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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.
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