In the spring and summer of 2018, two more attractive starter homes will be constructed in the City of Frazee. A companion financing package is intended to eliminate the need for a down payment and keep house payments similar to rental payments.
The homes, located on Ash Avenue, are four-bedroom, two-bath homes when complete, but the base price will feature a finished main level alone. Homebuyers may choose to finish the lower level or garage depending upon their budget.
Designed to appeal to the local workforce, this affordable homeownership opportunity is made possible by a partnership between MMCDC and Northwest Minnesota Housing Cooperative, under programs offered by Minnesota Housing Finance Agency, USDA Rural Development and US Treasury. Income limits apply and buyer must qualify for financing. A homebuyer education certificate is required.
Homes in the new subdivision will be built by members of the local workforce with general contracting services through the Northwest Minnesota Housing Cooperative (NMHC), creating a simple path to home ownership.
For information, contact Natalie Bly.