Richfield Housing Programs

Buying a Home

Building a Home

Remodeling a Home

Foreclosure Prevention

Buying a Home

Buy a foreclosed property

• Neighborhood Stabilization Program
• BUY 7401 18th Avenue--fully rehabilitated for sale to an income-qualified buyer. 
• If your household income is less than $99,250 for a family of four, contact Paul Sigurdson at Counselor Realty (612/723-2502) for further information.
• If your household income is less than $41,350 for a family of four, contact Homes Within Reach for further information.

• Foreclosure Purchase Incentive Program--
  Program Guidelines
  • Funds available to help purchase a vacant and foreclosed home.
  • Provides either $10,000 in purchase assistance funds or $15,000 in rehabilitation assistance.
  • Must be approved for funds before purchasing the home.
  • Deferred loan with no payments, no interest.  Loan forgiven if homeowner resides in the home for five years.
    
    • Purchase Incentive Application
    • Purchase Assistance Agreement
      Rehabilitation Assistance Application
    • Rehabilitation Assistance Agreement

Buy a Home

The following organizations assist individuals and families in buying an affordable home in Richfield:

Homes Within Reach

Twin Cities Habitat for Humanity 

Down Payment Assistance

• Foreclosure Partnership Program (FPP): Hennepin County is offering purchase incentive funds up to $10,000 to households earning up to 80 percent of the Area Median Income ($64,400 for a family of four).  Households may also qualify for additional "affordability" assistance up to $20,000.  Properties must be non-foreclosed, priced at or below $200,000, and located in the NSP Target Areas (map of Richfield Target Area).  More information on the program is available on the Hennepin County web site.  For questions, call 612-543-0046 or e-mail hbamail@co.hennepin.mn.us.

Home Buyer Education is an essential part of successful homeownership.  Minnesota offers a rich networks of Home Stretch Workshops (homebuyer education classes).

• Community Action for Suburban Hennepin (CAPSH) offers Home Stretch workshops in Suburban Hennepin County.
  
• The Home Ownership Center offers listings of Home Stretch Workshops if the classes at CAPSH do not fit your schedule. 

Building a Home

• Lots for Sale - Purchase a vacant lot from the HRA and build a new, owner-occupied home.

Program Guidelines

The new home must meet program design guidelines

Pre-application meeting with staff required

Applications to be submitted in person to HRA staff

Brochure

Application Package

2011 Lot List

• Redevelopment Credit - remove a substandard house, build a new home on the lot, and receive a redevelopment credit.

Program Guidelines

Substandard house must be qualified under the program. 

The new home must meet program design guidelines.

Application fee, application and HRA approval required.

Application Package

 Remodeling a Home

Funding Resources

• Transformation Home Loans:
  • Locally-funded loan program for renovations valued at $50,000 or more are eligible.  Zero percent interest, 30-year deferred loan.  Loan covers 15% of total project costs, up to $25,000.  
    • Application 
    • Program Information
• Rehabilitation Deferred Loan:
• Funds currently UNAVAILABLE (August 2011)
• Federally-funded loan program for basic home improvements.  Zero percent interest, no monthly payments, and a maximum loan amount of $30,000 per income-eligible household.  A 3% interest loan is available for households earning less than $64,400 for a family of four.  Contact Hennepin County at 612-348-2235 for more information.
  
• Community Fix-Up Fund Loan:
• Home improvement loan with an interest rate of 3%
• Minimum Loan: $2,000; Maximum Loan: $35,000
• Household income limit: $95,150
• Contact the Housing Resource Center at 612-722-7141 for more information
•  Housing Resource Center (612-722-7141): Free housing services to Richfield residents including:
• • Construction consultation
  • Resource referrals
  • Home improvement loans
  • Home buyer assistance
  • Accessibility modification consultations
  • Consultations on health and safety issues
    
• Center for Energy and Environment (612-335-5885): Loan programs for home improvements.  Information about Sound Insulation Programs.  Information about Energy Improvement rebates.

Richfield Remodeling Advisor is available to meet with you discuss ideas, and provide information and general cost estimates. This service is free! Call 612-861-9772 to schedule a home visit.

Architectural Home Consulation Program - How can you make substantial changes to your home with an eye towards design, form and functionality? Meet with an architect for a two-hour consultation. $25 co-pay.

Remodeling Plan book for Cape Cods & Ramblers is available for purchase $10 (resident), $15 (non-resident).  Call 612-861-9760. 

NEW!!!  Green Remodeling Plan Book developed by the Roseville HRA and Family Housing Fund.  This comprehensive home improvements guide helps you consider energy savings and sustainability.

Remodeling Tip Sheets - under construction

Homeowner Resources - Several community organizations offer additional programs to assist Richfield homeowners in making repairs, doing household chores, and paying home heating bills.

 Foreclosure Prevention

Foreclosure Prevention - Free foreclosure prevention counseling is available to help homeowners at risk of losing their homes.