Home Ownership Programs in Woodbury MN
Posted by Matt Barker on Tuesday, November 17, 2009 at 12:42 AM
By Matt Barker / November 17, 2009
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There are several home buyer programs in Woodbury MN, both for first time home buyers and people who have owned homes in the past.
First, there is the Woodbury First-time Home Ownership Program. The aim of the program is to encourage home ownership in Woodbury MN by providing financing to low- and moderate-income first-time home buyers. Low-interest, deferred loans of up to $25,000 are available to qualified families who earn no more than 80% of area median income, currently $64,000 for a family of four. First-time home buyers are defined as a person or household that has never owned a home or has not owned a home in the last three years. The purchase price of the affected homes may not exceed $256,500. Single-family detached houses, townhomes or condo units are eligible for this program.
Second, there is the Woodbury Foreclosure Purchase Program. This program aims to encourage the purchase of foreclosed properties in Woodbury MN by providing financing to low- and moderate-income purchasers. Low-interest, deferred loans of up to $25,000 are available to qualified families who earn no more than 115% of area median income, capped at $90,000 per household. The purchase price of the affected homes may not exceed $256,500. Single-family detached houses, townhomes or condo units are eligible for this program.
Perhaps now is a good time to take a look at Woodbury MN real estate!
First, there is the Woodbury First-time Home Ownership Program. The aim of the program is to encourage home ownership in Woodbury MN by providing financing to low- and moderate-income first-time home buyers. Low-interest, deferred loans of up to $25,000 are available to qualified families who earn no more than 80% of area median income, currently $64,000 for a family of four. First-time home buyers are defined as a person or household that has never owned a home or has not owned a home in the last three years. The purchase price of the affected homes may not exceed $256,500. Single-family detached houses, townhomes or condo units are eligible for this program.
Second, there is the Woodbury Foreclosure Purchase Program. This program aims to encourage the purchase of foreclosed properties in Woodbury MN by providing financing to low- and moderate-income purchasers. Low-interest, deferred loans of up to $25,000 are available to qualified families who earn no more than 115% of area median income, capped at $90,000 per household. The purchase price of the affected homes may not exceed $256,500. Single-family detached houses, townhomes or condo units are eligible for this program.
Perhaps now is a good time to take a look at Woodbury MN real estate!
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