Minnetonka Pathways to Homeownership Program

Ang Minnetonka Pathways to Homeownership Program ay isang loan na mapapatawad para sa mga bibili ng bahay sa Minnetonka, Minnesota, na pinangangasiwaan ng Minnetonka Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE). A 0% fixed-rate deferred, forgivable second-mortgage loan from the City of Minnetonka and its EDA (administered by CEE) providing down payment and closing cost assistance to first-time homebuyers (no homeownership in the past 7 years) purchasing a primary residence in Minnetonka. Assistance is tiered by household AMI band (10%-25% of purchase price, up to $50,000-$75,000). Forgives 5% per year and is 100% forgiven after 20 years of continuous owner-occupancy. 0% APR fixed. Deferred, forgiven 5%/yr and 100% after 20 years. Up to $75,000. Setup/origination fees paid by the program. Ang pondo ay mula sa City of Minnetonka and its Economic Development Authority.

Nag-aalok ang Minnetonka Pathways to Homeownership Program ng tulong na hanggang $75,000. Mga award tier: Tiered by AMI band: 25% of purchase price (<=50% AMI, up to $75,000); 20% (51-60% AMI, up to $70,000); 15% (61-80% AMI, up to $63,000); 10% (81-120% AMI, up to $50,000). Ambag ng bibili ng bahay: No minimum borrower contribution stated in primary sources. Ang mga halaga ay ang pinakamataas na inilathala ng programa, hindi isang alok — ang Minnetonka Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE) ang nagpapasya sa anumang indibidwal na award.

Pinapatawad ang Minnetonka Pathways to Homeownership Program pagkalipas ng 20 taon, kaya hindi na ito babayaran ng bibili ng bahay na mananatili nang ganoon katagal. Kailangang bayaran kapag may Sale, transfer, or ceasing to occupy/own as primary residence during the 20-year term; remaining unforgiven balance due. Forgives 5% annually; 100% forgiven after 20 years. Nakatala ang tulong bilang lien sa posisyong Second mortgage (subordinate; mortgage in favor of the Minnetonka EDA). 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 Minnetonka Pathways to Homeownership Program sa mga unang beses na bibili ng bahay at mga bibili ng bahay na titira sa bahay bilang pangunahing tirahan. May mga eksepsiyon dito ang "unang beses": Defined as not having owned a home within the past seven (7) years. Tungkol sa credit, sinasabi ng programa: All borrowers must have at least a 620 credit score; no outstanding liens or judgments. Kailangan ang kurso sa homebuyer education, sa pamamagitan ng Home Stretch (MN Homeownership Center), Framework, Minneapolis Urban League American Dream Program, or other HUD/City-approved program; evidence prior to closing. Requirement sa paninirahan: All borrowers must be legal residents of the U.S. Citizenship o katayuan sa imigrasyon: Borrowers must be legal residents of the U.S.; foreign nationals and illegal residents ineligible. Signed purchase agreement and application at least four weeks before closing; property homesteaded within 60 days; first mortgage fixed-rate; Declaration of Assets form; no outstanding liens or judgments. Income of all deed holders and resident spouse included. Larger assistance for lower AMI bands.

Nililimitahan ng Minnetonka Pathways to Homeownership Program ang kita ng sambahayan sa 120% ng median na kita sa lugar, na nag-iiba ayon sa county at laki ng sambahayan. Total gross annual household income cannot exceed 120% of AMI (family size of four for 1-4 person households; increases for larger families). HUD limits, adjusted annually. Nalalapat ang limit sa kabuuang kita ng sambahayan, hindi lang sa kita ng nanghihiram. 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.

Nililimitahan ng Minnetonka Pathways to Homeownership Program ang presyo ng pagbili sa $500,000. Kabilang sa mga kwalipikadong uri ng ari-arian ang Single Family, Townhouse, at Condo. Hindi kwalipikado ang mga manufactured home.

Pinaglilingkuran ng Minnetonka Pathways to Homeownership Program ang mga bibili ng bahay sa Minnetonka, Minnesota.

Dumadaan sa Minnetonka Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE) ang mga aplikasyon para sa Minnetonka Pathways to Homeownership Program, na naglalathala ng kasalukuyang mga tuntunin at mga hakbang sa pag-apply sa sarili nitong site. Nirereserba ang pondo sa pamamagitan ng First-come, first-served; application with signed purchase agreement at least four weeks before closing. 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.