Pine County Partners with MN Housing to Offer Mortgages to First Time Buyers

From the Minnesota Housing Authority:

Minnesota Housing announced over $64 million is available to provide affordable mortgages to first-time homebuyers through a collaboration with Minnesota cities and counties, including an allocation for Pine County.

Homebuyers can take advantage of these resources through the Minnesota Housing Start-Up loan program, which offers fixed interest rates and downpayment and closing cost loans up to $17,000 for eligible first-time homebuyers. Buyers can purchase homes in Pine County that cost up to $311,900. Income limits vary by location and household size, going up to $107,000.

Minnesota Housing is a state agency that provides access to safe and affordable housing and builds stronger communities across the state. Minnesota Housing offers purchase, refinance, and home improvement loans, as well as financing for affordable rental housing throughout the state.

“Community partnerships between Minnesota Housing, organizations like Pine County HRA-EDA and local lenders help over 2,000 households a year purchase their first homes,” said Minnesota Housing Commissioner Jennifer Leimaile Ho. “These affordable loans make homeownership more accessible for more Minnesotans.”

First-time buyers can get started by contacting participating lenders in the Pine County area. Visit www.mnhousing.gov for a full list of approved lenders, current interest rates, and program eligibility.