Edina, Minn. – Sept. 23, 2010 – Home buyers who need assistance with their mortgage down payment can now view homes that qualify for down payment assistance grants and loan programs. A new tool on Edina Realty’s website http://www.edinarealty.com identifies eligible properties with a DPR (Down Payment Resource) icon. Potential home buyers answer nine short questions to receive a list of the down payment assistance programs for which they may qualify. Some programs may even be available for those with household incomes as high as $100,000.
Eighty-one percent of all properties on the Edina Realty website, which includes all listings in the Regional Multiple Listing Service (RMLS®), are DPR eligible. That includes nearly 92 percent of all properties under $250,000 and 98.9 percent of the properties under $250,000 in Hennepin and Ramsey counties. Some programs are available for homes with sales prices of $500,000 or more. To view program examples and more information, visit http://www.edinarealty.com/real-estate-advice/do-you-qualify-for-down-payment-assistance/.
In some cases, down payment assistance programs may allow home buyers to purchase a home today, rather than waiting until they have saved the required down payment. Many community, city, county and state agencies offer down payment assistance programs, which have unique qualification requirements regarding income, assets, credit, occupancy and location.
For more information on down payment assistance programs, to view property listings or find a Realtor® who specializes in your community, visit http://www.edinarealty.com.
Edina Realty, a subsidiary of HomeServices of America, is one of the nation’s largest real estate companies with more than 60 real estate offices throughout Minnesota, North Dakota and western Wisconsin and nearly 2,450 REALTORS®. Edina Realty’s family of companies includes Edina Realty, Edina Realty Title, and Edina Realty Mortgage. Edina Realty handled more than 28,000 transactions and $5.8 billion in sales volume in 2009. For more information, visit www.edinarealty.com.