Minnesota Housing is a state agency committed to finance and advance affordable housing opportunities for low and moderate income Minnesotans to enhance quality of life and foster strong communities. If ranked among commercial banks, it would be the sixth largest bank, with total agency wide assets of $3.2 billion as of March 31, 2008.

Features: Interest-free loans to help with down payment and/or closing costs.

Repayment: The loan is in the form of a second mortgage to be repaid when owners sell or refinance the house, pay it off or the home is no longer owner-occupied.

Information: www.mnhousing.gov

Over the next two years, Minnesota Housing will invest more than $1.6 billion to further our four strategic priorities:

• Finance new affordable housing opportunities
• Preserve existing affordable housing
• End long-term homelessness
• Increase emerging market homeownership

As the state’s affordable housing financial institution, Minnesota Housing is a state agency that will invest more than $1.6 billion during the 2008-2009 biennium to address a continuum of affordable housing needs for an estimated 90,000 households across the state.

Tags: Closing Costs, Down Payment, Home Owners, Interest Free Loans, Mortgage

Posted on Wednesday, June 24th, 2009 at 8:28 pm and is filed under Buy a House. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.