First-Time Buyer Incentives

Whether buying an existing home or building a new one, these programs provide financial resources to first-time buyers (must not have owned a home in the past 3 years.)

Minneapolis/St. Paul City Living Program

OPTIONS:

1. "Low Rate" currently at 4.75%
2. "Assisted Rate" currently at 4.99% with assistance of 2% of the loan amount

BASIC QUALIFICATIONS:

Principal residence only

Minimum 620 credit score

Household income limits apply

Maximum sales price $376,870

FHA and VA loans only

Dakota County Program

OPTIONS:

1. Low 4.99% fixed interest rate
2. Up to $10,000 in downpayment assistance for eligible buyers

BASIC QUALIFICATIONS:

Principal residence only

Minimum 620 credit score

Household income limits apply (i.e. $83,900 for 1 to 2 people, $92,290 for 3+ persons)

Maximum sales price $276,683

FHA and VA loans only

For more information, give Ginny or Tim a call.