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.

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.

Minnetonka

  • 1% APR with loans up to $15,000.
  • Income limits apply.

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.

Hennepin County, Penn Ave Corridor

  • 0% APR  with loans up to $5,000.
  • Income limits apply.
     

Minneapolis Neighborhood Programs

Central

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

Hawthorne

  • 0% APR with loans up to $5,000.

Jordan

  • 0% APR with loans up to $4,000.
  • Income limits apply.
Lind Bohanon
  • 0% APR with loans up to $5,000.
  • No income limits

Standish Ericcson

  • 0% APR with loans up to $2,000.