First time home buyers often are befuddled when it comes to choosing the best mortgage package. In addition, there is no guarantee of getting your preferred mortgage loan even if you are working with a mortgage professional. Minnesota first time homebuyers must not sign away the loan they qualified for but instead consider a smaller, more affordable loan.

How does this happen? Loan officers will qualify you for a loan based on your income ratio and not necessarily how much you're prepaid to pa...