The City of Coon Rapids has funds available to help with costs associated with purchasing a new home.
Loan amounts up to $5,000
Income limit of 110% of AMI based on household size
The loan is deferred until the property is sold, transferred or is no longer owner-occupied
Financing is secured by a mortgage on the property
Closing costs apply
Prior to closing the homebuyer(s) MUST attend a Home Stretch workshop or other valid homebuyers course offered through an approved counseling agency by the US Department of Housing and Urban Developmnent (HUD).
Must be owner-occupied
Single family, townhomes, twinhomes, condominiums, and properties held in a trust are eligible