First-generation homebuyer assistance is here!

At the Vaz+Harwood Team we love our first-time homebuyers! So we were excited to hear about a new program from MN Housing for first-GENERATION home buyers. We are happy to hear about anything that might make homeownership possible for more of our buyers.

Who qualifies as a first-generation homebuyer?

According to MN Housing “You may qualify as a first-generation homebuyer if you and your parent(s) or legal guardian(s):”

  • Have never owned their primary residence (in any country) OR
  • Owned a home but lost it due to foreclosure
  • If you do not know if your parent or legal guardian owned a home or lost it due to foreclosure, you may still be eligible for the program.

How much assistance is available?

The program not only offers downpayment and closing cost help up to $35,000, it may be able to be combined with other MN assistance up to up to $53,000. How much you may qualify for depends on a number of factors. A qualified lender needs to advise you.

Are the funds always available?

No! There is a finite amount available, and when the funds run out, it’s out for at least this year. If you are considering buying a home, and this program might help you, let’s talk asap.

What are my next steps?

Talk to us and let us connect you with a participating lender. We have some great referrals to lenders we work with and trust, and who we know will be able to guide you.

More information

Please see MN Housing’s website for more information on this exciting new program:
 
Disclaimer: The Vaz+Harwood Team and Keller Williams Premier Realty are not in the mortgage business. The content of this page is for general information. Please consult a licensed mortgage professional for mortgage and financial guidance specific to your needs.

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