BEMIDJI -- The Headwaters Regional Development Commission, in partnership with Minnesota Housing, is providing more than $1.2 million to provide affordable mortgages throughout the region.
According to a press release, the state agency and the HRDC have announced more than $52 million across Minnesota for affordable mortgages to first-time homebuyers. Regionally, the amount is available to Beltrami, Clearwater, Hubbard, Lake of the Woods and Mahnomen counties.
Buyers can take advantage of the resources through the state's Housing Start Up loan program. The release states the program offers fixed interest rates, down payment and closing cost loans up to $15,000 for eligible first-time homebuyers.
Homes can be purchased up to $283,300. Income limits through the program vary by location and household size, going up to $101,800.
"Minnesota Housing has helped create affordable home ownership opportunities in the region for many years," said Tim Flathers, executive director of the HRDC. "We're grateful for the resources that help so many households throughout the region to purchase their first homes."
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"Community partnerships between Minnesota Housing, local lenders and organizations like the HRDC, help over 2,000 households a year purchase their first homes," Minnesota Housing Commissioner Jennifer Leimaile Ho said. "These affordable loans make homeownership more accessible for Minnesotans."
For more information on the program, visit www.mnhousing.gov or http://www.hrdc.org/. The HRDC can also be reached at (218) 444-4732.
