Grow North Down Payment Assistance

Ang Grow North Down Payment Assistance ay isang ipinagpalibang pangalawang loan para sa mga bibili ng bahay sa 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. Ang pondo ay mula sa Local Government, CPED, at HRA.

Ipinagpaliban ang Grow North Down Payment Assistance, kaya walang bayarin hanggang maibenta o ma-refinance ang bahay, o mabayaran nang buo ang unang mortgage. Kailangang bayaran kapag may 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. Nakatala ang tulong bilang lien sa posisyong 2. Ang mga tuntunin sa pagpapatawad at pagbabayad ay itinatakda ng programa at maaaring magbago — kumpirmahin ang mga ito sa opisyal na pahina ng programa bago mag-apply.

Bukas ang Grow North Down Payment Assistance sa mga bibili ng bahay na titira sa bahay bilang pangunahing tirahan. Tungkol sa credit, sinasabi ng programa: Per first-mortgage lender. Kailangan ang kurso sa homebuyer education, sa pamamagitan ng Minnesota Homeownership Center / Framework / HUD-approved counseling agency. Requirement sa paninirahan: Property must be located in Near North or Camden communities of Minneapolis and used as borrower's principal residence. Citizenship o katayuan sa imigrasyon: 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.

Nililimitahan ng Grow North Down Payment Assistance ang kita ng sambahayan sa 115% ng median na kita sa lugar, na nag-iiba ayon sa county at laki ng sambahayan. 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). Nalalapat ang limit sa kabuuang kita ng sambahayan, hindi lang sa kita ng nanghihiram. Nakalista sa programa ang pinakamalaking laki ng sambahayan na 8. Ang mga numero ng median na kita sa lugar ay inilalathala ng HUD at ina-update taun-taon, kaya tingnan ang kasalukuyang talahanayan para sa county bago umasa sa isang numero.

Ganito nililimitahan ng Grow North Down Payment Assistance ang presyo ng pagbili: No fixed program cap; subject to first-mortgage product limits. Kabilang sa mga kwalipikadong uri ng ari-arian ang Single-family detached, Duplex, Townhome, at Condominium. Kwalipikado ang bagong gawang bahay. Hindi kwalipikado ang mga manufactured home.

Pinaglilingkuran ng Grow North Down Payment Assistance ang mga bibili ng bahay sa Minneapolis, Minnesota. Tinutukoy ng programa ang mga partikular na lugar: Near North and Camden communities of North Minneapolis (Hennepin County), MN; employer must operate in North Minneapolis.

Dumadaan sa ang ahensyang nangangasiwa ang mga aplikasyon para sa Grow North Down Payment Assistance, na naglalathala ng kasalukuyang mga tuntunin at mga hakbang sa pag-apply sa sarili nitong site. Nirereserba ang pondo sa pamamagitan ng Application via Minneapolis CPED with employer verification and signed purchase agreement. Ang Hey Prescott ay hindi nagpapautang at hindi tumatanggap ng aplikasyon; inilalarawan ng pahinang ito ang programa para madala ito ng bibili ng bahay sa isang lender o housing counselor.