I don't think I'm alone when I see articles or news reports about all the federal "stimulus" money available to help first time home buyers, or for homeowners to remodel the homes they live in. The problem I have though is, where do we find it?
I received a call from my finance guy and he asked me if I had heard of the new Affordable Advantage Program. I had not and he sent me a brochure explaining the highlights of the program. I was intrigued that this program existed. It sounded too good to be true. After some research on the internet, I was surprised to find other programs that offered help in either purchasing a home or remodeling your existing home.
In trying to find a new niche in the residential industry, I find that a lot of families just don't know where to get started. Steve and I hope to provide at the very least, some advice of where to start. At times it can seem overwhelming. But like all things, once you start, you always say why did I wait so long to get the ball rolling.
With that said, below is a short list of programs to consider when trying to fund your next project. Feel free to contact us with any questions or help that you need. We'd be glad to help!
First Time Home Buyers:
Affordable Advantage Program is a program that allows first time buyers to borrow up to 100% of the purchase price of a new home while only contributing $1000 as a down payment.
Mortgage programs for first time home buyers is also where you can find other programs available to first time home buyers.
Remodeling Loans:
Minnesota Fix-up Fund is a statewide program that offers loans at below market interest rates to homeowners.
Home Energy Loan Program is a statewide program that offers low interest loans to homeowners that want to make energy improvements to their properties.
I really like the Minnesota Fix-up Fund. The interest rate is better than other sources for remodeling loans and the fact that it is government backed makes it pretty easy to get if you meet the requirements listed. It would be the perfect solution for homeowners needing a new kitchen, bath, addition, or basement finish. Thanks for the info Kurt.
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