The Enhanced Financial Capacity Homeownership Initiative (Homeownership Capacity) is a pilot program which provides financial support to eligible non-profit organizations and governmental organizations that provide intensive financial empowerment and homeownership training to emerging markets (i.e. households of color or Hispanic ethnicity) and low-income renters who have the goal of homeownership. The Request for Proposal (RFP) for the Homeownership Capacity Initiative is now closed.
For more information, please contact Ruth Hutchins
Targeted Mortgage is a pilot program designed to provide first mortgage financing to prospective homebuyers who are otherwise capable of maintaining successful homeownership, but are unable to access a mortgage due to tighter loan product guidelines and investor credit overlays. This initiative targets low-income renters and emerging market households (i.e. households of color or Hispanic ethnicity) who have the ability and willingness to pay a mortgage. The RFP for the Targeted Mortgage Initiative is now closed.
The Emergency Homeowners’ Loan Program (EHLP) is a federally funded counseling and mortgage payment relief program providing up to 24 months of payment assistance to homeowners facing foreclosure as a result of a substantial reduction in income due to unemployment, under employment, or as a result of a medical emergency. The deadline to submit an application has passed.
The Minnesota Urban and Rural Homesteading Program (MURL) is designed to arrest or prevent the spread of blight through the preservation of existing, dilapidated single family housing by providing a financing mechanism to acquire and rehabilitate such housing. Homes are sold to at-risk borrowers, who agree to follow a “good neighbor” policy, via an interest-free contract for deed. The following manuals and forms are for the use in portfolio management of current administrators. New MURL funding is currently unavailable.
For more information, please contact Margaret Kaplan at 651.296.3617.