City Living Program in St Paul and Minneapolis, MN.
Below market interest rates: Currently 3.99% (4.775 APR) (as of 12/13/2010 and subject to change)
River walks, people, fine dining and concerts. And that’s just the beginning. From condos and lofts in downtown to charming homes in historic residential neighborhoods, the Twin Cities area has much in the way of housing options that allow you to enjoy all that major cities have to offer. With City Living’s loan programs, the reality of urban living and home ownership is not far away.
Homebuyers accessing this First Time Homebuyer Loan may qualify for a below market interest rate may also be eligible for Down payment and Closing Cost Assistance. As a borrower, you can choose from two market mortgage interest rates; one rate comes with a Down Payment Assistance Grant (DPA) of either 2% of your new homes purchase price, while the other rate is without the grant (Non-DPA). This program is made available by the cities of Saint Paul and Minneapolis, and is available for homes within the Minneapolis and St Paul City limits.
General Program Information and Qualifications 
- You must live in the home.
- Property must be single family home, or duplex in Saint Paul or Minneapolis city limits.
- Income and purchase price limits apply.
- Home Buyer counseling class is required. (call 651-552-3681 to register)
- First Time homebuyer funds are reserved on a first-come, first-serve basis
First Time Home Buyer money NOW AVAILABLE. Apply online and be ready to go!
| Homebuyer Education Workshops Homebuyer Education Workshops are offered at a low cost through the Home Ownership Center. The workshops provide first-time homebuyers comprehensive information to prepare them for home ownership. The Home Stretch Program teaches potential homebuyers about the entire home buying process and the responsibilities of homeownership. Topics covered in these monthly seminars include: Budgeting and Credit Issues, Financing and Qualifying for a Home, Shopping for a Home, The Purchase Process, Closing on a Home and Life as a Homeowner. Home buyer education is taught by professionals in the home buying field. Home Stretch ® is a nine-hour course that is held monthly. Either over three days from 6 to 9 p.m. each night, or an all day Saturday class. Participants must attend all three nights or the single all day session full day to complete the course. A small cost of $15-$25 per household may be required. The workshops are offered in English, Spanish, Hmong and Cambodian. Bilingual counselors or interpreters are also available for other languages. Call 651-552-3681 to register. |
Most Minnesota city, and county mortgage and down payment assistance funds are limited, and on a first-come, first-serve basis, including the City Living Program. Contact us as early as possible in the home buying process to be sure you are qualified. If you have questions about the home buying process, call 651-552-3681, or APPLY online 24-hours a day via our secure application. There are no costs or obligations.
To apply for a City Living Loan contact a participating mortgage lender like us. The lender will review your income and credit history to determine whether or not you will qualify for the loan. It is important that you know not all lenders are able to offer the City Living Program. We are proud to be a provider of many of these loans. Knowing your full exact situation will help us determine if a government assistance loan programs are right for you. Being pre-approved also gives you ultimate buying power and the upper hand in negotiating.
Ready? There are no costs or obligations to get started!
Down Payment & Closing Cost Loans Income Limits
Household Income Limits (These limits are determined by HUD and subject to change). The “household” income includes all persons living in the property, regardless of family relation or whether they are a party to the first mortgage. Income from all members of the household age 18 years and older must be included when determining which level of assistance applies to the household
If you have questions about the home buying process, call 651-552-3681, or online 24-hours a day via our secure application. There are no costs or obligations.
Comments (0)Subscribe to CommentsComment