Three distinct, innovative and successful programs, the Single Family Homeownership Program, SHOP Home Mortgage, and the Predevelopment Revolving Loan Fund provide the structure for the achievement of GMHC’s mission to preserve, improve and increase affordable housing for low and moderate income individuals and families, assist communities with housing revitalization as well as create and carry out demonstration projects.
Our programs support and benefit a broad spectrum of individuals, families, organizations and agencies that are our constituents and partners in providing affordable housing solutions throughout the Twin Cities Metropolitan area.
To learn more about GMHC’s programs, take a tour of our capabilities by selecting one or more of the following options:
Single Family Home Ownership Program
Since 1971 GMHC has, through its program of renovating and building single-family homes, afforded families and individuals the opportunity to become homeowners. Most of the homes are purchased by people whose incomes are at or below 80% of the median income and first time homebuyers. Renovating and selling foreclosed properties is proving to be a successful initiative in providing affordable housing while supporting the revitalization of our most distressed metropolitan neighborhoods.
Predevelopment Revolving Loan Fund
One of the very first programs undertaken upon the formation of the Greater Metropolitan Housing Corporation in 1970, was to provide technical assistance and high risk seed loans to organizations to aid in the development of quality, affordable housing. These loans have frequently provided the momentum to get important projects underway projects that provide affordable housing units to metropolitan residents.
SHOP Home Mortgage
The Greater Metropolitan Housing Corporation and Dayton’s Bluff Neighborhoods Housing Services (DBNHS), created the SHOP program in 2008 to offer socially responsible mortgage services to underserved and disenfranchised people and to help revitalize low and moderate income neighborhoods. Clicking on this link will direct you to the SHOP Home Mortgage website.
GMHC’s HousingResource Centers program provided services from 1995-2017 to individuals and families who remodeled and refreshed their homes through this nationally-recognized program. Services provided by the HousingResource Centers included low-cost financing for homes and businesses, construction management services and down payment assistance for home buyers. At the end of 2017, the HousingResource Centers closed and all services provided by them have been discontinued.