Anoka County 1st time Homebuyer Assistance

By
Real Estate Agent with Barker and Hedges-Homes of Minnesota Team

Are you looking to purchase a home in Anoka County?  Did you know that Anoka County offers assistance to 1st time homebuyers?  Actually, assistance is available to first time homebuyers AND people who have not owned a home for the previous 3 years.  The program is run through the Minnesota Housing Finance Agency (MHFA) and is called the Anoka County Community Action Program (ACCAP).  The program can be used in purchasing a new construction or a previously owned townhome, condo, or single family home.   You must fall under a specific gross household income guidelines (depending on your household size), and you are usually required to take an informational homebuying class.  You will still need to be able to qualify (credit wise) for a FHA, Conventional or VA loan to use the program.  If you qualify and meet the requirements, ACCAP can provide down payment assistance up to $5000 in the form of an interest free 2nd deferred mortgage.  MHFA provides funds for fixed rate, low-interest loans to qualified people.  The loans are at or below market-rate interest.  Additional and specific information can be obtained by your lender.  Since I am a Realtor vs. a Mortgage Lender, please understand that my information is general.  I just really think more people should be aware of these programs!  They are designed to help people afford homeownership vs. renting.  I've worked with buyers who have successfully used these programs (and other community specific programs) with their respective lenders.   If you would like contact information for lenders I've worked with on these programs, please email me.  dena@barkerhedges.com.

Have a great Monday!

Dena

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