Mike Hulse Mortgage

07/08/2026

🏡 Thinking about buying a home in Saint Paul?

The Citywide Down Payment Assistance Program may provide up to $40,000 toward your home purchase for eligible buyers.

One of the biggest things to know about this program…

Don't wait until you've found a house.

Buyers should apply and receive their Reservation Letter before they start shopping. Waiting until you're under contract can make it difficult to meet the program's timeline.

If you're considering buying in Saint Paul, let's talk first. I'm familiar with this program and can help determine if you qualify and guide you through the process.

06/27/2026

When comparing mortgage options, don't get caught up chasing the lowest interest rate.

The best loan is the one that looks at the entire picture:

🧩 Interest Rate
💰 Lender Credits
📄 Closing Costs
📊 APR
🏡 Monthly Payment

A slightly higher rate can sometimes save you thousands in upfront costs—or be the better long-term financial decision.

That's why I compare the entire loan, not just one piece.

05/27/2026

The Twin Cities housing market is shifting.

And honestly… it’s becoming a more “normal” market again.

The pandemic-era frenzy of every home getting 15 offers in one weekend has cooled down across much of the Minneapolis/St. Paul metro.

Here’s what we’re seeing right now:
• Inventory is improving, giving buyers more options
• Homes are taking longer to sell in many price ranges
• Buyers are becoming more payment-conscious with today’s rates
• Overpriced homes are sitting
• Well-prepared homes priced correctly are still moving quickly

The interesting part?

This market is becoming hyper-local.

One neighborhood may feel slow, while another still has multiple offers on move-in-ready homes.

For buyers, there’s finally more room to negotiate again in many situations.

For sellers, preparation and pricing strategy matter more than they have in years.

The days of simply “putting a sign in the yard” are fading.

Real estate is becoming more about:
✔️ Monthly payment
✔️ Affordability
✔️ Presentation
✔️ Strategy
✔️ Local market knowledge

The market isn’t crashing.

It’s adjusting. And smart buyers and sellers are adapting with it.

05/22/2026

🏡 Looking to buy a home in Burnsville?

Many buyers are surprised to learn that Burnsville offers a down payment assistance program that may provide assistance of up to 10% of the purchase price for eligible buyers.

Programs like this can help bridge the gap between wanting to buy and actually becoming a homeowner.

The key is knowing about them before you're under contract, since timing and program requirements matter.

I'm familiar with this program and can help determine whether it's a fit for your situation.

05/19/2026

Ramsey County just reopened the FirstHome Down Payment Assistance Program 👀🏡

This program can help eligible first-time and first-generation homebuyers with:
✔ Down payment assistance
✔ Closing costs
✔ Deferred / forgivable assistance options
✔ Purchases in eligible suburban Ramsey County cities

Potential assistance includes:
• Up to $20,000 for qualified first-time buyers
• Up to $93,150 for qualified first-generation buyers

The program does have income limits, education requirements, and specific guidelines — but it can be a HUGE opportunity for buyers trying to bridge the gap to homeownership in today’s market.

I’m very familiar with this program and the process, and I’d be happy to help see if you qualify and help get things started.

05/18/2026

Minnesota housing market right now feels a little like déjà vu…

Rates tick up ⬆️

Inflation sticks around ⬆️

And suddenly everyone is focused on one thing again:

“What’s the monthly payment?”

Not the price.
Not the square footage.
Not even the interest rate by itself.
The PAYMENT.

We’re seeing buyers across Minnesota become much more payment-sensitive again compared to earlier this year.

That’s changing the market fast:

• Seller credits are back
• Affordable homes still move quickly
• Middle-price homes are becoming more competitive

This market is becoming less emotional… and more mathematical.

The buyers winning right now are the ones looking at the full picture — payment, concessions, taxes, insurance, and long-term affordability.

04/19/2026

VA Funding Fee (2026)

If you’re using a VA loan, this is one of the biggest costs to understand upfront.

The VA funding fee is a one-time fee that helps keep the program running and allows for benefits like no down payment and no monthly mortgage insurance.

A few key things to keep in mind:
• It varies based on down payment and whether it’s your first time using VA
• It can be rolled into the loan or paid upfront
• It is not monthly
• It’s typically lower with more down or on subsequent use

Important:

Veterans with any VA disability rating are exempt from the funding fee

That exemption can make a meaningful difference in your total loan amount and monthly payment.

If you’re reviewing numbers or comparing options, this is one of those line items that matters more than most people realize.

03/30/2026

Rates were heading toward 6%. Now the market isn’t so sure.

What’s driving it right now:
• Oil prices up → inflation concerns back
• Inflation uncertainty → bond yields rising
• 10-year Treasury up → mortgage rates follow
• Ongoing global tension → added volatility

Where rates are sitting:
• Conventional: low 6% range
• VA / FHA: high 5’s to low 6’s

What this means:
• The market is not stable right now
• Rates are reacting quickly to new information
• We are seeing short-term swings week to week
• Direction is unclear in the near term

Big picture:
• Rates were improving
• That trend has paused
• Now we’re in a more volatile environment

This is a market with uncertainty, not a clear direction.

02/17/2026

VARIABLE INCOME — DID YOU KNOW?

Variable income is not just overtime, bonus, or commission.

It also applies to hourly employees who do not work a consistent number of hours each pay period.

If hours vary, income usually must be averaged — and a Written Verification of Employment (WVOE) is often required. This applies across most loan types and programs.

Accurate income calculations matter.

That means reviewing full documentation:
• W-2s
• Paystubs
• Year-to-date earnings
• Overtime, bonus, or commission history

Overtime and variable earnings are typically averaged over 1 year — and sometimes a full 2-year history is required.

The goal is simple: calculate stable, qualifying income the right way upfront to avoid surprises later.

01/30/2026

https://www.youtube.com/watch?v=hsnDIBAzGI8

Even when the Federal Reserve cuts interest rates, mortgage rates can remain high. That’s because home loans track closer to the bond market than the Fed rat...