Tips
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Here is a list
of Down Payment Assistance Resources in the Minnesota area.
CASA State of Minnesota Community Activity Set Aside program
CASA provides down payment and closing cost assistance and below market interest rates for low to moderate income and work force housing purchaser. Hone Help is another program available to lower income borrowers who qualify and may be used in addition to CASA down payment assistance.
Minnesota Housing Finance Agency Minnesota Mortgage Program (MMP)
First mortgage program that offers a below market interest rate to qualifying first time buyers. Down payment assistance available in “spotlighted” areas.
City Living for Minneapolis and St. Paul
Available to purchasers within the city limits of Minneapolis and St. Paul, provides below market rates and deferred loans for down payment and closing costs.
Come Home 2 Edina
Provides subordinate mortgage loans up to $60,000 in certain areas within the city of Edina that can be used for down payment and closing costs.
FHA 203K (Streamlined) rehab loan (Now available to CASA buyers through MN Housing)
FHA's Streamlined 203(k) program permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in.
Minneapolis Advantage Neighborhood Stabilization Program 2
This is a down payment and closing cost assistance program to help rebuild the housing market in key Minneapolis neighborhoods. Up to $30000 in assistance is available per household based on certain qualifiers.
Ramsey County First Time Buyer Program
Up to $10,000 in down payment assistance to first time buyers who work in Ramsey County and will live in suburban Ramsey County outside the City of St Paul.
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
This list is not intended to be a comprehensive list of assistance programs which may be available from time to time for qualified buyers.
*This information is not intended to be an indication of loanqualification, loan approval,or a commitment to lend. Other limitations may apply.
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