What is a Bond Loan?
A bond loan is a type of mortgage where a portion of the costs of borrowing are partially subsidized by a mortgage revenue bond. These bonds may be issued by cities, states or other entities and are frequently used in first-time buyer programs that provide down payment and/or closing cost assistance* for borrowers.
In many instances these bonds are designed for low to moderate income borrowers or to incent borrowers to purchase homes in underserved areas.
PrimeLending offers a number of bond loan programs in Minnesota.
Please be sure to ask your PrimeLending loan officer for program highlights and details.
*Certain restrictions apply. Not available in all areas. Please contact your PrimeLending loan officer for more details.