The Southeastern Minnesota Multi-County Housing and Redevelopment Authority announced that Dodge, Goodhue, Wabasha and Winona Counties received a $1 million allocation to provide homeownership opportunities through single-family mortgage revenue bonds. The mortgage offered is a 30-year, fixed rate loan. These funds are available exclusively to residents in Dodge, Goodhue, Wabasha, and Winona Counties (excluding the cities of Red Wing and Winona) on a first come, first served basis.

Qualified first-time homebuyers who meet established income limits may be eligible to receive down payment or closing cost assistance. Funds may be used for the purchase of a new or existing home. The purchase price limit of a home is $294,600. 

Homebuyer education is required for some Minnesota Housing Finance Agency loan programs. SEMMCHRA offers homebuyer education classes and homebuyer counseling services.

To obtain a list of local participating lenders, program requirements or information on homebuyer education & counseling, homebuyers can contact the Southeastern Minnesota Multi-County Housing and Redevelopment Authority and talk with Tressa at 651-565-2638, ext. 204 or email tsauke@semmchra.org. Visit semmchra.org for more information.

Load comments