Saint Paul Minnesota The most livable city in America.
Site Search


Saint Paul Heroes Program Phase 2
About the Program
Heroes.gif
PLEASE NOTE: THE HEROES PROGRAM IS CURRENTLY OUT OF FUNDS. PLEASE CONTACT A PARTICIPATING LENDER TO BE PUT ON A WAITING LIST SHOULD FUNDS BECOME AVAILABLE.

The Saint Paul Heroes First-time Home Buyers Loan Program was created to honor those who dedicate their lives to serving the community. Due to the success of the program, additional funding has been added to continue to provide loans to first-time home buyers for up to $10,000 toward the purchase a home in Saint Paul in conjunction with the Take Credit!! Mortgage Certificate Program.

NEW LOAN AMOUNTS EFFECTIVE JULY 1, 2009

$5,000 toward the purchase of any home in the City of Saint Paul
$5,000 additional loan if the home is Vacant or Foreclosed at the time of execution of the purchase agreement

Contact a Participating Heroes Lenders for more information.

Heroes include:

Active Military, Active Reserve, National Guard or a Veteran – Qualified Active Duty Service personnel include the U.S. Armed Services or Reserve Forces. Qualified veterans include military members honorably discharged from any branch of the U.S. Armed Forces.

Firefighters, Emergency Medical Technicians or Paramedics – Sworn paid members of a fire department whose regular duties include fire suppression or prevention, emergency medical response, hazardous materials response.

Health Care Workers – Certified, accredited, or licensed health care workers who are employed full- time as a medical resident or fellow, dental hygienist, nurse, nursing assistant, pharmacist, pharmacy technician, physician’s assistant, medical technician, technologist, or therapist.

Police Officers – individuals commissioned as a police officer by a federal, state, regional, county, or municipal or township government, or a public or private college or university; must be sworn to uphold, and make arrests for violations of the federal, state, regional, county, or municipal, or township law or respond to terrorism.

Teachers – Individuals employed full-time by an accredited or state recognized public school, private school, or federal, state, county, or municipal educational agency as a state-certified classroom teacher or administrator in grades K-12 or higher education.

Public Employees – Individuals employed full-time by a federal, state, regional, county, or municipal, or township government and postal workers.

Program Details
Loans may be used toward: 
    • Up to 50% of the required down payment fees 
    • Covering closing costs 
    • Lowering the principal of the mortgage

Terms of the loan: 
    • Zero percent interest 
    • No monthly payments 
    • Repayable at the time you sell your home 
    • Loan will be forgiven if borrower resides in the home for longer than 10 years

Eligible Borrowers and Income Limits: 
First-time Homebuyers who qualify or a fixed rate FHA, VA, RHS, Fannie Mae or Freddie Mac insured loan product through participating lenders in conjunction with the Take Credit!! Mortgage Credit Certificate program and have


Household income at or below the following: 

                                    1 - 2 Persons             3 - more persons
Non-Targeted Areas            $83,900                        $92,290
Targeted Areas                   $92,290                        $92,290



Home | Contact | Site Map | Accessibility | Policies & Practices | Copyright Notices | Powered by CivicPlus