Posted: 5/5/04

WC has funds for 1st-time home buyers

New resources are now available to first time home buyers in Washington County. The Washington County Housing and Redevelopment Authority has been awarded over $3 million of mortgage funding for first-time home buyers in the county.ÝThe HRA received the funds from the Minnesota Housing Finance Agencyís ìMinnesota Cities Participation Program.î ìQualifying families can obtain a low-interest mortgage, plus assistance of up to $10,000 with down payment costs,î said Barbara Dacy, executive director of the HRA. Households must meet certain income restrictions. To qualify for assistance, a four-person household cannot have total income of over $61,100. There are also home purchase price limits, and qualifying households must work with an approved MHFA lender. For information about the program, call the HRA at 651-458-0936, ext. 556 or 557, or call MHFA at 651-296-8215.

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