Three Rivers Community Action has financing available to assist eligible buyers in southern Minnesota obtain homeownership. Eligible buyers can receive downpayment and closing cost assistance in the form of a 0% loan, with no payments due until the home is sold or refinanced.
Target Buyer 1: Diverse Households (racial and ethnic minorities) at or below 80% of State Median Income
0% interest, 30 years, deferred, due on sale or satisfaction of first mortgage
Every loan amount is different, based on individual household need. Average assistance is $10,000. All loan amounts are determined by Three Rivers staff based on income, sale price, first mortgage approval, and housing expense ratio (target is 28%).
Three Rivers Homebuyer Application Form
Documentation of income for ALL members of household
Lender pre-approval letter
Completion of Homestretch buyer education class (for a list of classes, see www.hocmn.org )
FOR MORE INFORMATION:
Umbelina Treviño Cremer, 507‐421‐1214 • email@example.com