The City of Woodbury, in partnership with the Greater Metropolitan Housing Corporation (GMHC), has made down payment and closing cost assistance loans available to encourage homeownership in the City of Woodbury. Current available dollars for loans are based upon the fund balance for any given period.

The maximum loan amount is $25,000.00 and interest rate will be fixed at 3% simple annual interest with monthly installment payments of interest only. Payment of principle will be deferred until sale, transfer of title, when the primary mortgage is paid off, or when the property ceases to be owneroccupied. Loan term shall not exceed 30 years.

$25,000.00 at 3% = $62 per month, interest only.

Please call Cory Kingbay at 612-978-1724 for more information about the Woodbury down payment assistance program. This is a great program Woodbury has implimented to help Woodbury first time home buyers purchase a home. This is a HUGE savings!

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