Sometime coming up with a downpayment to buy your first home can be challenging. With low downpayment assistance programs for buyers this allows good qualified buyers who have a good credit history and scores 620+ with three trade lines of credit the opportunity to get into a home and take advantage of low interest rates, If you are looking in Scott County there are also opportunities in which you can get up to $4,000 to use for your downpayment! Income restrictions do apply, but that is quite the opportunity!
Low Downpayment Assistance Programs MN
There are not many programs for buyers, but two great programs are the 2% down, Minnesota low downpayment assistance program CDMP and the USDA rural housing program. The rural housing program could not qualify for a city like Shakopee, MN, but it would be available in Belle Plaine.
CDMP 2% Downpayment
The only other low down payment assistance programs in MN for buyers i know of are the USDA rural housing programs as previously discussed, a 0% down DVA loan and the CDMP 2% downpayment program. To learn more about the program I work with a great Wells Fargo loan officer who can email you all the specifics or you can call local Realtor Tom Scott of Rea/Max Advantage Plus in Shakopee at 612-384-2178