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Get Matched Free →Blaine Welcome Home Loan
Funding status: Active
How much assistance
Below-market interest rate first mortgage; can be combined with the Blaine City Down Payment Assistance Loan and First-Generation DPA
Standard 30-year repayable first mortgage at a below-market rate; remains in place until refinance or payoff.
Eligibility
- Income limits: At or below 80% area median income (AMI)
- First-time buyer required: Yes — A buyer who has not owned a home in the previous three years.
- Credit score minimum: 620
- Geographic restrictions: Property must be located in the City of Blaine and used as the buyer's primary residence.
- Homebuyer education required: Yes
How to Apply for Blaine Welcome Home Loan
Step 1: Confirm income at or below 80% AMI, first-time-buyer status, and a credit score of at least 620.
Step 2: Complete a HUD-approved homebuyer education course.
Step 3: Contact Refined Lending (the partner lender for the Blaine EDA Welcome Home Loan) for pre-approval.
Step 4: Layer with the Blaine City Down Payment Assistance Loan and/or the MMCDC First-Generation Down Payment Assistance to maximize total assistance.
Step 5: Find a home in Blaine, submit a complete application, and close.
Notes
Note: This is the City of Blaine's Welcome Home Loan (a below-market first mortgage), separate from the NeighborWorks Home Partners statewide Welcome Home Down Payment Assistance program. Both programs are listed for Blaine and can sometimes be used together. Verify current rate, lender contact, and stacking rules with the Blaine EDA.