(218) 749-4050

Advice you can trust… Since 1978.

Buyers new to the housing market are often unsure and confused about what kinds of financing are available, and the process involved in finding a home with a REALTOR®. Several agencies have been established to help buyers, as follows:

Arrowhead Economic Opportunity Agency

The Arrowhead Economic Opportunity Agency, serves all of northeastern Minnesota, and has a home ownership program designed for First Time Home Buyers. Buyers are required to attend a series of three classes called "Homestretch Workshops" where the home buying process is fully explained, including financing options. AEOA also has a down payment assistance program for qualified applicants. For detailed information go to: or call the office in Virginia, MN. at 218-748-7318 ext. 268. Additional information can also be obtained from the Minnesota Home Ownership Center at, and from the Down Payment Resource site at

Minnesota Housing Finance Agency

This program is designed for First Time Homebuyers, and offers below market interest rates for qualified buyers, plus a program for home fix-up. More information is available at

USDA Rural Development (formerly the Farmers Home Administration)

This program is designed for low or very low income borrowers, not able to obtain financing elsewhere, with interest rates subsidized by the US Government to as low as 1%, for as long as 33 years. The Rural Development program requires that a buyer be pre-qualified for their program before making an offer on a home. More information and program guidelines can be found at or by calling the office at Virginia, MN, at 218-741-3929 ext. 4.

Edwards & Associates
5173 Vermilion Trail
Gilbert, MN 55741
Tel: (218) 749-4050

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