More than $60 million is available to provide affordable mortgages to first-time homebuyers through a collaboration with Minnesota cities and counties, including $222,407 for Alexandria.
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 $15,000 for eligible first-time homebuyers
Buyers can purchase homes in Alexandria that cost up to $271,100. Income limits vary by location and household size, going up to $108,400 (11-county metro); $104,000 (Dodge and Olmsted) and $96,800 (all other counties).
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.
"Minnesota Housing's affordable loans, combined with the support of the Alexandria and local lenders, will help more families achieve homeownership," said Minnesota Housing Commissioner Jennifer Ho.
First-time buyers can get started by contacting participating lenders in the Alexandria area. Visit www.mnhousing.gov for a full list of approved lenders, current interest rates, and program eligibility.
Minnesota Housing collaborates with individuals, communities, and partners to create, preserve, and finance affordable housing. Find out more at www.mnhousing.gov.