Remember to use more than one tool to assist you in the home buying process.
Make your dream of homeownership a reality with help from Minnesota Housing and the Bluff Country HRA! Whether you’re a first-time buyer, repeat buyer, or want to refinance, an affordable Minnesota Housing program is available.
Local City of Lanesboro Housing Incentives
The Lanesboro Economic Development Authority (EDA) is developing a City Housing Incentive to promote new construction. The incentive may include energy savings, waived or reduced permit fees, utility hookups, free golf club memberships, and more.
Local HRA
There are several housing programs that the SEMCAC Community Development department administers and operates. There are programs for the redevelopment of homes/areas and financing.
Click on any of the programs below for more information.
Low, fixed interest rates for the life of the loan
Purchase and refinance options for first-time and repeat homebuyers
Down-payment and closing cost loans up to $17,000 for qualified borrowers
Exclusive 3% down conventional products with low-cost or no mortgage insurance
Works with industry-standard products, including FHA, VA, Conventional and Rural Development
Do you qualify?
Requirements vary based on the program, and all borrowers must meet minimum credit score requirements. Visit theMinnesota Housing website for current information, including:
Income limits
Home cost limits
Homebuyer education requirements
Get Started: Visitwww.mnhousing.gov to find approved lenders and more information.
Minnesota Housing Programs – Minnesota Housing is a trusted state agency that works withlocal lenders to ensure all Minnesotans have access to safe and affordable housing. In 2018, we helped more than 4,600 families across the state purchase and refinance homes.
You don’t need to be a first-time homebuyer to take advantage of our affordable loans. TheStep Up program has a purchase loan if you’re a current homeowner (or owned within the last three years) and want to buy a different home.
CEDA, Bluff Country HRA, and SEMCAC can partner with local governments to administer Small Cities Development Program projects in Fillmore and Houston counties.
This program offers no interest, and deferred loans for eligible homeowners to make necessary home repairs. A homeowner could use the loan funds for general improvements including the foundation, siding, gutters, electrical system, plumbing, or heating system. Lead assessment and abatement are also a special focus, especially for households with young children.
Other state and local funds are leveraged to help with additional Customized City financing tools to bring down the upfront cost for local housing development, contact the City of Lanesboro EDAfor more details.
Hassle-free home improvement loans from the Minnesota Housing Fix Up Loan Program
*Choose Energy Star windows, furnace, air conditioner, and/or water heater; insulation and air sealing; and/or basic accessibility improvements and you may be eligible for a lower interest rate.
These programs assist homeowners, and rental property owners improve their homes or property. Projects include Small Cities Development and Loan Programs for Homeowners, such as Rehab Loans.
Obtain contractor bids or detailed materials estimate from a building supplier for work you will perform
Your lender will work with you to complete the loan application, loan closing and funding
*This project was made possible by a grant from the U.S. Department of Energy and the Minnesota Department of Commerce through the American Recovery and Reinvestment Act of 2009 (ARRA).
USDA Housing Programs - Repair loans and grants
Single-Family Housing Repair Loans and Grants provide funds to elderly and very-low-income homeowners to remove health and safety hazards, perform necessary repairs, improve or modernize a home, make homes accessible for people with disabilities, or make homes more energy efficient so these very-low-income families use less of their income on utility bills.
Lanesboro offers two Low to moderate-income housing apartment buildings:
Sylvan Manor Apartments 503 Parkway Ave S · (507) 467-2222
Kenilworth Apartments 607 Kenilworth Ave S · (507) 467-2222
Senior Living Resources
Traditions of Preston – Assisted living facility 515 Washington St NW 507-765-3837 www.traditionsliving.com
Park Lane Estates Assisted Living – Assisted living facility 410 Park Ln St 507-765-9986 Goldenhorizons.org
State Veterans Home – Preston Follow the Minnesota Department of Veterans Affair atmn.gov/mdva. This skilled nursing facility is set to open in mid-2023. Follow the progress by videohere
Good Samaritan Society – Home Care (Southeast Minnesota) – Home health care service 200 St Paul St SW 507-765-2700 www.good-sam.com
SEMCAC Contact Center – Social services organization 515 Washington St NW 507-765-2761 www.semcac.org
(Preston is the County Seat/ Preston is located 11 miles west of Lanesboro