The Edina housing market is competitive, with a range of homes available for buyers. The median home price in Edina is $520,000, with prices varying by neighborhood and property type. In recent years, Edina has seen steady growth in home prices, making it a great time to invest in real estate. However, the market can be challenging for buyers, especially those with limited credit history or lower down payments.

At NMHL, we're committed to helping Edina borrowers navigate the mortgage process. Our team of experienced loan officers has extensive knowledge of the local market and can help you find the best mortgage solution for your needs. Whether you're a first-time homebuyer or a seasoned homeowner, we offer a range of mortgage programs to suit your situation.

Edina has several desirable neighborhoods to choose from, each with its unique character and amenities. Some popular areas include:

• Downtown Edina: A vibrant mix of shops, restaurants, and entertainment options.
• Valley View: Scenic views and outdoor recreational opportunities.
• South Edina: Affordable housing options and community parks.

When choosing a neighborhood, consider factors like commute times, school districts, and local amenities to find the best fit for your lifestyle.

Property taxes in Edina average approximately 0.98% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $520,000 home, you can expect to pay around $5,100 per year in property taxes.

However, property tax rates can vary depending on the location and type of property. It's essential to consider property taxes when calculating your mortgage costs and to consult with a tax professional for personalized advice.

Edina is served by the highly-rated Edina Public Schools district, which includes several top-performing schools. The district has a strong reputation for academic excellence, with high graduation rates and a range of extracurricular programs.

When buying a home in Edina, consider the school district and its impact on property values and your child's education. Our loan officers can help you understand how school districts affect mortgage rates and terms.

As a first-time homebuyer in Edina, you may be eligible for specialized mortgage programs and incentives. NMHL offers FHA loans with as little as 3.5% down, as well as other programs like the Minnesota Housing Finance Agency's (MHA) First-Time Homebuyer Program, which provides down payment assistance and competitive interest rates.

Contact us to learn more about these programs and to get pre-approved today. Our loan officers can help you navigate the mortgage process and find the best program for your needs.

At NMHL, we're committed to serving underserved borrowers in Edina, including those with bad credit, self-employed individuals, and veterans. We offer a range of mortgage programs designed to meet the unique needs of these borrowers, including FHA loans with lenient credit score requirements and VA loans with zero down payment options.

Our loan officers have extensive experience working with underserved borrowers and can help you navigate the mortgage process. Contact us to learn more about our programs and to get pre-approved today.