City Limits of St. Paul or Minneapolis with assistance of up to 2% of the 1st mortgage to be used for closing costs and down payment. The assistance has a 0% interest loan requiring no payments due until the sale or refinancing of the home. After 7 years of living in the home it will be forgiven.

Must be a 1st time home buyer (not owned home in previous 3 years)
or
purchase in a targeted area
or
classified as a qualifying veteran (serviced active duty released or discharged other than dishonorable)
or
performing at least 1/3 of the current federal tax basis or value of the house in renovation work

We can use some of the funds for rehab home improvements

Non Targeted Household Income Limits
1-2 ppl $83,900
3+ ppl $92,290

Target areas all household sizes income limit of $92,290

Maximum purchase price 1 unit $276,870 2 unit $389,205
Targeted areas 1 unit $369,160 2 unit $553,740

Federally Designated Targeted Areas
Property Address lookup for census tract http://www.ffiec.gov/Geocode/default.aspx
Minneapolis 22, 33, 35.01, 59.01, 59.02, 68, 73.01, 77, 78.01,78.02, 79, 83, 84, 1014, 1015, 1016, 1021,1028, 1029, 1034, 1041, 1048, 1054, 1057,1060, 1069, 1070, 1071, 1072
Saint Paul 305, 327, 329, 331, 337

 

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