Minnesota Bad Credit Mortgage Lenders

Minnesota is a fine place to buy a home and pursue the American dream. With low poverty and unemployment rates, the economy is healthy and shows no signs of slowing down. The percentage of people below the poverty line in Minnesota is only 7.9%, which is promising when compared with the national average of 12.4%.

Minnesota has traditionally been a agricultural state, and today the state still has a large number of farms, although other business flourishes as well.

The state is also interested in sponsoring green initiatives in the building of houses that make use of renewable resources to put less of a strain on the environment, as well as saving the homeowner on utility bills. In this light, the state has sponsored the Minnesota Green Communities initiative. The Minnesota Green Communities is an initiative designed to foster the creation of affordable, healthier, and more energy-efficient homes throughout Minnesota. Through pilot funding of Minnesota Green Communities by the Greater Minnesota Housing Fund, the Family Housing Fund, and Enterprise, four demonstration projects will be built in Minnesota (2005-2007) totalling 180 homes, including rental, homeownership and supportive affordable green housing.

Minnesota Green Communities will support the production of affordable homes with markedly reduced energy costs, use of materials beneficial to the environment, conservation-minded land use planning, and attention to the creation of healthy environments and lifestyles for individuals, children, families, and communities

To get an understanding of the state of the housing market, Minnesota's three major public and private funders of affordable housing, the Minnesota Housing Finance Agency, Family Housing Fund and Greater Minnesota Housing Fund, along with participant organization Metropolitan Council, sponsored The Next Decade of Housing in Minnesota study to project Minnesota's housing needs throughout the decade. The study calculates the number of low-income households in Minnesota living in unaffordable housing and forecasts the need for additional affordable housing units in the state in 2010. The sponsors undertook the project to quantify the need for affordable housing in Minnesota from 2000 to 2010, and to inform decisions about housing investment throughout the state over the decade.

With the healthy economy, the cleaner, greener houses and a well outlined and understood real estate market, buying a house in Minnesota appears to be a solid investment.