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Woodbury First-Time Home Ownership Program

Geographic Service Area: 
City of Woodbury
Program Details: 
Deferred loans of up to $25,000 at 3% interest are available
Down Payment of 5% required

The objective of the Woodbury First-time Home Ownership Program is to encourage home ownership in the City of Woodbury by providing financing to low- and moderate-income first-time purchasers. Low-interest, deferred loans of up to $25,000 are available to qualified families who earn no more than 80 percent of area median income, currently $64,400 for a family of four. First-time home buyers are defined as a person or household that has never owned a home or has not owned a home in the last three years. The purchase price of the affected homes may not exceed $256,500. Single-family detached houses, townhomes or condo units are eligible for this program.

For more information about the city's housing and redevelopment programs and policies, contact:

 

Karl Batalden
Housing Specialist/Associate Planner
(651) 414-3438
kbatalden@ci.woodbury.mn.us