Woodbury Home Buyer Programs

Woodbury First-Time Homeownership Program

The city of Woodbury is working in tandem with the Greater Metropolitan Housing Corporation to facilitate this program — it’s designed to encourage first-time home ownership in the city of Woodbury. It applies to moderate-income first time home buyers. These are low interest, deferred loans up to $25,000 and are accessible to qualified applicants who earn no more than 80% of the median income of Woodbury.

First time home buyers are those who have never owned a home or haven’t owned a home in the previous three years. Town homes, condo units and single-family detached homes all qualify. The purchase price cannot exceed $275,000.

City of Woodbury Foreclosure Purchase Program

The city of Woodbury is working in part with the Greater Metropolitan Housing Corporation to encourage the purchase of foreclosed properties. This program is meant to provide financing to low and moderate-income buyers. These low-interest, deferred loans of up to $25,000 are accessible to qualified applicants who earn no more than 115% of the Woodbury median income, capped off at $90,000 per household.

The loans may be used for closing costs and for down payment assistance. The home to be purchased cannot exceed $256,000. Foreclosed condos, town homes and single-family detached homes are all eligible.