Loans are available for qualified first-time home-buyers in Winona County after the Southeastern Minnesota Multi-County Housing and Redevelopment Authority received a $1,405,513 allocation to provide homeownership opportunities through single-family mortgage revenue bonds, according to a press release.
The funds, which exclude home-buyers in the city of Winona, are available on a first-come, first-served basis. The mortgage offered is a 30-year, fixed-rate loan.
Home-buyers must meet established income limits to be eligible to receive down payment or closing cost assistance. Funds can be used for the purchase of a new or existing home, and the purchase price limit of a home is $472,030.
To obtain a list of local participating lenders and program requirements visit www.semmchra.org. This is an equal housing opportunity.