Isanti County Works With Minnesota Housing To Provide Affordable Homeownership Loans | New
Minnesota Housing announced that more than $ 55 million is available to provide affordable mortgages to first-time homebuyers through collaboration with cities and counties in Minnesota, including an allowance for Isanti County in under an agreement with the County Economic Development Authority.
Homebuyers can take advantage of these resources through the Minnesota Home Start-Up Loan Program, which offers fixed interest rates and loans for down payment and closing costs of up to $ 17,000 for homebuyers. a first qualifying home. Isanti County is considered part of the 11-county metropolitan area, so buyers can buy homes in Isanti County that cost up to $ 340,000. Income limits vary by location and household size, ranging up to $ 118,900.
Isanti County has participated in Minnesota Housing’s MCPP housing finance program for several years. In 2020, it generated more than $ 13.4 million in loan commitments in Isanti County, including more than $ 800,000 in down payment assistance for 83 families.
Minnesota Housing is a state agency that provides access to safe, affordable housing and builds stronger communities statewide. Minnesota Housing offers home purchase, refinancing and renovation loans, as well as financing for affordable rental housing throughout the state.
“Community partnerships between Minnesota Housing, our state’s cities and counties, and local lenders helped 5,139 households buy their first homes last year,” said Jennifer Leimaile Ho, Minnesota Housing Commissioner. “These affordable loans are making home ownership more accessible to more Minnesota.”
First-time buyers can get started by contacting participating Isanti County lenders. Visit www.mnhousing.gov for a complete list of approved lenders, current interest rates and program eligibility. You can also check out a recent webinar hosted by the Isanti County ACN at https://www.co.isanti.mn.us/742/Isanti– County-Housing-Realtor-Lender-Pre. The webinar also includes information on the housing assistance resources available to maintain safe and affordable housing in Lakes and Pines in Mora.
Minnesota Housing works with individuals, communities and partners to create, preserve and finance affordable housing. Learn more about www.mnhousing.gov.