Minneapolis Community Development Agency MCDA
MCDA MORTGAGE PROGRAM OFFERS 7.1% INTEREST RATE
(Minneapolis)- MCDA interest rates continue to rank below the market as a new phase
of the Minneapolis Community Development Agency (MCDA) CityLiving home program has
begun. The new program offers a fixed interest rate of 7.1% on a 30-year mortgage loan.
Through MCDA mortgage programs, qualified homebuyers and Minneapolis homeowners
may obtain purchase, purchase and rehab, or refinance and rehab loans. The property
must be a single-family dwelling within City of Minneapolis limits.
"Minneapolis is a vibrant, healthy city in which to live," says Minneapolis Mayor Sharon Sayles Belton.
"The MCDA CityLiving programs make it possible for more people to own homes in the city.
The low interest rates make home ownership more affordable, which in turn helps the city to thrive."
Qualified first-time homebuyers whose annual household income is $68,600 or lower may purchase
a home with a sales price of up to $149,485 with a 30-year FHA, VA, or conventional mortgage loan.
This program is also available to qualified homebuyers who are not first-time buyers, who purchase
a home in a targeted area (call the CityLiving department at (612) 673-5288 for a listing of qualified
areas). The MCDA has partnered with new lenders who offer CityLiving home loans, accelerating the
home-buying process and making it more accessible to prospective home buyers.
Branch in your Area
Find out how much home you can afford before you go shopping. Our FREE mortgage analysis takes
less than 5 minutes to complete. We also offer Pre-Approvals. Not only will you know how much home
you can afford, but you'll be Pre-Approved. Once you find your dream home, we can close in days, not weeks!
FHA, VA, & Conventional Loans
Fixed & Adjustable Rate Mortgages
No Doc & Stated income Loans
Rehab Loan Programs
FREE No-Obligation Mortgage Analysis
First-Time Homebuyers Programs
Jumbo Loans
Purchase & Refinance
Corporate Programs
Internet On-Line "Quick App."
Local Service
MCDA Public Information
For IMMEDIATE RELEASE (612) 673-5121
Apply for a loan online, e-mail us for information, or please contact:
Equal Housing Lender
Minnesota Housing Finance Agency (MHFA)
Buy a Home
Minnesota Homes Division
You Can Own A Home!
The Homes Division of the Minnesota Housing Finance Agency has programs for first time
homebuyers that include downpayment assistance and other ways to make buying a home affordable.
Low Down Monthly
Interest Payment Payment
Mortgages Assistance Assistance
Mortgage Indian Homebuyer
Funds in your Area Housing Programs Counseling
Brochures Communities, Lenders Mortgage
& Requests for Proposals Calculators from Home Path.com
You Can Unlock The Secrets To Homeownership!
Minnesota's Homebuyer Training Program
You Can Do It Now!
Call Minnesota Housing Finance Agency to find the Home Stretch provider nearest you!
Find a workshop in your neighborhood
For a list of Home Stretch providers call
Minnesota Housing Finance Agency at
Twin Cities (651) 296-8215
Greater Minnesota (800) 710-8871
TTY (651) 297-2361
You Can Check Us on the internet at: www.mhfa.state.mn.us
For more "You Can" information, pick up your (green) Minnesota Mortgage Program brochure.
"You Can own your own home!"
Minnesota's Homebuyer Training Program
If You:
have rented for years.
have always wanted to buy a home but thought you could not afford one.
The Home Stretch Program may be the key to a home of your own!
Unlock the secret to homeownership!
Purchasing a home is one of the biggest investment you will ever make!
Take your first step to unlocking the secret to homeownership
by attending a Home Stretch workshop near you!
Home Stretch workshop will teach you what you need to know to become a homeowner.
Home Stretch workshops make it easy!
Local housing professionals will walk you through each step of the homebuying process
from budgeting, to afford a home, to completing, to completing a loan application,
all the way to closing on and maintaining your new home.
The keys to homeownership!
The Home Stretch course and materials were developed by the
Minnesota Housing Finance Agency in cooperation with
housing professionals, Home Stretch workshop
subjects cover all the keys to homeownership including.
Is homeownership right for me?
Overcoming barriers to homeownership
Shopping for a home
Financing your home
Qualifying for your mortgage
The purchase process
Closing on your home
Life
as a homeowner
Home Stretch is an approved homebuyer education course
Some mortgage lenders require homeowners to complete and approved homebuyer
education course in order to qualify for affordable mortgage loans.
Home Stretch has been approved by many mortgage lenders to meet this requirement, including:
Fannie
Mae & Freddie Mac
Federal Housing Administration
Rural Development (Formerly Farmer's Home Administration)
GE Mortgage Insurance Corp.
Mortgage Guaranty Insurance Corp.
PMI Mortgage Insurance Corp.
For more information on the Home Stretch Program, please contact
the Minnesota Housing Finance Agency, by e-mail
Call Minnesota Housing Finance Agency today for a list of Home Stretch
providers nearest you! at: (651) 296-8215 or 1-800-710-8871.
Equal Housing Lender
email: webmaster@desktopsys.com