News - Down payment assistance for new homeowners in Camden - Down payment assistance for new homeowners in Camden

Thanks to the generosity of the Pohlad Family Giving Foundation, more future homeowners are being encouraged to consider North Minneapolis and Camden (affectionately becoming known as "NoMi" through a grassroots marketing campaign) for their next home.

The Pohlad Family Foundation originally dedicated $1 million towards creating a down payment assistance program for home buyers in zip code 55411 in early 2009.　The assistance is in the form of a zero percent interest, deferred loan of $8,000 per owner occupant home buyer, completely forgiven in seven years as long as the home remains continuously owner occupied.　In October 2009, the program was expanded to include homes in the 55412 zip code.　

There are no income restrictions, and you do not need to be a first time home buyer. Buyers must intend to owner-occupy a single-family home, townhome, duplex or condominium. Buyers will need to have an accepted purchase agreement to apply for the funds, and complete a Home Stretch class on homeownership through the Minnesota Home Ownership Center (www.hocmn.org).　Buyers should check with their lenders to coordinate the down payment assistance with their primary mortgage.　

The program is being administered by Neighborhood Housing Services of Minneapolis (NHS).　For program info, including the availability of funds or to receive an application, contact NHS at phone 612-521-3581. Find more info at http//www.livemsp.org/pohlad-foundation-homebuyer-assistance-program-for-homes-in-zip-code-55411.