New loan program for Bank properties-Silver Lining Program

Dakota County Community Development Agency (CDA) has developed a new program aimed at stabilizing neighborhoods that have experienced higheer than normal levels of mortgage foreclosures- the program is called Silver Lining Loan Program.

this program is available to qualified buyers who purchase eligible bank owned vacant foreclosed properties.

Loans can be used for:

• up to 50% of the required down payment
• payment of normal and usual closing costs
• buy down of first mortgage principal

Max. purchase price- $256,080

Loan limit: $15,000

Contact me for more information on this program or other similar programs available.