Homebuyer Grants and Credits

We have outlined 3 different credits or grants that are available to homebuyers:

GMHF (Greater MN Housing Finance) Downpayment Assistance

$2,500 at a glance:

  • Available as downpayment assistance to families purchasing new or existing homes in Greater MN (rural or city).
  • GMHF will match local downpayment assistance funds, up to $2,500 per homebuyer.
  • Downpayment assistance funds are provided through an approved local sponsor, in this case, the City of Perham.
  • The acquisition cost limit of the home may not exceed current GMHF limits ($131,000 in 2003).
  • Current limits can be found at www.gmhf.com (GMHF Policies and Forms)
  • To apply, contact HRA representative at City of Perham  (218) 346-4582

KLN Enterprises & HRA’s Employer Assistance Fund

KLN has generously contributed to Perham’s HRA.  KNL is providing $5,000 per package with the HRA providing an additional $2,000 for a total of $7,000

  • How to qualify for KLN/HRA funds:
    • Income Limits of $41,450-$68,650 based on family size
    • Must be employed by KLN for at least one year.
    • To apply, contact HRA representative at City of Perham  (218) 346-4582

How Does It Work?

HRA/KLN Loan……..$7,000

GMHF Grant………….$2,500

KLN Employee ………$5,000 (1st-time homebuyer)

TIF …………………………$10,000 (approximately, if applies)

TOTAL…………………….$24,500

Arvig Enterprises & HRA’s Employer Assistance Fund

Arvig Enterprises has generously contributed to Perham’s HRA.Arvig is providing $1,000 per package with the HRA providing an additional $2,000 for a total of $3,000

  • How to qualify for Arvig/HRA funds:
    • Income Limits of $41,450-$68,650 based on family size
    • Must be employed by business within the City of Perham for at least one year.
    • To apply, contact HRA representative at City of Perham  (218) 346-4582

How Does It Work?

HRA Loan…………….$3,000

GMHF Grant………..$2,500

TIF ……………………….$10,000 (approximately, if applies)

TOTAL………………….$15,500