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HOME Homeowner Entry Loan Program (HOME HELP <br />MN Housing can provide qualified homebuyers an interest free; deferred loan to assist with the <br />purchase of their home. The loan requires full repayment of the loan amount if in the first five <br />years the individual sells or does not occupy the home as their primary residence. After the first <br />five years, 30% of the initial loan amount is due on sale or upon maturity of the first mortgage. <br />http://vvww.mnhousing$ov/consumers/home-buyers/loans/MHFA 003407.aspx <br />Greater Minnesota Housing Fund (GMHF) <br />Communities could request program specific downpayment funds from GMHF. Typically <br />downpayment would be structured as a grant of up to $2,000 for GMHF eligible borrowers. <br />GMHF also offers Employer Assistance Housing (EAH) matching funds to local employer <br />contributions. More info at: www.gmhf.com <br />American Dream Downpayment Initiative ADDI) <br />ADDI helps first-time homebuyers with downpayment and closing costs, ADDI assistance is <br />capped at $ 10,000 or six percent of the purchase price of the home, whichever is greater. To <br />qualify buyers must be first-time homebuyers with incomes not exceeding 80% of area median <br />income. <br />More info at: http://www.hud.gov/offices/cpd/affordablehousing/programs/home/addi/ <br />~.! <br />t . r ~'' <br />Compiled by Greater Minnesota Housing Fund, hiovember 21, 2008. <br />