| First
time home buyers
Down
Payment Assistance
First Time Home Buyers - MN City Participation
Program
First Time Homebuyers
Down
Payment Assistance
The down payment assistance program provides qualifiers with assistance
for a specified percentage or dollar amount of their mortgage. Funds
are limited to certain programs or cities.
First
Time Home Buyers - MN City Participation Program
Contact Person:
Tracy Wohlers
134 East Second Street
Wabasha, MN 55981
(651)565-2638 ext. 216 or (800)450-4501
E-mail: tracyhra@wabasha.net
What Is a First Time Home Buyer Loan?
The first time home buyer loan through Minnesota Housing Finance
Agency - Minnesota City Participation Program provides the borrower
a 5.7% interest rate. With that rate you will save money. It also
means lower income borrowers can qualify.
The first time homebuyer program is provided by SEMMCHRA. Money
is available throughout Goodhue, Wabasha and Winona Counties and
the City of Red Wing. The cities of Lake City, Wabasha and Winona
are excluded from this program, but are administering their own
programs. Please contact them directly if you are inside those city
limits.
Home Qualifications:
You may use your first time home buyer loan to purchase a home (detached,
townhouse or qualified condominium) throughout the Counties of Goodhue,
Wabasha and Winona (excluding the City of Lake City, Wabasha and
Winona) and the City of Red Wing.
Purchasing Qualifications by County:
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Goodhue
County:
* existing home must not exceed $128,138
* new home must not exceed $131,070
* income limit for purchaser for 1 person is $36,100; for 2 persons
is $41,300; for 3 persons is $46,450 for 4 persons is $51,600.
Wabasha County:
* existing home must not exceed $113,941
* new home must not exceed $131,070
* income limit for purchaser for 1 person is $36,100; for 2 persons
is $41,300; for 3 persons is $46,450 for 4 persons is $51,600.
Winona County:
* existing home must not exceed $105,055
* new home must not exceed $131,070
* income limit for purchaser for 1 person is $36,100; for 2 persons
is $41,300; for 3 persons is $46,450 for 4 persons is $51,600.
How To Get Started:
Call one of the participating lenders and ask for the person who
handles affordable mortgage products for more information or to
apply for your loan.
Funds are limited for the program and downpayment assistance, so
act fast.
Participating Lenders:
-- Cannon Falls
Community National Bank 507-263-3624
Marquette Bank 507-263-4214
-- Lake City
American Bank 651-345-3311
Lake City Federal Savings 651-345-3373
-- Red Wing
Wells Fargo Home Mortgage 651-385-2304
-- Rochester
ABN AMRO Mortgage 507-282-2207
Countrywide Home Loans 507-289-3606
CTX Mortgage 507-281-2600
Edina Realty Mortgage 507-288-7665
Home Federal Savings Bank 507-289-4025
Marquette Bank 507-285-2670
Merchants National Bank 507-282-7535
Premier Bank Rochester 507-285-3853
Sterling State Bank507-252-7220
TCF Mortgage 507-289-2565
Temple-Inland Mortgage 507-280-4075
US Bank 507-285-2960
Wells Fargo Home Mortgage 507-285-2960
-- Winona
ABN AMRO Mortgage 507-454-6612
AMCAP Mortgage and Financial 507-457-0449
Fortress Bank 507-452-5202
Home Federal Savings Bank 507-454-4912
Merchants National Bank 507-457-1163
Wells Fargo Home Mortgage 507-457-1325
SEMMCHRA HAS HOMES AVAILABLE TO FIRST TIME HOMEBUYERS!
Check out--Our Homes For Sale
First
Time Homebuyers
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Contact
Person:
Tracy Wohlers
134 East Second Street
Wabasha, MN 55981
(651)565-2638 ext. 216 or (800)450-4501
E-mail: tracyhra@wabasha.net
What Is a First Time Home Buyer Loan?
The first time home buyer loan provides the borrower a *6.15% interest
rate. With that rate you will save money. It also means lower income
borrowers can qualify.
The first time homebuyer program is provided by SEMMCHRA. Money
is available throughout Goodhue, Wabasha and Winona Counties and
the Cities of Red Wing.
Home Qualifications:
You may use your first time home buyer loan to purchase a home (detached,
townhouse or qualified condominium) throughout the Counties of Goodhue,
Wabasha and Winona (excluding the City of Winona).
Purchasing Qualifications by County:
Dodge County:
* existing home must not exceed $102,442
* new home must not exceed $131,070
* income limit for purchaser for 1 person is $35,000; for 2 persons
is $40,000; for 3 persons is $45,000 for 4 persons is $50,000.
Goodhue County:
* existing home must not exceed $128,138
* new home must not exceed $131,070
* income limit for purchaser for 1 - 4 persons is $59,300.
Wabasha County:
* existing home must not exceed $113,941
* new home must not exceed $131,070
* income limit for purchaser is $54,700.
Winona County:
* existing home must not exceed $105,055
* new home must not exceed $131,070
* income limit for purchaser is $54,500.
How To Get Started:
Call one of the participating lenders for more information or to
apply for your loan.
Funds are limited for the program and downpayment assistance, so
act fast.
Participating Lenders:
Wells Fargo (Norwest) - 800-562-1506
SEMMCHRA HAS HOMES FOR SALE! Call for more information for
visit the link below. Check out--Our
Homes For Sale
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