House has appraised market value of $209,000 (excluding the land) but is being sold $35,000 below value to income eligible households. Buyer’s gross annual income cannot exceed the following (household size in parenthesis): $53,350 (1); $60,950 (2); $68,550 (3); $76,150 (4); $82,250 (5); $88,350 (6) $94,450 (7) $100,550 (8).

For this property, there is additional down payment assistance available from the Greater Minnesota Housing Fund of $15,000 that could lower the first mortgage down to $159,000 if the buyer meets additional GMHF requirements.