Brooklyn Center
Brooklyn Center Home Buyer Assistance Programs
Ensuring neighborhoods are safe and attractive is a high priority goal for the City. Several programs and activities are in place to address this goal from maintaining the housing stock to helping reoccupy vacant housing with responsible homeowners.
ReNew Home Buyer Programs
With a commitment to neighborhood housing, the city’s ReNew Home Purchase Assistance programs are designed to help you invest in your future by making your home in Brooklyn Center. The City of Brooklyn Center's ReNew Home Purchase program is getting foreclosed, vacant homes re-occupied with responsible, informed homeowners. The program is designed for people who can afford to purchase and maintain a home, along with managing the responsibilities of home ownership. More than half of the funds have already been used by new Brooklyn Center homeowners.
ReNew Buyer Incentive Program (Loan)
The ReNew loan is a down payment and closing cost assistance program for eligible buyers. This loan offers up to $10,000 in a 0% interest loan, and the loan may be forgiven after five years if the buyer has homesteaded and lived in the home continually during that time. Several types of approved loans may be used for this program if all criteria are met, such as a conventional loan, purchase rehabilitation loan (i.e., FHA 203K), etc.
ReNew Buyer Incentive Program (Grant)
The ReNew grant is a down payment and closing cost assistance program for eligible buyers. The program offers a 3.5% grant up to $7,000 with the use of an approved rehabilitation loan, such as a FHA 203K loan. A minimum $15,000 of approved home improvements (repairs, remodels, or additions) must be made to the home. Qualified contractors and permits will be required as applicable. This grant does not have to be paid back if all the conditions are met.