Webber-Camden Down Payment Assistance Loan

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The Webber-Camden Neighborhood currently offers a Homebuyer Program for those who purchase a single-family property in Webber-Camden.

NOTICE: To ensure funding we need a signed and executed purchase agreement and the application must be submitted at least FOUR WEEKS prior to closing.

The guidelines below are subject to change at any time without notice. Loan funds are subject to availability.

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About the Loan

  • 0% APR
  • Loan amounts up to $6,000
  • 5 year loan term
  • No income limits

Property Eligibility

  • 1-4 unit owner-occupied residential properties located in the Webber-Camden Neighborhood.
  • Individual condo and townhome owners and properties held in a trust are eligible.
  • All borrowers must take a HUD approved home-ownership counseling class.
  • Loan approval is subject to credit and program guidelines.

Loan Details

  • 0% APR
  • Closing costs apply.
  • Loan is forgiven after 5 years. 100% of the loan is due upon selling, transferring, or the property is no longer owner-occupied prior to 5 years.
  • Loan is secured by a mortgage.
  • Funds are held in a non-interest bearing escrow account at CEE from loan closing until the work is completed and all final documentation is received. 
  • Funds may be used for down-payment or closing costs related to the purchase of the home

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).

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Not sure what program works for you? Contact us.