Down Payment Assistance Programs!

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Down Payment Assistance Programs!

  1. 1. Home Down-Payment Assistance State and Local Programs Stabilizing Neighborhoods
  2. 2. Encouraging Homeownership <ul><li>Incentive programs </li></ul><ul><li>Low home prices </li></ul><ul><li>Historical low interest rates </li></ul><ul><li>Many neighborhoods to choose from </li></ul>
  3. 3. Home Buying Programs Play a Vital Role in our Cities
  4. 4. Making it Possible <ul><li>Funds </li></ul><ul><li>Financing </li></ul><ul><li>Buyers and first-time buyers </li></ul>
  5. 5. Program to Program Homeownership Initiatives
  6. 6. Program Details Vary <ul><li>Low-to-moderate income </li></ul><ul><li>Typically household size </li></ul><ul><li>Single family and/or multifamily properties </li></ul><ul><li>Some area median income (AMI) </li></ul>
  7. 7. HOMEOWNERSHIP ASSISTANCE FUND (HAF) <ul><li>First-Time home buyer </li></ul><ul><li>Available statewide </li></ul><ul><li>Single family and duplex </li></ul><ul><li>Minnesota Mortgage Program (MMP): up to $3,000 </li></ul><ul><li>Community Activity Set Aside (CASA) Program: up to $5,000 </li></ul>
  8. 8. HOME HOMEOWNER ENTRY LOAN PROGRAM (HOME HELP) <ul><li>First-Time home buyer </li></ul><ul><li>Twin Cities 11 county metro </li></ul><ul><li>$276,683 Purchase price or below </li></ul><ul><li>$1,000 to $10,000 if approved for MN Housing CASA Loan - 0% interest deferred loan. 70% forgivable after 6 years, the remaining 30% is due upon maturity of the first mortgage, the property is sold, or the home is no longer owner-occupied. </li></ul>
  9. 9. Many More to Choose From Take Advantage of these Programs!
  10. 10. *Programs are being underutilized due to loan officers and real estate agents that do not know or do not have access to them. Down-Payment expertise helps unite you with the funding or financing available today! Don’t Buy a Home and Find Out Later You Could Have Qualified!
  11. 11. Discover Hidden Treasures You May Not Be Aware Of
  12. 12. Peter Boyle – Senior Mortgage Officer Serving the Community 20 Years! Direct: 612 701 6816 [email_address] www.PeterBoyleHomeLoans.com Summit Mortgage Corporation Plymouth, MN 55441 Call Today! NMLS #218261

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