To qualify as an eligible property, the property being purchased with the assistance of a homeownership assistance fund loan must be a newly constructed or existing single-family residential dwelling located within the state. At the time the property is purchased, the property must be totally completed, in good repair, and meet mortgage industry accepted underwriting standards, or provisions must be made to assure that these standards will be met.
MS s 462A.06
14 SR 2632
June 11, 2008
Official Publication of the State of Minnesota
Revisor of Statutes