MURL


	Minnesota Urban & Rural Homesteading Program (MURL)
	The Minnesota Urban & Rural Homesteading Program (MURL) has been operated since 1999 through the Northwest Minnesota CHDO. Since then the CHDO housing program has developed into a revolving fund program. The program funds are used to purchase vacant homes that are in repairable condition and to do the necessary improvements. Goal To provide homeownership to first time homebuyers that are “at risk” Assist in stabilizing declining neighborhoods
	Stipulations Acquisition is from the HRA on a Contract For Deed 0% down payment 0% interest, maximum of 30 years. Payment includes only principal plus escrowed Taxes and Home Owners Insurance. Payment is 25% of buyers monthly adjusted gross income. First Time "At Risk" Homebuyer A first time “at risk” homebuyer is an individual and/or his or her spouse who have not owned a home during the three year period before the purchase of a home under the program except that is one or more of the following: Homeless On public assistance Unable to afford homeownership without this program At risk homebuyer lacks the ability to meet mortgage industry underwriting standards for traditional mortgage financing. If you have any questions, please contact Ken at 218-637-2435 or ken@nwmnhra.org.

Northwest Minnesota Multi-County