Grow North Down Payment Assistance

Grow North Down Payment Assistance es un segundo préstamo diferido para compradores de vivienda en Minneapolis, Minnesota. Grow North Down Payment Assistance is a CPED-administered employer-linked down payment assistance program for employees of North Minneapolis businesses purchasing homes in the Near North or Camden communities. The 0% interest deferred second mortgage of up to $10,000 supports both the recruitment of employees by Northside employers and homeownership in the Northside neighborhoods. Repayable in full at the end of the first-mortgage life, refinance, transfer of title, or 30-year deferment whichever occurs first. Zero-interest deferred loan of up to $10,000 in down payment and/or closing-cost assistance for employees of recruited businesses physically operating in North Minneapolis (Near North or Camden communities) who purchase a home in those neighborhoods. No monthly payments. 100% repayable at end of life of first mortgage, when home is no longer primary residence, or at end of 30-year term. Los fondos provienen de Local Government, CPED y HRA.

Grow North Down Payment Assistance es diferido, así que no hay pagos hasta que la vivienda se venda o se refinancie, o se termine de pagar la primera hipoteca. El reembolso se activa por Due in full at end of first-mortgage life, refinance with cash-out, transfer of title, loss of owner-occupancy, or end of 30-year term. La ayuda se registra con un gravamen en posición 2. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Grow North Down Payment Assistance está abierto a compradores de vivienda que vivirán en la vivienda como su residencia principal. Sobre el crédito, el programa indica: Per first-mortgage lender. Se requiere un curso de educación para compradores de vivienda, a través de Minnesota Homeownership Center / Framework / HUD-approved counseling agency. Requisito de residencia: Property must be located in Near North or Camden communities of Minneapolis and used as borrower's principal residence. Ciudadanía o situación migratoria: U.S. citizen or legal U.S. resident. Borrower must be employed by an employer (for-profit, non-profit, or public sector) physically residing and operating in North Minneapolis. Buyer must purchase a home in the Near North or Camden communities of Minneapolis. Household income may not exceed 115% of HUD AMI. Borrower must be U.S. citizen or legal U.S. resident. Buyer must have a valid, fully executed purchase agreement at time of application.

Grow North Down Payment Assistance limita el ingreso del hogar al 115% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income at or below 115% HUD AMI for Minneapolis-St. Paul-Bloomington MSA: 1-person $72,950 to 8-person $137,550 (FY2025 limits). El límite se aplica al ingreso total del hogar, no solo al del prestatario. El programa indica un tamaño máximo de hogar de 8. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Grow North Down Payment Assistance limita el precio de compra así: No fixed program cap; subject to first-mortgage product limits. Los tipos de propiedad elegibles incluyen Single-family detached, Duplex, Townhome y Condominium. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Grow North Down Payment Assistance atiende a compradores de vivienda que compran en Minneapolis, Minnesota. El programa se dirige a áreas específicas: Near North and Camden communities of North Minneapolis (Hennepin County), MN; employer must operate in North Minneapolis.

Las solicitudes de Grow North Down Payment Assistance se tramitan a través de la agencia que administra el programa, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Application via Minneapolis CPED with employer verification and signed purchase agreement. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.