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0 <br />0 <br />MAKE YOUR DREAM OF HOMEOWNERSHIP A REALITY <br />WITH DOWN PAYMENT AND CLOSING COST ASSISTANCE. <br />WOODBURY FIRST-Tir. E HOMEOWNERSHIP <br />First-time home buyers can qualify for a loan up to $25,000 to use for down payment and closing <br />costs on a single-family home, condominium or town home with a maximum purchase price of <br />$256,500. <br />Home buyer's gross annual household income cannot exceed 80% of the Area Median Income <br />(AMI), adjusted by household size, as annually determined by the U.S. Department of Housing and <br />Urban Development (HUD). In 2010, a family of four can earn up to $64,400. The interest rate is <br />set at an annual fixed rate of 3%. The principal and interest on the loan will be deferred until the <br />maturation of the first mortgage, the sale of the home, the transfer of title or the property is no <br />longer owner -occupied. <br />The first mortgage must be a prime/A-rated fixed rate mortgage loan, and the home must be owner - <br />occupied. Investment properties do not qualify. <br />%OODBURYFORECLOSUREPURCHASE PROGRAM <br />Home buyers purchasing a property that has been foreclosed or is in the foreclosure process can <br />qualify for a loan up to $25,000 for down payment and closing costs on a single-family home, <br />condominium or town home with a maximum purchase price of $256,500. <br />Home buyer's gross annual household income cannot exceed 115% of the Area Median Income <br />(AMI), adjusted by family size, as annually determined by the U. S. Department of Housing and <br />Urban Development, but not greater than $90,000. <br />The interest rate is set at an annual fixed rate of 3%. The principal and interest on the loan will be <br />deferred until the maturation of the first mortgage, the sale of the home, the transfer of title or the <br />property is no longer owner -occupied. <br />The first mortgage must be a prime/A-rated fixed rate mortgage loan, and the home must be owner - <br />occupied. Investment properties do not qualify. <br />WHO DO I CONTACT TO LEARN MORE? <br />To learn more about these programs and other home improvement loan programs available in your <br />i 1 community, call or visit: <br />Greater Metropolitan Housing Corporation <br />Greater Metropolitan Housing Corporation <br />HousingResource CenterTm —St. Paul <br />0 �I 627 Selby Avenue <br />St. Paul, MN 55104 <br />CrrTOF <br />WOO • ury Phone: 651.228.1077 <br />www.gmhchousing.org <br />Office Hours <br />Monday — Thursday <br />9:00 a.m. to 5:00 p.m. <br />Closed on Friday <br />Open the fourth Saturday <br />of each month <br />9:00 a.m. to 1:00 p.m. I <br />PORTUURIT'/ <br />