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Minnesota Housing to provide affordable first-time homebuyer loans
More than $1 million will be made available in Moorhead and Clay County
Homebuyers can take advantage of these resources through the Minnesota Housing Start Up loan program, which offers fixed interest rates and down payment and closing cost loans up to $12,000 for eligible first-time homebuyers. Buyers can purchase homes in Clay County priced up to $253,800. Income limits vary by household size, up to $92,400.
"Minnesota Housing offers home buying opportunities at affordable rates and loan terms that help our residents achieve sustainable homeownership. The closing cost assistance is an especially helpful tool to someone purchasing their first home. We encourage anyone interested in owning their own home to visit with a participating lender to check out these programs," indicated Lisa Bode, City of Moorhead's Community Development Manager. First-time buyers can get started by contacting participating lenders in the Fargo-Moorhead area. Visit www.mnhousing.gov for a full list of approved lenders, current interest rates, and program eligibility.
Minnesota Housing is a state agency that provides access to safe and affordable housing and builds stronger communities across the state. Minnesota Housing offers purchase, refinance, and home improvement loans, as well as financing for affordable rental housing throughout the state.
“Minnesota Housing’s affordable loans, combined with the support of the City of Moorhead, Clay County Housing and Redevelopment Authority, and local lenders, will help more families achieve homeownership,” said Minnesota Housing Commissioner Mary Tingerthal.
Minnesota Housing collaborates with individuals, communities, and partners to create, preserve, and finance affordable housing.
Minnesota Housing: Megan Ryan, 651.297.3566