UCAP has a couple home ownership programs that are available in some communities.
Take a look below and reach out if you have any questions.
Marshall Parkway II Home Ownership Program
This program provides quality affordable housing for income eligible homebuyers.
The homes include:
- Slab on Grade
- 2 Bedrooms and 1 Baths
- 1 1/2 Stall Attached Garage
- Sale Price: $240,800
- Slab on Grade
- 3 Bedrooms and 1 3/4 Baths
- 2 Stall Attached Garage
- Sale Price: $265,000
- Split Entry
- 4 Bedrooms and 2 Baths
- 2 Stall Attached Garage
- Sale Price: $292,500
Eligibility:
Qualifying applicants must meet income guidelines based on 115% Area Median Income – $119,600 is the maximum annual gross household income. Applicants must also complete the Homebuyer Education course, Home Stretch or Framework
Financing:
Applicants are required to secure their own financing. As part of the application, potential homebuyers must provide a current loan approval letter from their lender. Please note that UCAP does not have funding to pay for buyer’s closing costs. UCAP has funding available for down payment assistance loans for eligible buyers.
MURL Home Ownership Program
This program provides home ownership opportunities for first time home buyers in certain cities. With funding provided by the Minnesota Housing Finance Agency, United Community Action Partnership (UCAP) purchased and rehabilitated these homes to be sold to qualifying buyers. The selected homebuyer will purchase the home on a Contract for Deed for a term not to exceed 30 years and with a 0% interest rate. The buyer will make monthly payments equal to 25% of their annual household gross income and will receive the legal title to the property when the debt is paid off.
Learn more about UCAP’s Home Ownership Programs today!
Interested in learning more about UCAP’s Home Ownership programs? Reach out to our main office!
You can also pick up the PDF applications for the programs above.
