| Minneapolis Programs—Multi-Neighborhood |
|
|
|
Home Ownership Made Easy (HOME) ProgramDescription: The HOME program is available only to current Minneapolis public housing residents and/or Section 8 participants seeking to move into homeownership. When families are prepared to buy a house, they will be put in contact with a) a participating lender to apply for a mortgage loan offering competitive or lower than market interest rates and b) a trained member of the Minneapolis Area Association of REALTORS® to begin looking for their home. Participants are required to make a certain percentage of the down payment with their own funds, with HOME providing a loan to assist with the down payment. This loan will be repaid (with interest) once the home is resold in the future. If a prospective family is unable to come up with the full down payment, they may qualify for a down payment grant from the HOME Program - to be paid back through volunteer work in their community. Families may also receive interest-free, closing-cost loans which will be required to be paid back once their home is resold in the future. For more information, contact: |
Get detailed information about Minneapolis and Saint Paul's CityLiving programs here.