This attractive house features two finished bedrooms and a full bath on the main level, with a ready-to-finish basement for two more bedrooms and another full bath. Total potential living space is more than 1,800 square feet, plus a garage can be added at buyer’s request.
This is the third home in a four-unit development in an established neighborhood, so there are no special assessments for new water, sewer or roadway infrastructure.
It also comes with an affordable financing package, which includes a fixed-rate MMCDC first mortgage and ultimately reduces the cost of the home in three ways, listed below.
- No down-payment requirement means there is less cash required at closing;
- Interest-only second mortgage is forgivable after seven years if all conditions are maintained, which further reduces costs; and
- Deferred MMCDC third mortgage has no repayment requirement until the sale of the home or repayment of the first mortgage, which lowers the monthly payments.
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Contact Natalie Bly at 218-844-7017 for more information or a showing. Or, go to our home mortgage lending page for information on homebuyer education and home loans.
Home constructed and sold by Northwest Minnesota Housing Cooperative and made possible through the support and efforts of several entities. They include: Minnesota Housing Finance Agency, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund, Greater Minnesota Housing Fund, Minnesota Housing Partnership and City of Frazee.
Offer subject to all program and financing requirements. MMCDC is an equal opportunity employer, provider and lender.