A new partnership between state agency Minnesota Housing and the Federal Housing Administration (FHA) will expand the availability of low down payment home mortgage loans statewide through the joint efforts of lenders, Realtors, housing counselors and the two government agencies, according to the FHA and Minnesota Housing.
FHA Commissioner Brian Montgomery recently joined housing industry leaders and Minnesota Housing Commissioner Tim Marx for a National Home Ownership Month celebration to unveil the first-of-its-kind partnership.
‘We are working with our partners to address the credit crunch that has reduced the ability of low- and moderate-income homebuyers to purchase homes,’ says Marx. ‘Minnesota Housing and FHA have joined forces to increase the ability of homebuyers to access safe, federally insured FHA mortgage loans throughout the state.’
Source: Minnesota Housing