Downpayment assistance programs are used by many first-time home buyers because it makes buying a home more affordable and accessible. Below you will find links and information to programs and resources available to buyers in Rochester, MN.
Minnesota Housing is the state’s housing finance agency. They help promote home ownership through several housing programs. Below are two of them:
Three Rivers Community Action
TRCA is a non-profit organization here in Rochester, MN. They offer a full spectrum of services for the community. One of the programs is the Achieve Homeownership program. This program offers the following:
I have worked with many clients who have benefited from all these services and I would be happy to connect you directly with Three Rivers home buying counselors.
The MN HOC is a free connection to unbiased information, education and advice relating to all aspects of home ownership. They are a non-profit and great place to learn more about becoming a home owner.
Framework is an online home buyer education course. Framework satisfies the homebuyer education requirements for Fannie Mae HomePath Ready Buyer™ and HomeReady® by Fannie Mae
First Homes is a Community Land Trust (CLT). Essentially it makes buying a C.L.T. property affordable because it removes the price of the land from the sale price. In addition, when it come time to sell the home, First Homes uses a formula to make the sale of the property affordable to the next buyer. For more information click here.