Down Payment & Rehabilitation Assistance Available In Buffalo, MN

buffalo downpaymentThe City of Buffalo recently announced in their fall newsletter that the city has received funding through the Neighborhood Stabilization Program (NSP). This funding will provide a great incentive to home buyers by providing down payment and rehabilitation assistance in Buffalo, MN to purchase and fix vacant and foreclosed homes.

Homes eligible for purchase will be:

  • located in the target neighborhoods of Buffalo Hills and Grandview
  • foreclosed and currently vacant
  • owner-occupied/home buyers primary residence
  • discounted 1% off current market value through purchase offer and negotiations

Will I be Eligible?
Buffalo home buyers who meet the program income guidelines and can qualify for a first mortgage through a local lender will be eligible to utilize the assistance funding. Income limits are based on family size and are listed below.

Family Size & Annual Gross Household Income Limits
1 Person – $70,500
2 Persons – $80,550
3 Persons – $90,600
4 Persons – $100,700
5 Persons –  $108,750
6 Persons – $116,800
7 Persons – $124,850
8 Persons – $132,900

Please check out the website www.cmhp.net or contact Lenee at the Central Minnesota Housing Partnership for more information: 320-259-0393 or lenee@cmhp.net

As a Buffalo, MN Realtor, I can help you with this program as well.  Please contact me.

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