Down Payment Assistance Programs

If you are purchasing a new home in one of the following areas, applicants can receive down payment and closing cost assistance. These are city-led programs that offer specific down payment assistance programs for their residents. All programs are subject to availability and each program has specific requirements and terms on eligibility, please call us for full details on any of the following programs.

To ensure funding we need a signed and executed purchase agreement and the application must be submitted at least four weeks prior to closing.

City Programs

Anoka

  • 0% APR with loans up to $2,500 to help purchase foreclosed properties.

  • Income limits apply.

Brooklyn Center

  • 0% APR with amounts up to $7,500.

  • Household income and asset limits apply.

  • Borrower must be a legal resident and considered a first time homebuyer as defined by someone who hasn’t owned a home within the last 3 years.

Brooklyn Park

  • ​0% APR.

  • ​Amounts up to $7,500 for residents moving to Brooklyn Park. Up to $10,000 for current Brooklyn Park residents.

  • Income limits apply.

  • ​Borrower must be a legal resident and considered a first time homebuyer as defined by someone who hasn’t owned a home within the last 3 years.

Coon Rapids

  • 0% APR with loans up to $5,000.

  • Income limits apply.

  • Borrower must be considered a first time homebuyer as defined by someone who hasn’t owned a home within the last 3 years.

Fridley

  • 0%  APR with loan amounts up to $5,000

  • No income limits

Minnetonka

  • 1% APR with loans up to $15,000.

  • Income limits apply.

  • Borrower must be considered a first time homebuyer as defined by someone who hasn’t owned a home within the last 3 years.

St. Louis Park

  • 0% APR with loans up to $ 15,000.

  • Income limits apply.

  • Borrower must be considered a first time homebuyer as defined by someone who hasn’t owned a home within the last 3 years.

Minneapolis Neighborhood Programs

Audubon Park

  • 0% APR with loans up to $5,000.

  • No income limits.

  • Eligible homebuyer(s) MUST attend a Home Stretch workshop or other valid homebuyers course offered through an approved counseling agency by the US Department of Housing and Urban Development. 

Central

  • 0% APR with loans up to $5,000. Loans up to $10,000 for vacant properties.

  • Income limits apply.

Columbia Park

  • 0% APR with loans up to $5,000.

  • Fixed interest rate.

  • ​Income limits apply.

East Phillips

  • 0% APR with loans up to $10,000.

  • Income limits apply.

Hawthorne

  • 0% APR with loans up to $10,000.

Jordan

  • Loan amounts from $1,000 to $4,000.

  • 0% APR.

  • Income limits dictate term and forgivness.

Southeast Como

  • Loan amounts up to $5,000.

  • 0% APR.

  • Income limits apply.

Standish Ericcson

  • 0% APR with loans up to $2,000.