Thursday, April 09, 2009
St.Paul: City Offers 'Heroes' Tax Credit For First Home Buyers
Later this month, St. Paul and Minneapolis city officials will unveil a program that provides $8 million worth of federal tax credits to qualified first-time homebuyers who purchase homes in either city. St. Paul's Housing and Redevelopment Authority voted to sweeten the deal for vets, firefighters, emergency med techs, members of the US armed forces, health care workers and certain public sector employees. Those borrowers could receive loans of up to $15,000 for down-payment assistance, closing costs or reducing the principal amount owed on a mortgage.
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