Community Revitalization Fund 
(Down Payment Assistance)

Deferred loans and low interest loans may be available through the CRF program in the counties of Kittson, Marshall, Norman, Pennington, Polk, Red Lake and Roseau.  This program is for persons interested in building new or buying existing homes.  The intent is to assist local employers with another tool to attract and retain workers.  Training can be a costly item and if we can help put someone in a home, they are more likely to stay in that community and with their current employer.

Private and public investors pledge funds that are matched by the Minnesota Housing Finance Agency.  Deferred loans and low interest loans up to $10,000 will be available to assist qualified applicants with gap financing (down payment assistance).  Often the only thing that is holding a prospective homeowner back from buying a home is the lack of a down payment.  This program has assisted over 600 families in purchasing a home in our area over the past 8 years. 

NW MN Multi-County HRA administers the 7 county loan pool that is used as a revolving loan pool for future low interest loans.  The loan pool is created from the low interest loan repayments by homeowners who have taken advantage of the CRF program.

Since 1997 three million dollars in grant funds and over two million dollars in investor funds has been received assisting over 600 families with their housing finance needs.  Thirty million dollars have been leveraged from the deferred loans and investor dollars.  The program has been a tremendous asset to the economic development of our northwest region.

For additional information on CRF you may call 218-637-2435 or e-mail tina@nwmnhra.org . 

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Site last updated on 06/23/2008