Minneapolis/St Paul, MN

The CityLiving Home Program is a joint effort between the City of Minneapolis and the City of Saint Paul. For over 20 years, the Minneapolis Community Development Agency (MCDA) and the Housing and Redevelopment Authority of the City of Saint Paul (HRACSP) have worked together to provide opportunities to First Time Homebuyers.

Total Program Funds
Interest Rates - 30 yr. Fixed	by Commitment Lots - The Interest Rates for each Lot will be determined at pricing.
Origination	1.00%
Discount	0.00%
Eligible Areas	Cities of Minneapolis & Saint Paul
Eligible Homebuyer	First time homebuyer-First-time homebuyer programs generally indicate that you have not owned a property for the past three (3) years.
Allocations	CURRENT Commitment Lots Lot 1 - Low Rate - 4.75% Assisted Rate - 4.99% - 2% dpa
Loan Types	FHA, VA, FannieMae Conventional See Guide for details Qualified Rehabs,
Assistance	DPA - 2% DPA by specified Rates for DPA
Loan Commitments Time Line	Loans expire 45 days after reservation if not underwritten online via the underwriters cert.
Income Limits	Non Target - 1-2 person hhld $83,900 3+ person hhld $92.290 Target - All hhld $92,290 See Guide for details
Acquisition Limits	Non Target $276,870 See Guide for details
Final Purchase Dates -	12/31/2010
Participating Lenders	Bell Mortgage Bremer Bank Clearwater Mortgage Cornerstone Mortgage Company Edina Realty Mortgage Fairway Independent Mortgage Corporation Granite Mortgage & Construction Finance, Inc. Lake Area Bank Marketplace Home Mortgage LLC MidCountry Bank Mortgage & Investment Consultants, Inc. Mortgages Unlimited, Inc. PHH Home Loans Prime Mortgage Residential Mortgage Group River City Mortgage Summit Mortgage Corporation Tradition Mortgage US Bank Home Mortgage Waterstone Mortgage Corp. Wells Fargo Home Mortgage

Federally Designated Targeted Areas
Minneapolis 22, 33, 35.01, 59.01, 59.02, 68, 73.01, 77, 78.01,78.02, 79, 83, 84, 1014, 1015, 1016, 1021,1028, 1029, 1034, 1041, 1048, 1054, 1057,1060, 1069, 1070, 1071, 1072
Saint Paul 305, 327, 329, 331, 337

Program Information and Materials-
Administrator's Program Guidelines, ALL Program Forms, Shipping Checklists and Stacking Sheets, Guidelines (Underwriting, Delivery & Funding, Fannie, Freddie, FHA) All Presentations, Homebuyer Education, Bulletins, DPA , PMI, Closing Docs, Marketing Materials.....

FAQ