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Arrowhead Economic Opportunity Agency (AEOA)

Home Ownership Assistance

Virginia Office

702 S 3rd Ave, Virginia, MN, 55792

Distance: 1399 Miles

(218) 735-6895

Website

https://www.aeoa.org/homeownership

Service Details

Description

Home ownership program that offers financial assistance to make home purchases more affordable for those that meet eligibility requirements


Additional Information

The Homeownership Program is designed to promote and encourage homeownership by providing down payment and closing cost loans to income-eligible, qualified buyers.


Provides 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


Provides counseling focusing on affordability, types of mortgages, budgeting and savings.
* This service is available to anyone


Features

  • Organization Type
    • Community Action Partnership 
  • Specialization
    • Family 
    • People with low income 

Eligibility

Serves Cook, Lake and St. Louis counties, excluding the city limits of Duluth.


Down Payment and Closing Cost Assistance program:
* Potential buyer must complete the Homestretch Workshop
* Complete counseling before a purchase agreement is signed
* Home must pass inspection
* First time homebuyer or not owned a home in the last 3 years
* Potential buyer must qualify for a mortgage. The Counselor will assist homebuyers in shopping for a mortgage.
* Pay a minimum of $1000 towards the purchase price
* Family income must be at or below 80% of the area median income in St. Louis, Cook, and Lake County


Application Instructions

Call for more information at (218) 735-6895


Business Hours

8:00am - 4:30pm, Monday - Friday


Area Served

Serves residents of St. Louis, Lake, and Cook. Service delivery for some programs has extended to the four neighboring counties of Aitkin, Carlton, Itasca, and Koochiching.
Some services available at this location are provided only in certain limited geographic areas. Please see the Eligibility requirements for each service to determine if that service is available in your location.
Groceries to Go is only available in St. Louis County


Websites

Phone Numbers

Type Number Hours
Main (218) 749-2912
FAX (218) 749-2944
Toll Free (800) 662-5711

Last Update

5/6/2022

Other Locations

This provider does not offer this service at other locations.

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