Buying in 55106 or 55411? Want an extra $8000 on top of the First Time Home Buyer Tax Credit?

Two of the hardest hit zip codes; 55411 and 55106 in the Twin Cities have been given money to get home buyers back in the area.

Home buyers looking to buy a home in St. Paul's Dayton's Bluff neighborhood, 55106 or North Minneapolis neighborhoods like Willard Hay, Near North, Hawthorne, and Jordan will get extra money for a down payment, with the help of a $1 million grant from a Minneapolis charity.

Anyone who purchases a single-family home, duplex, town home, or condo in these 2 zip codes by the end of the 2009 calendar year will receive $8,000. The money will not have to be repaid if the owner keeps the home for seven years. The owner has to stay in the home to qualify, and there are no limits on income. First time home buyers simply take a training class and apply for the grant once they have a purchase agreement.

This funding would be in addition to an $8,000 federal tax credit that is part of this year's federal stimulus package for first time home buyers!

See the following for more information: The Pohlad Family Foundation