| Homebuyer's Assistance Loan and Grant Program (Cedar-Riverside neighborhood) |
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Description: Depending on income, the following programs are available: Loan Program - based on family size, annual household income must be less than 80% of HUD median family income (see website for details.) Grant Program - applicants with household incomes less than 50% of median income may be eligible for a grant (see website for details.) $2,000 to $15,000 is available at a 0% interest rate. Applicants have to be a first time home buyer (i.e. not had a mortgage for a principal primary residence individually (or jointly) in his/her/their name within the past three years) and must complete a "pre-purchase" counseling program. Eligible properties must be either single family dwellings or duplexes or individual condominium or townhome units located in the Cedar-Riverside/ West Bank neighborhood and they must become homesteaded and owner-occupied by the applicant. Under the loan program, the maximum repayment term 10 years and the loan will be forgiven if you continue to own and live in your property for 10 years. For more information, contact: Jim Hasnik Add this page to your favorite Social Bookmarking websites         |
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Get detailed information about Minneapolis and Saint Paul's CityLiving programs here.
