Calling all “Credit Challenged” Minneapolis Home Buyers

Calling all “Credit Challenged” Minneapolis Home Buyers

Project: Reclaim

Project: Reclaim is a homeownership tool to equip and support households to successfully own quality revitalized homes. If you are considering a purchase but think you can’t becuase of credit issues, check this out….

The goal of Project: Reclaim is to facilitate successful homeownership that helps create a healthy and vibrant community. It is designated for households that have been declined a regular mortgage due to credit challenges. This program creates an opportunity for people to affordably own a home and participate in a credit enhancement program and debt reduction. Project: Reclaim minimizes the homebuyers exposure to financial risks and real estate speculation.

Highlights of Project: Reclaim
• 3% interest rate
• Monthly payment will be approximately equal to a 6.5% conventional mortgage
• Home values range between $100,000 and $150,000
• 2% Reserve account established for the homeowner to use for approved purposes
• Rehabilitated home with great attention to detail and stringent construction standards
• Buyer support through mandatory credit enhancement program
• Contract for Deed with an initial term up to 24 months

Determine your eligibility for Project: Reclaim
• You plan to purchase a home in Minneapolis
• Household income greater than $36,000 annually
• Household income is less than the following amounts based on

• 1 Person $43,050
• 2 People $49,200
• 3 People $55,350
• 4 People $61,500
• 5 People $66,400
• 6 People $71,350
• 7 People $76,250
• 8 People $81,200

• You do not qualify for a conventional mortgage
• You need a credit enhancement program to minimize debt and increase credit score within the terms of the contract period

If you’re interested in learning more about the possibility of purchasing a home under this program, give us a call at 763-494-5545 or email info@smartmovemn.com.

Source: Urban Homeworks

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