Housing Rebound Accelerated by State Agencies: Mortgages
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Kelly Carlson, 36, said she couldn’t have afforded her new two-story home in Shoreview, Minnesota, without the $4,500 grant and the mortgage offered through the state’s Housing Finance Agency.
After four years of renting, Carlson, who earns $54,600 a year as a technology project coordinator at Wells Fargo & Co., bought the two-bedroom townhouse for $105,350 in May. She got a 3.875 percent, 30-year mortgage and a grant to cover most of the closing costs. Her daughter Keira Walquist, who turns five years old in August, has already staked out the loft as her playroom. “She loves it,” Carlson said by telephone.