CDFI loans are available for:
- Primary single-unit homes
- Townhomes
- Condos
- Double-wide manufactured homes
What is a CDFI Loan?
The CDFI program uses federal funds to promote affordable mortgage lending to low-income and under-served borrowers who qualify.
Because CDFI loans are backed by federally secured funds, Lake Area Mortgage can offer mortgages to people that may not qualify for a traditional mortgage. The program is designed to benefit people with an imperfect credit history or limited income. The goal is to help as many people as possible own a home. It’s just another way Lake Area Mortgage is committed to creating a positive impact in the lives we touch. Ask about our CDFI program today!
Questions?
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This is not a commitment to lend or extend credit. Restrictions may apply. Rates may not be available at time of application. This is not an offer to enter a loan agreement at a specific rate. An offer to enter into such an agreement may only be made pursuant to Minn. Stat. 47.206. Information and/or data are subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states. Lake Area Mortgage™ is a division of Royal Credit Union, 1200 County Road E., Ste 200, Arden Hills, MN 55112. NMLS# 543781.
