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Special Foreclosure Downpayment Assistance Funds

October 12th, 2009 · No Comments

Downpayment/Closing Cost Loans for Buyers of Foreclosed Properties

Greater Minnesota Housing Funds will provide downpayment and closing cost assistance loans of $10,000 or $15,000 (depending on buyer’s income and availability of GMHF funds) to income qualified buyers purchasing foreclosed home in Greater Minnesota. Nike Air Max 2018 Homme adidas y3 homme asics gel stratus femme nike air max 1 essential homme Parajumpers Masterpiece Passport New Balance Femme nike air jordan 13 homme nike internationalist enfants Nike Free 5.0 Homme Nike Air Max 2016 Homme nike air max 97 femme Asics Homme Loans have 0% interest and no monthly payments are required! If the buyer remains in the home for 5 years, nike air max 1 ultra flyknit femme Nike Air Max 2016 homme Adidas Superstar Femme Adidas Superstar Femme Portee Nike Air Max 90 Femme Noir Et Rose Air Jordan 1 bambini Nike Air Max Command Homme Nike Roshe Run Motif Homme Nike Femme nike dynamo free td Nike Roshe Run Femme adidas superstar 2 homme the entire loan amount is forgiven.

This program has two important goals: reducing the negative effects on foreclosures on comminutes and helping buyers become successful homeowners for the long term. Nike Air Force 1 homme Adidas Homme asics gel lyte 3 uomo adidas hamburg femme Nike Air Max Thea Femme Grise New Balance 990 homme Nike Dunk Mid homme Adidas Zx Flux Homme Pas Cher Nike Air Huarache enfants Air Jordan Eclipse Homme Nike Femme Doudoune Canada Goose To meet these goals, New Balance Pas Cher Nike Air Max 1 femme Nike Air Max 1 premium femme asics gel lyte iii homme Adidas Yeezy 350 Femme Nike Air Max 2016 Homme Adidas Zx Flux Homme Pas Cher nike internationalist homme Air Jordan 12 bambini Air Jordan 13 bambini Air Jordan 2 Homme Nike Roshe Run Femme Fleur the program has the following requirements:

  • The property must be a foreclosure or short sale
  • The property must be located in an incorporated city and have city sewer and water service
  • Buyer must meet income guidelines
  • Buyers must complete an eight-hour Home Stretch homebuyer education class (even if they have previously owned a home)
  • Buyers must be able to qualify for a mortgage that meets GMHF program guidelines
  • Buyers must obtain a professional inspection for the property they intend to purchase

Maximum Income to Qualify for Assistance:

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1 $40,900 $47,100 $43,700

2 $46,800 $53,800 $49,900

3 $52,600 $60,500 $56,200

4 $58,400 $67,200 $62,300

5 $63,100 $72,600 $67,300

6 $67,800 $78,000 $72,300

7 $72,500 $83,400 $77,300

8 $77,100 $88,800 $82,300

9 $81,800 $94,100 $87,300

10 $86,500 $99,500 $92,300

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