The Red Wing Housing & Redevelopment Authority (HRA) administers the Affordable Housing Trust Fund (AHTF) Homebuyers Assistance Program and has funding available for five more loans before the end of this year ($45,000).
Fast facts for AHTF Homebuyers Assistance Loans
- Maximum $9,000 loan
- For workforce families
- 0% deferred pay-off for up to 30 years; recipient must live in the home
- 625 credit score or better
- Homebuyer Education Certificate required
- $1,000 equity required by the homebuyer
- Properties to be located in the City of Red Wing
- Properties must be livable and appraise high enough for all loans
- $100 application fee due at closing
The Guidelines and Application are available on the HRA website.