Down Payment & Rehabilitation Assistance Available In Buffalo, MN

Date posted: October 31, 2009

The 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.

Filed under: Buffalo Neighborhoods, Buffalo, Minnesota, Down Payment, Real Estate News by Marci Weiche