The Coon Rapids Mortgage Assistance Foundation (CRMAF) has funds available to help with costs associated with purchasing a new home.
Loan Terms
- Loan amounts up to $5,000
- 0% APR
- Income limit of 110% of AMI based on household size
- The loan is deferred until the property is sold, transfered 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 Strecth workshop or other valid homebuyers course offered througn an approved counseling agency by the US Department of Housing and Urban Developmnent (HUD).
Property Eligibility
This program:
- 1-4 unit
- Must be owner-occupied
- Single family, townhomes, twinhomes, condominiums, and properties held in a trust are eligible