The Northfield Housing and Redevelopment Association (HRA) provides a down payment or closing cost assistance program for first-time homebuyers purchasing a home within the Northfield city limits. Funds are in the form of 0% interest loans, with no payments due until the home is sold or refinanced. Requirements:
Buyers must meet income guidelines for their target category.
Buyers must complete an eight-hour Home Stretch homebuyer education class.
Buyers must be able to qualify for a first mortgage that meets program guidelines (long-term, fixed interest rate).
Three Rivers Community Action has a down payment and closing cost assistance program for eligible buyers in that may be used in conjunction with the city’s program. Buyers can qualify for up to $18,500 based on individual household need. Funds are in the form of 0% interest loans, with no payments due until the home is sold or refinanced. Buyers must be one of the three target categories: