Homeownership may be more attainable than you might think with a little preparation and some help from the state of Minnesota helping the process along.
- Participating lenders offer down payment and affordable mortgage programs through the Minnesota Housing Finance Agency (MHFA). (Note: Allowable income limits for some programs are increasing June 1, 2022. Visit the Minnesota Housing website for more details.)
- Homebuyer education to walk you through the process is available through Lakes & Prairies Community Action Agency
And for new construction:
- The City of Moorhead offers the First & New Loan Program, an incentive for first time homebuyers buying or building a new home; $5,000 no interest, no payment loan until sold or vacant to be used for special assessments.
- The Make Moorhead Home Property Tax Rebate provides a 2-year property tax rebate incentive for homebuyers buying or building a new home, a value of $7,000 on a $300,000 home.
- The Welcome Home pass, an all-access recreation pass for buyers of newly constructed homes (first occupant)— includes a season golf pass, swimming, and more.
Homeownership is a good investment. Property values are stable and interest rates are low. Whether building new or buying an existing home, it is a great time to buy a home.
Here is what some recent homebuyers are saying about buying a home in Moorhead:
- Moorhead has the small town feeling with big town amenities.
- Quiet streets, friendly people, organized and caring city.
- It’s a great place to live, grow up, and raise a family.
For more information, visit makemoorheadhome.com.
