Housing and Redevelopment Authority of Douglas County
Home Ownership Assistance
1224 Nokomis St, Alexandria, MN, 56308
(320) 762-3849
info@douglascountyhra.org
https://douglascountyhra.org/other
Service Details
Description
Home ownership program that offers financial assistance to make home purchases more affordable for those that meet eligibility requirements
Additional Information
Offers a Down Payment Assistance Program to help with down payment and/or closing costs, designed to meet the needs of low and moderate income homebuyers who wish to purchase a home, but are unable to provide the necessary liquid assets and/or qualify at the present time to finance the transaction without assistance.
The assistance is in the form of a lien secured by the purchased property.
The maximum assistance amount is $5,000.00. The amount is based on an as-needed basis. Maximum loan term of 7 years at 1% interest.
Features
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Area Served by County
- Douglas County
- Pope County
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Specialization
- Family
- People with low income
Eligibility
Must meet requirements and restrictions in regard to income limits, location of purchased property, type of property, etc.
Loans are offered in Douglas and Pope Counties, not including the city limits of Alexandria.
Area Served
Serving Douglas and Pope counties.
Home Repair Financial Assistance available for Becker, Douglas, Otter Tail, Pope, and Todd counties.
Bridges Rental Assistance serves Douglas, Grant, Pope, Stevens and Traverse counties.
Websites
Phone Numbers
Type | Number | Hours |
---|---|---|
Main | (320) 762-3849 |
Last Update
10/9/2024
Other Locations
This provider does not offer this service at other locations.
Other Services or resources
Taxonomy Terms Used: Clicking a taxonomy term from the list below launches a new search.
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BH-3500.3400-250First Time Buyer Home Loans Definition
Programs that provide low interest down payment/closing costs loans and/or home purchase loans for people with low incomes who are purchasing a home or a condominium for the first time. These loan programs generally require that the property be used as a primary residence; allow lower down payments, assistance with closing costs and alternative credit; and often require participation in home buyer training classes.
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YL-3300.4500Low Income Definition
Individuals or families whose annual income is between 150 and 200% of poverty level for their family size.
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YL-3300.6500Poverty Level Definition
People whose annual income is within the federal poverty level guidelines which vary according to family size and are revised annually.