The Star Tribune takes a look at the first-time homebuyer landscape in the wake of a historic state investment in down payment assistance.

In the wake of $150 million in new state funding for down payment assistance in Minnesota, the Star Tribune asks the question, Is It Finally a Good Time to Be a First-Time Homebuyer In the Twin Cities? We think the answer is yes!

“The aim of [these funds] is to ‘help advance the goal of closing the racial homeownership gap in Minnesota and getting more first-generation homebuyers over the down-payment barrier and into homeownership,’ said Julie Gugin, president of the [Minnesota] Homeownership Center. ‘You have to be patient, be prepared. So have your down payment and loan figured out so you can be a more attractive buyer if there are bidding wars.'”

“Gugin also said it’s important to remember that your first house is not likely to be your last, so adjust your expectations. ‘Have realistic expectations about what houses are available and how much you can afford, while not sacrificing your wants and needs about where you want to live.'”

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