Purchase Assistance Loan

Purchase Assistance Loan es un segundo préstamo diferido para compradores de vivienda en Duluth, Minnesota. 1 Roof's general low-income DPA. Up to $15,000 0% deferred second. Duluth/Arrowhead region. 80% AMI cap ($53,350-$100,550). 640 FICO. FTHB required. 1 Roof Community Housing's general Purchase Assistance Loan is a 0% interest deferred second-mortgage DPA of up to $15,000 available to low-to-moderate-income first-time homebuyers purchasing a primary residence in the Duluth / Arrowhead region of NE Minnesota. The assistance is funded through CDBG, HOME, MN Housing Impact Fund, and local foundation sources, and is structured as a deferred loan with no monthly payments. The full balance is due upon sale, refinance with cash-out, transfer of title, or non-owner-occupancy. Buyers must be at or below 80% AMI Duluth MSA, complete 1 Roof's homebuyer education + counseling, and contribute at least $1,000 of their own funds. Los fondos provienen de CDBG, HOME, State y Local Government.

Purchase Assistance Loan 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 0% interest deferred second mortgage. Balance due on sale, refinance with cash-out, transfer of title, or non-owner-occupancy. La ayuda se registra con un gravamen en posición 2nd Lien. 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.

Purchase Assistance Loan está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Primera vez” tiene excepciones aquí: FTHB requirement may be waived in MN Housing federally targeted areas. Sobre el crédito, el programa indica: 640 minimum FICO per first-mortgage product overlay. Se requiere un curso de educación para compradores de vivienda, a través de 1 Roof Community Housing - HUD-approved housing counseling agency. Pre-purchase 8-hour homebuyer education (Framework or in-person) plus one-on-one counseling required. Requisito de residencia: Property must be in 1 Roof service area (NE MN: St. Louis, Carlton, Itasca, Lake, Cook counties). Ciudadanía o situación migratoria: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays. Must be a first-time homebuyer (no ownership of a primary residence in the prior 3 years). Income at or below 80% AMI Duluth MSA: $53,350 (1-person) up to $100,550 (8-person household). Property must be located within 1 Roof's service area (St. Louis, Carlton, Itasca, Lake, Cook counties primarily). Must complete 1 Roof homebuyer education and one-on-one counseling. $1,000 minimum borrower contribution from own funds. Property must be primary residence within 60 days of closing.

Purchase Assistance Loan limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. 80% AMI Duluth MSA: $53,350 (1-person) up to $100,550 (8-person). Verify by household size at intake. El límite se aplica al ingreso total del hogar, no solo al del prestatario. 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.

Purchase Assistance Loan limita el precio de compra así: Per MN Housing Start Up purchase price limits ($379,650-$515,200 by county) when stacked with MN Housing first mortgage. Los tipos de propiedad elegibles incluyen Single-family detached, condominium (project-approved), townhouse, PUD, manufactured home (real-property-titled), 1-2 unit owner-occupied. La construcción nueva es elegible. Las viviendas prefabricadas son elegibles.

Purchase Assistance Loan atiende a compradores de vivienda que compran en Duluth, Minnesota.

Las solicitudes de Purchase Assistance Loan 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 1 Roof Community Housing intake. Pre-purchase counseling required. 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.