We’re excited to announce we’ve launched a new pilot program – the Parade of Homes First-Time Homebuyer $10K Giveaway. As the leading voice for the housing industry, we’re committed to promoting homeownership and expanding the opportunity for homeownership for everyone, everywhere in our state.
For so many Minnesotans, the prospect of owning a home is tantalizingly close and within their means, but day-to-day expenses prevent them from saving enough to secure that initial down payment. Their dream of homeownership is just out of reach and the future of homeownership is threatened.
Research shows that nearly 110,000 Minnesota families are less than $10,000 away from becoming homeowners. To promote homeownership and help these hardworking Minnesotans buy their very first home, Housing First Minnesota is launching the Parade of Homes First-Time Homebuyer $10K Giveaway.
Who is eligible to win?
- First-time homebuyers and those that have not owned a home or residential property in the last five years
- Buyers that meet the $10K Giveaway contest’s household income requirements – 115% of Area Median Income (AMI) as established by the Federal Department of Housing and Urban Development
- Buyers that are currently in the homebuying market who will be able to close on a new or existing home in a 12-month period
- Entrants into the $10K Giveaway will choose between the new home and existing home contest when they enter
With commitments already in hand from members for several down payment giveaways in 2022, we are launching the program with the Springs Parade of Homes. All giveaway entry forms will be completed online, not in homes.
Entries will open in Febraury of 2022. The first drawing will take place shortly after the Spring Parade of Homes. Stay tuned for future announcements of the recipients of our first Parade of Homes $10K Giveaways!
If you would like to contribute to this exciting new program, contact Janice Meyer at Janice@HousingFirstMN.org.
