The Home Ownership for Me Down-payment Loan program is available in Becker County.
This second-mortgage loan is available to qualified buyers for purchase of a home as their primary residence. There are no monthly payments and no interest on the loan, but it must be repaid when the home is sold or at the maturity of the first mortgage.
A loan is available to households who are employed and reside in Becker County and who meet income guidelines. Guidelines for family sizes of 1-4 are below – larger families also are eligible.
Household size
80% AMI
Loan Amount
115% SMI
Loan Amount
1 Person
$46,700
Up to $5,000
$104,000
Up to $3,000
2 Person
$53,350
Up to $5,000
$104,000
Up to $3,000
3 Person
$60,000
Up to $5,000
$119,600
Up to $3,000
4 Person
$66,650
Up to $5,000
$119,600
Up to $3,000
The program is being operated by Midwest Minnesota Community Development Corporation (MMCDC). In order to receive a HOMe loan, buyers must qualify for and receive a first mortgage through MMCDC or another source, such as local banks. Income limits are updated annually, based upon federal income guidelines.
“To help ensure long-term success, all HOMe borrowers participate in free homebuyer education and housing counseling,” MMCDC President Julia Nelmark said.
The effort started with participation in a Housing Institute offered by Minnesota Housing Partnership (MHP), a statewide affordable housing nonprofit. Home Ownership for Me resulted from their discussions, which focused in part on housing needs of the Becker County workforce.
“The Homeownership for Me program is a perfect example of how local stakeholders can work collaboratively to address housing needs in their community,” said Barbara Dolan, MHP Deputy Director, Community Development.
Participants in the Minnesota Housing Partnership Housing Institute in Detroit Lakes included the Becker County Economic Development Authority, Essentia Health, the Detroit Lakes Regional Chamber of Commerce, Mahube-Otwa Community Action Partnership, the City of Frazee, the City of Detroit Lakes, Midwest Bank, Detroit Lakes Housing and Redevelopment Authority, and MMCDC. Funding providers have included Becker County EDA, Detroit Lakes Development Authority, City of Frazee, Essentia Health, BTD and Arvig.
For an application, click here to go to the HOMe page .
