THE HOMECHOICE PROGRAM
Homeownership is a key pathway to building wealth and securing a prosperous future, and we are committed to making it more accessible for our community.
To apply to be a part of this program,
DREAM, PLAN, OWN.
LLFS is expanding its loan services to include housing mortgages, offering community members the opportunity to build, buy existing, or remodel homes both on the reservation and within a 25-mile radius of the reservation boundary. The HomeChoice Program comes with a variety of benefits designed to make homeownership more attainable:
Financial Services
We have secured financial support from the Greater Minnesota Housing Fund to help qualified applicants reduce their cost of building a home, which can fund up to 85% of the home cost.
Control Over Your Property
Homes must be on unrestricted fee land, with no government restrictions or permissions needed on future sales; allowing clients to earn wealth through homeownership.
Comprehensive Support
From funding to house design plans, land for sale, and exploring housing subsidy opportunities, LLFS is your one-stop source for all your homeownership needs.
Eligibility and Limited Availability
The HomeChoice Program is initially limited to 20 houses, applicable to new builds and existing home purchases. To qualify you must meet minimum credit requirements and demonstrate the ability to pay a monthly mortgage payment, including taxes and home insurance.
Prime Locations and Land Availability
LLFS has acquired building lots in the Deer River and Cass Lake areas, chosen for their proximity to jobs, schools, and other amenities. However, this loan program is not limited to these areas and includes unrestricted fee lands throughout the reservation and adjacent lands within 25 miles.
NMLS #2619084
Simplifies Your Path to Homeownership!
We encourage all interested community members to explore this opportunity. By becoming a homeowner, you can build wealth and secure a better future for yourself and your family. For more information about The HomeChoice Progam, contact us. Or start the application process today by clicking the bottom below.
Frequently Asked Questions
The HomeChoice program aims to provide community members with accessible and affordable housing mortgages, offering cost-saving opportunities and increased funding for building, buying existing, and remodeling homes on the reservation and within a 25-mile radius.
Applicants must demonstrate the ability to pay a monthly mortgage, including taxes and home insurance.
The program is initially limited to 20 houses, applicable for both new builds and existing home purchases.
Homes must be built or purchased on unrestricted fee land, not Trust land. This ensures homeowners have full control over their property without government restrictions on future sales. Owning a home on unrestricted fee land means you have complete ownership and control over both the house and the land. You can sell your property without needing government permission and are not limited to selling only to Band members.
LLFS works with various lenders offering many financing options, including Down Payment Assistance programs and other subsidies to qualified borrowers. Through our partnership with the Greater Minnesota Housing Fund, you may qualify for low-cost construction loans if you are building or remodeling a home. These programs can help significantly reduce the overall cost of building a new home.
Yes, LLFS has partnered with regional lenders, architects, licensed housing contractors, and others to provide comprehensive support, including exploring housing subsidies you may qualify for.
No, you are limited to within 25 miles of the Leech Lake Reservation boundaries and land must be unrestricted fee land. We do not develop or purchase housing on Trust lands. LLFS has acquired some building lots in the Deer River and Cass Lake areas, chosen for their proximity to jobs, schools, and amenities. These lands have been chosen to develop affordable housing on and LLFS is offering them on a first come basis. All are unrestricted fee lands.
Yes, the program applies to both new builds and existing home purchases on unrestricted fee land.
Interested community members can start the application process by completing the survey on this page.
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