DPA / 1st Time Home Buyer Programs
There’s a lot of financial assistance available to 1st Time buyers but most people never hear about it until it’s too late. When you want to go to college, one of the first things you do is check out the financial aid office to see what’s available to help defray the cost. We like to think of ourselves as providing that same service for people who want to purchase a home. Most lenders do not participate in these programs as they are hard work and low profit and frankly, so complex that they take a tremendous investment of time and study to make them available on a continuous basis. Knowing where and how to find a program gives you a huge financial leg up so check out the list below and then call us. We take great pride in being Minnesota’s Leader in finding financial aid products for 1st Time Buyers.
There’s also money available for non-first time buyers. In an attempt to get owner occupants to come and live in certain neighborhoods, or in the city, incentives have been made available over the past couple of years. Call us. We’ll tell you where those incentives are available.
Brooklyn Center ReNew Buyer Incentive Program Down payment and closing cost assistance program to help rebuild the housing market in Brooklyn Center. |
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CASA State of Minnesota Community Activity Set Aside program Provides down payment and closing cost assistance and below market interest rates for low to moderate income and work force housing purchaser. |
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Offers affordable housing opportunities to homebuyers to live where they work, targeting the local work force. |
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City Living for Minneapolis and St. Paul Available to purchasers within the city limits of Minneapolis and St. Paul, provides below market rates and grants for down payment and closing costs |
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City of Lakes Community Land Trust creates perpetually affordable housing through a land trust model that allows the buyer to share in the increased home value when they sell |
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Provides subordinate mortgage loans up to $60,000 in the city of Edina that can be used for down payment and closing costs |
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Community Action Partners for Suburban Hennepin County Free, non-profit housing agency provides services for current and prospective homeowners. |
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Dakota County Community Development Agency Provides 1st time buyer 1st mortgage program and down payment assistance for new or existing homes in the county |
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Dayton's Bluff Neighborhood Housing Services This agency builds and rehabilitates single-family homes and provides entry cost assistance and low interest home improvement loans to people in the Dayton's Bluff and Payne-Phalen neighborhoods. |
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FHA(Federal Housing Administration) Energy Efficient Mortgage Program Allows a buyer using an FHA mortgage to obtain up to $12500 over the amount of the mortgage for energy efficiency improvements completed at the time of purchase |
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Greater Minneapolis Metropolitan Housing Corporation This non-profit developer works with the Minneapolis Community Planning and Economic Development Agency and MHFA to build homes for low to moderate income buyers |
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Hennepin County Neighborhood Stabilization Program Hennepin County has created homebuyer programs for the purchase, management and resale of foreclosed and abandoned properties. |
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McKinley Home Buyer Assistance Program Up to $4000 in down payment assistance to any qualified buyer within this neighborhood. Learn more from us as they don't have a website that gives details on this program. |
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This is a down payment and closing cost assistance program to help rebuild the housing market in key neighborhoods. Up to $10000 in an interest free loan forgiveable over 5 years to anyone buying a home in which they will live in 26 eligible neighborhoods |
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Minnesota Housing Finance Agency Minnesota Mortgage Program First mortgage program that offers a below market interest rate to qualifying first time buyers. Down payment and closing cost assistance is available under the CASA initiative |
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Neighborhood Energy Connection Loans, grants and rebates available for making energy efficient improvements. |
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Plymouth's First Time Homebuyer Program First time home buyers in Plymouth may qualify for zero interest loans for up to $25000 to be used for down payment and closing costs |
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Non-profit organization that develops/builds affordable housing with the goal of enhancing neighborhood stability and family self sufficiency... |
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Ramsey County First Time Buyer Program Up to $20000 in down payment assistance to first time buyers who work in Ramsey County and will live in suburban Ramsey County |
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This deferred loan program can be used for down payment and closing costs for anyone wishing to purchase a home in the Sheridan neighborhood. Household income must be below $57500. There are also home improvement funds for qualifying home owners |
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Created to honor those who dedicate their lives to serving the community, this program offers $15000 to homebuyers purchasing within the political boundaries of St. Paul and must be used in conjunction with the Take Credit mortgage credit certificate program |
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Two Rivers Community Land Trust The goal of this program is to make homes available for people making 80% of the area median income. They rehab existing homes, build new homes and purchase newly built units |
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West Hennepin Affordable Housing Land Trust Providing the benefits of homeownership to individuals and families that are otherwise unable to buy a house through a land trust model |
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Woodbury First-time Home Ownership Program The objective of the Woodbury First-time Home Ownership Program is to encourage home ownership in the City of Woodbury by providing financing to low- and moderate-income first-time purchasers. Low-interest, deferred loans of up to $25,000 are available to qualified families |
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