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MPHA’s Lease-to-Own Program

The Lease-to-Own Program Waiting List is currently OPEN

Minneapolis Public Housing Authority’s Moving to Work, Lease-to-Own Program is an initiative that permits qualifying families (1 to 4 person households) to rent a 2-bedroom new construction townhome with commitment to purchase within five years.

Minimum Criteria

To meet the Minimum Criteria the Pre-applicant Family must:

  • Have one to four family members for these 2-bedroom townhome units;
  • Be a first time homebuyer;
  • Have an income of $25,500/year;
  • Have reasonable credit;
  • Be currently employed and continuously employed at the firm or doing the same or similar work for the previous two year period. This requirement may be waived for an elderly or disabled applicant who has sufficient income to qualify for purchasing financing;
  • Be able to pay minimum rent and utilities in the amount of $869/month; and
  • Have the capacity to qualify for financing and to purchase the townhome within five years.

If you do not meet the minimum criteria for participation, your pre-application will not be accepted. MPHA may reject an incomplete or unsigned pre-application.

MPHA is accepting pre-applications for this initiative on a first come, first served basis. The waiting list will close once the Townhomes are filled but may be reopened if vacancies occur.
This pre-application process does not permit access to any other MPHA affordable housing program.

Click here for more information on how to apply

By | 2017-06-16T21:41:27+00:00 July 31st, 2014|News|0 Comments

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