NW MN Multi-County HRA
205 Garfield Avenue
PO Box 128
Mentor, MN 56736
(218) 637-2431 | Phone
(218) 637-2433 | Fax

Contact US

The HRA is a public non profit entity.  All funds donated will be used in creating housing and community development opportunities and is 100% tax deductible!

Homeownership Opportunities

There are three ways the HRA can help you reach your goals of homeownership: The First Time Home Buyers Program, Community Revitalization Fund, and MURL.


First Time Homebuyers (FTH) Program

 FTH participants must meet income and program guidelines. The HRA works with the counties of Kittson, Marshall, Norman, Pennington, Polk, Red Lake and Roseau.  Funding for the FTH program is made available annually by the Minnesota Housing Finance Agency.  Please view this listing of local lending agencies.

 

You want to contact one of the following lenders for further information or possible funding as a FTH.

  • Wells Fargo Bank, Thief River Falls, MN  -  218-681-1930
  • Northern State Bank, Thief River Falls, MN  -  218-681-4020
  • Unity Bank North, Red Lake Falls, MN  -  218-253-2143
  • MMCDC, Detroit Lakes, MN  -  218-847-3191
  • Bremer Bank, Crookston, MN  -  218-281-4182
  • Citizens State Bank, Roseau, MN  -  218-463-2135
  • American Federal Bank, Crookston, MN - 218-281-3305

You may also contact your local bank to see if they have information available.    If you have additional questions contact Lee  at 218-637-2431.

 

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Community Revitalization Fund (Down Payment Assistance)

Low interest loans may be available through the CRF program in the counties of Kittson, Lake of the Woods, Marshall, Norman, Pennington, Polk, Red Lake and Roseau.  This program is for persons interested in building new or buying existing homes.  The intent is to assist local employers with another tool to attract and retain workers.  Training can be a costly item and if we can help put someone in a home, they are more likely to stay in that community and with their current employer.


Private and public investors pledge funds that are matched by the Minnesota Housing Finance Agency. Deferred loans and low interest loans are available to assist qualified applicants with gap financing (down payment assistance). Often the only thing that is holding a prospective homeowner back from buying a home is the lack of a down payment. This program has assisted over 950 families in purchasing a home in our area over the past 15+ years.

 

NW MN Multi-County HRA administers the 8 county loan pool that is used as a revolving loan pool for future low interest loans. The loan pool is created from the low interest loan repayments by homeowners who have taken advantage of the CRF program.


Since 1997 over 5.5 million dollars in grant and investor funds have been received assisting families with their housing finance needs. Eighty-two million dollars have been leveraged from the deferred loans and investor dollars. The program has been a tremendous asset to the economic development of our northwest region.

For additional information on CRF you may call 218-637-2435 or e-mail barbara@nwmnhra.org .

 

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Community Housing Development Organization (CHDO)

Minnesota Urban and Rural Homesteading Program (MURl)

The HRA currently has 11 homes that have been sold under a Contract for Deed with no down payment and 25% of buyers monthly adjusted gross income. If homes revert back to the HRA they are advertised to attract eligible buyers.


Goal

  1. To provide homeownership to first time homebuyers that are “at risk”

  2. Assist in stabilizing declining neighborhoods

 

Stipulations

  • Acquisition is from the HRA on a Contract For Deed 0% down payment 0% interest, maximum of 30 years.

  • Payment includes only principal plus escrowed Taxes and Home Owners Insurance.

  • Payment is 25% of buyers monthly adjusted gross income.

 

First Time "At Risk" Homebuyer

A first time “at risk” homebuyer is an individual and/or his or her spouse who have not owned a home during the three year period before the purchase of a home under the program except that if one or more of the following apply:

 

  • Homeless

  • On public assistance

  • Unable to afford homeownership without this program

  • At risk homebuyer lacks the ability to meet mortgage industry underwriting standards for traditional mortgage financing.


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