St. Louis Park: Live Where You Work Program
The "Live Where You Work Program" is a homeownership program that provides employees of St. Louis Park businesses with a loan toward the purchase of a home In St. Louis Park. The guidelines below are subject to change at any time without notice. Funds are subject to availability. Please call us at 612-335-5884 for complete details.
- Loan amount up to $2,500
- Loan can be used toward the down payment, closing costs or gap financing
- Loan is forgivable after 3 years, subject to conditions
- Income limits apply
- Applicants must have been employed at a St.Louis park business for at least 6 months and must work at least 20 hours per week
- Employee must obtain a fixed rate first mortgage from a participating lender
- First time homebuyers must participate in an approved home buying class
- Properties must be owner-occupied and be located in the city of St. Louis Park
The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).