Saturday, February 19, 2011

St. Louis Park - Live Where You Work

Rob's office is located in St. Louis Park, so it was a natural option when we were considering where to purchase a home.

Our fantastic mortgage broker, PJ Harris, made us aware of an interesting program offered by the city of St. Louis Park: Live Where You Work. The city partners with employers to offer employees grants up to  $2,500 toward the purchase of a new home. You can get an extra $1,000 if the home is in foreclosure.

According to the Live Where You Work website, "the grant can be used to help finance a down payment, closing costs and gap financing. The program not only gives workers an opportunity to own a home close to their job, it increases employee loyalty, retention, and morale, and creates a positive community building environment for the homeowner and their family, the company they work for and the city. Having employees living in the community also will reduce commute times and fuel costs."

An online brochure features some information on the program. For further details about this program and eligibility requirements, contact the City of St. Louis Park’s Housing Supervisor, Michele Schnitker, at (952) 924-2571 or mschnitker@stlouispark.org.

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