Home Ownership Workshop
Earn $$ toward your downpayment!
Do you want to own a home? Down payment assistance could make it happen! The Arrowhead Economic Opportunity Agency offers Homebuyer Assistance.
The Homeownership assistance program is designed to promote and encourage home ownership by providing down payment and closing cost loans to income-eligible, qualified buyers. The funds will be provided by Northeast Minnesota HOME Consortium. The program will help families overcome the biggest barrier to purchasing a home: having sufficient funds to meet the downpayment and closing costs.
Qualified families will be able to purchase homes anywhere in St. Louis (except Duluth), Lake, or Cook Counties. Education counseling and financial assistance are available through AEOA. AEOA conducts a series of Homestretch Workshops, open to anyone interested in learning how to buy a home. It is designed to give prospective homebuyers an understanding and knowledge of: -How real estate transactions work -Qualifications of homebuyer financing -Responsibilities of homeownership
Eligibility: Buyer(s) must complete the Homestretch Workshop. Buyer(s) must complete 1-on-1 counseling to qualify for assistance BEFORE Purchase Agreement is signed. The home purchased must pass the minimum Housing Quality Standards Inspection. Buyer(s) must be a first-time homebuyer (or not owned a home in the last 3 years). Buyer(s) must qualify for a mortgage. The counselor will assist in shopping for a mortgage. Buyer(s) are required to pay a minimum of $1,000.00 towards they purchase of a property from their own resources. Available mortgage programs may require additional buyer contributions. Household income must be below the following income limits. (80% below the County median income) 2017 guidelines
- June 9, 2018
- 8:30AM - 5:00PM