A new road to home ownership

Did you know thousands of Bloomington renters could be spending more on rent than they would on a mortgage? To raise awareness of local resources and help renters become homeowners, the Bloomington Housing and Redevelopment Authority is partnering with Minnesota Housing, a state agency that provides support and works with local lenders. Minnesota Housing offers affordable homebuyer programs with down payment and closing cost loans up to $12,000, fixed interest rates and low or no mortgage insurance options. To find a participating lender near you or to learn about eligibility requirements, visit the website rebrand.ly/Bloomington. As an added incentive, the HRA is offering coupons for free homebuyer education—a $75 value—for the first 40 people who contact them at the website listed above.