To revitalize and stabilize targeted communities across the country the U.S Department of Housing and Urban Development established the Neighborhood Stabilization Program to help homebuyers purchase and redevelop foreclosed properties. You do not have to be a first-time homebuyer to be qualify.
Targeted areas in Minnesota include: Brooklyn Center, Brooklyn Park, Champlin, Crystal, New Hope, and Richfield. Click link for mapped boundaries: NSP Targeted Areas.
Highlights:
0% Interest
Maximum Assistance $10,000
Pay all closing costs, Prepaid expenses and ½ of required down payment.
Borrower must have $1,000 of their own cash into the purchase
Additional Affordable Assistance up to $20,000
Fully forgivable after 5 years/10 years for amounts above 14,999
Combine with FHA 203k and get up to $35,000 for improvements
First-Time Homebuyers may be eligible for $8000 Buyer Tax credit- expires 12/1/09
Call Peter Boyle 612.701.6816 NMLS License # 218261 Serving Minneapolis, St Paul, and Surrounding Areas!
*Summit Mortgage Corporation *Please check with your lender for current pricing and personal mortgage analysis. *The information in this Web site can change without notice. This is an Equal Housing Lender
Summit Mortgage Corporation #1041 13355 10th Ave N Suite 100 Plymouth, MN 55441
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