The Goodhue County Down Payment and Closing Cost Assistance Program’s mission is to support working individuals and families in achieving homeownership. This will be achieved through providing individuals and families with access to a down payment & closing cost assistance program. The assistance will be in the form of a 0%, deferred loan. Eligible applicants will be able to qualify for up to $10,000 to be used toward the purchase of a home. Applicants will be served on a first come, first served basis.
Qualified Homebuyers Must:
- Be purchasing a home in Goodhue County (excluding the City of Red Wing)
- Meet income guidelines (1-2 person-$93,100, 3+ person-$107,000)
- Have one household member who is working at least 30 hours per week
- Have a minimum 640 credit score
- Be pre-approved for a mortgage
- Attend a homebuyer education class
- Contribute $500 toward the purchase of the home
- Obtain a home inspection
For a copy of the complete rules and income limits for the program, click here.
To apply for the Goodhue County Down Payment and Closing Cost Assistance Program, please click the link on the sidebar.