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Homeward's Housing Trust Fund Program
FAQ page abd detailed information about the program.
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having trouble with the online applications process? print a paper application here.
HOMEWARD'S HOUSING TURST FUND PROGRAM
The purpose of this program is to assist extremely low income homeowners with minor repairs to their homes with a grant.
How much can a homeowner receive? The maximum amount a homeowner canreceive is $3,375.
Who is eligible for this grant? Anyone who is a homeowner in Wright County and whose income is 30% or less of the average income in Wright County is eligible. See the chart below:
| Family Size | 30% | 80% |
| 1 | $11,900 | $31,700 |
| 2 | $13,600 | $36,250 |
| 3 | $15,300 | $40,750 |
| 4 | $17,000 | $45,300 |
| 5 | $18,350 | $48,900 |
| 6 | $19,700 | $52,550 |
These income levels may change. For the minor repair grant program, contact Wright County Social Services for the income guidelines and an application.
How does the home improvement grant/loan program work? The homeowner can get up to $7,000 for home improvements. One third of the is can be a grant and two thirds can be a loan. It can be a five year loan or a ten year loan. The five year loan will have an interest rate of 5%, and the ten year loan will have an interest rate of 6%. The home must be the homeowner's primary residence. The properties cannot be in a 100 year flood plain area. Homeward will file a five year deed restriction for the grant portion and a mortgage for the loan portion. In most cases, a contractor will do the work.
How does someone apply for this grant/loan? Complete the online form to the right and submit the information so that staff can determine you eligibility for the program. Someone will be in contact with you within 14 business days of the time you sub mitt your information.
How does the down payment assistance grant/loan program work? The home buyer will work with his/her local lender to determine how much assistance is needed. The applicant can qualify for up to $7,000. One third of this can be a grant and two thirds can be a loan. This process will be the same as the home improvement grant/loan program. This program requires a match from the applicant. The property must be the homeowners primary residence and cannot be located in a 100 year flood plain. no contracts are allowed. The home buyers must reside in Wright County for the grant portion of this program.
What are the applicant's costs? Homeward's fees include the cost to record a mortgage with the county, a flood plain certification, a $10 administrative fee and a credit report if necessary.
How are payments made? An ACH payment plan will be used.
Does the home need to be served by a Rural Electric Cooperative (REC)? No. While RECs do serve in rural areas, it is not required that the house involved be served by an electric cooperative.
Any type of home improvement is eligible for the loan program. This includes, but is not limited to:
- Structural repairs
- Plumbing
- Electrical work
- Roofing
- Energy efficiency improvements
- Kitchen repairs
- Window replacements
- Siding replacements
- Well and septic systems
- Furnaces and water heaters