Bremer Bank will Habitat for Humanity boost home ownership in Twin Cities.
The St. Paul, Minn., community bank agreed to purchase and service 500 below-market mortgages approved by Habitat for Humanity’s local chapter.
Twin Cities Habitat’s impact 2020 strategic plan aims to help 500 working-class families — mostly people of color — become homeowners by 2020 with the help of the chapter’s $90 million Home Loan Fund that offers 30-year fixed, below-market-rate mortgages.
Bremer Bank, a $10 billion regional bank, agreed to buy all 500 mortgages as Habitat’s sole banking partner for the fund.
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Photo credit: Brian Peterson/Star Tribute