your situation with a lender who can lay out each option clearly.
How Mortgage Insurance Fits In
Putting down less than twenty percent usually means paying mortgage insurance for a while. On a conventional loan, that insurance falls off once you build enough equity in the home, so it is not a permanent cost. Many buyers find the temporary expense is a fair trade for getting into a home sooner and starting to build equity earlier.
Waiting Can Cost More Than the Insurance
Spending years saving for a full twenty percent can end up costing more than the mortgage insurance ever would. During that time, you keep paying rent instead of building equity, and home prices and interest rates may change. The cost of waiting is easy to overlook, but it is real, and it deserves a place in the math.
Ask a Smarter Question
Rather than asking whether you can reach twenty percent, Alex encourages buyers to ask how much they can put down while still keeping a healthy emergency fund. Cash in reserve after closing protects you from unexpected repairs and expenses, and that safety net matters as much as the down payment itself. Draining your savings to hit a bigger number can leave you exposed right when you become a homeowner.
Let’s Look at Your Options Together
If you are thinking about buying a home, reach out to Alex Mysinek so you can review your down payment options together and find the loan program that fits your budget and goals.
Sources
NAR.realtor
ConsumerFinancialProtectionBureau.gov
Fanniemae.com
HUD.gov
USDA.gov
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