Local governments, employers and nonprofits are working together to offer Homeownership for Me Down-payment Loans* in Becker County, Minnesota. This second-mortgage loan is available to qualified buyers for purchase of a home. There are no monthly payments and no interest on the loan, but it must be repaid when the home is sold or at the end of the first mortgage.

Who Is Eligible

  • Buyers must qualify for and receive a first mortgage through MMCDC or another source.
  • Homes must be located in Becker County, including the cities of Detroit Lakes, Frazee, Lake Park, Audubon, Wolf Lake, Callaway and Ogema.
  • Buyer must be employed in Becker County
  • Loan is available to buyers who meet income guidelines by household income and family size (updated annually), listed below:
Houshold size 80% AMI Loan Amount 115% SMI Loan Amount
1 Person $40,550 Up to $8,000 $88,600 Up to $5,500
2 Person $46,350 Up to $8,000 $88,600 Up to $5,500
3 Person $52,150 Up to $8,000 $101,980 Up to $5,500
4 Person $57,900 Up to $8,000 $101,980 Up to $5,500
5 Person $62,550 Up to $8,000 $101,980 Up to $5,500
6 Person $67,200 Up to $8,000 $101,980 Up to $5,500
7 Person $71,800 Up to $8,000 $101,980 Up to $5,500
8 Person $76,450 Up to $8,000 $101,980 Up to $5,500

Document Checklist

  • Purchase Agreement for a Home
  • Pre-Approval Letter for a Mortgage
  • Income Verification Documents, such as those used when applying for first-mortgage loan or during housing counseling session
  • Homebuyer Education Certificate dated before closing

HOMe is a program developed by participants in the 2018 Minnesota Housing Partnership Housing Institute in Detroit Lakes, including 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. Current funding providers include Becker County EDA, Detroit Lakes Development Authority, City of Frazee, Essentia Health, BTD and Arvig. The program is operated by MMCDC.

*Limited Time Offer. Loans Available Until Funds Are Depleted. Income Guidelines Updated Annually.