Zero Down Payment Affordable Advantage Home Loan in MN

Buy a Home with our Zero Down Affordable Advantage program
Yes it's Real -  New Program  -  Just Started August 16th, 2010

FIRST TIME HOMEBUYER CLASS REQUIRED SIGN-UP

Basic requirements:

• 100% financing, 30-yr fixed (with NO Mortgage Insurance)

• Single family homes only (condo's and town homes OK)

• Meet income guidelines

• Min 680 credit score and less than a 45% debt-to-income ratio required 

• Up to 3% seller paid closing costs

• Zero Down - but Buyers MUST put $1,000 into the deal

• Home buyer education class Required  (we'll help you sign up)

• Available anywhere in Minnesota

• First time home buyers (or have not owned a home in the past 3 years)

Getting started is easy, and requires two simple steps:

• Sign-up for the required first time home buyer education class

• Fill out a full mortgage application. Apply online or call (651) 705-6261

Homeownership Programs Eligibility Income Limits
The following income limits apply to the Minnesota Mortgage Program (MMP), including the Affordable Advantage Program