Affordable home ownership opportunities are available for qualifying families throughout Rice County. Low interest mortgages and down payment assistance are available to low and moderate income first time homebuyers. The Department also provides home ownership opportunities for families living in over-crowded or substandard housing who are otherwise ineligible for conventional financing due to poor credit history or the lack of a down payment.
PAH Home Stretch home buyer education is offered in area communities on an ongoing basis. Check online at www.homebuyerclass.org
or call 507-345-3029 to find a class near you. Watch for future class to be offered in the Faribault area.
Home Ownership Programs
Minnesota Urban and Rural Homesteading (MURL)
The MURL (Minnesota Urban and Rural Homesteading) program provides home ownership opportunities to low income families living in over-crowded or substandard housing who are ineligible for conventional financing due to poor credit history or the lack of an ability to make a down payment. (City of Faribault only.) See the MURL Advisory Board
Minnesota Cities Participation Program (MCPP)
The MCPP program provides below market interest rate home mortgages to low and moderate income first time home buyers. Income guidelines and home purchase price limits apply.