Cedar/ Riverside

Home Buyer Deferred Loan Program

The Cedar Riverside Neighborhood has made Neighborhood Revitalization Program (NRP) funds available to Cedar Riverside residents to use toward down payments, closing costs and repairs to the new property. Learn More

Home Buyer Assistance Grant Program

Applicants with household incomes less than 50% of median income may be eligible for a grant $2,000 to $15,000 is available at a 0% interest rate. Applicants have to be a first time home buyer and must complete a "pre-purchase" counseling program. Maximum repayment term is 10 years, the loan will be forgiven if you continue to own and live in your property for 10 years. Learn More

University District Partnership Alliance: Preserving, Maintaining, and Increasing Homeownership

Home buyer assistance program that provides financial incentives of up to $10,000 in the form of forgivable loans to promote owner-occupied home ownership available to new home buyers anywhere in the University District. Learn More

Central

Central Home Buyer Assistance Loan

Down payment and closing cost assistance for up to $5,000 for a standard purchase or $10,000 for a vacant home purchase is available for 1 to 2 unit properties in the Central Neighborhood. The property can be owner-occupied or a rental property. Properties must be rehabilitated if required by the City to comply with zoning and code requirements. The loan is 0% interest deferred. The entire amount is forgiven if the borrower continues to own the property for 5 years following the close of the loan. Click here to view program brochure.

Corcoran

Home Buyer Purchase Rehabilitation Loan

$1,000 to $10,000 amount at 0% fixed interest rate. Available for those who purchase a single family or duplex that is currently vacant due to foreclosure or abandonment. Properties must be owner-occupied, and loan is deferred until the time of sale of the property or refinance. Terms include no maximum income limit, loan is secured by a mortgage on your property and closing costs apply. Learn More

Southeast Como

Southeast Como Home Ownership Program

SECIA has made Neighborhood Revitalization Program (NRP) deferred funds available for closing cost/down payment assistance for people purchasing a property in the SE Como neighborhood. Learn More

• Loan amounts up to $5,000
• 0% interest rate
• No income limit
• 100% forgiven if the owner remains in the property for 7 years from the date of the loan closing
• This loan is secured by a mortgage on the property
• Closing costs apply

Harrison

Entry Cost Assistance Deferred Loan

• 5-year forgivable loan
• Up to $4000 at 3% interest
• Maximum income $63,000
• Don’t need to be first time buyer

Purchase/Rehab Subsidy Deferred Loans

A Center for Energy and Environment 2% interest loan, between $5,000 and $15,000 is available to applicants purchasing or rehabbing a home in the Harrison neighborhood. There are no income limits and applicants need not be first time home buyers. Loan funds must be matched on a 1:1 ratio and properties must be owner-occupied. Maximum repayment term is 5 years. Loan is forgiven at 20% per year. If the borrower remains in their home for 5 years, maintains homestead status, and completes the required post-purchase counseling, the loan will be completely forgiven.

Hawthorne

Hawthorne Advantage Program

Down payment and closing cost assistance for up to $5,000 is available for home buyers in the Hawthorne Neighborhood. The loan is forgivable if the buyer occupies the home for at least 10 years. Residential properties containing no more than 1 to 4 dwelling units are eligible. The property must become owner occupied at close of sale. No income limits apply.

• Assistance equal to 3% of loan with a $4000 maximum
• 10 year forgivable loan
• No income limit
• Borrower must invest on a 1:1 match
• Don’t need to be a first time buyer

Marcy-Holmes

NRP Revolving Fund Loans

• up to $20,000 Click here for more details

University District Partnership Alliance: Preserving, Maintaining, and Increasing Homeownership

Home buyer assistance program that provides financial incentives of up to $10,000 in the form of forgivable loans to promote owner-occupied home ownership available to new home buyers anywhere in the University District.

McKinley

McKinley Home Buyer Assistance Program

Down payment and closing cost assistance for up to $4,000 is available for home buyers in the McKinley Neighborhood. The loan is forgivable if the buyer occupies the home for at least 5 years. Single-family homes, duplexes, condominiums, and town homes are eligible. No income limits apply.

• Up to $4000, interest free loan
• Forgiven after 5 years
• No income limits
• Don’t need to be a first time buyer

Phillips

Minneapolis Phillips Partnership Down Payment Assistance Program

• Home must be in specific boundaries of Phillips neighborhood
• No townhomes or condos
• Up to $10,000 assistance, interest free
• Forgiven after 5 years

Prospect Park

NRP Revolving Fund Loans

• up to $5,000

Deferred Loans

• up to $5,000

University District Partnership Alliance: Preserving, Maintaining, and Increasing Homeownership

Home buyer assistance program that provides financial incentives of up to $10,000 in the form of forgivable loans to promote owner-occupied home ownership available to new home buyers anywhere in the University District. Learn More

Sheridan

Sheridan Home Buyer Assistance Program

Down payment and closing cost assistance for up to $5,000 is available for households at or below 80% of HUD’s area median income. The home may be 1 to 4 units and must be owner-occupied. The loan is 0% interest deferred. The entire amount is forgiven if the homeowner resides in the property for six years following the close of the loan.

• Up to $5000, deferred interest free loan
• Forgiven after 6 years
• Maximum income of $67,200
• Don’t have to be first time buyer

Shingle Creek/ Lind-Bohanon

Humboldt Greenway Gap Financing

Up to $44,000 is available as gap financing (funding to bridge the gap between the purchase price and mortgage level the household is qualified for) toward the purchase of a Humboldt Greenway new construction home. Income limits apply. Learn More

Ventura Village

Village Home Buyer Program

This program can be used to finance the purchaser’s closing costs, and/or be applied towards the actual purchase price of the property. The property must be located in the Ventura Village neighborhood. The property must be homesteaded and owner-occupied by the applicant. Single-family homes, duplexes, condominiums, and town homes are eligible. Purchasers of a property through a Community Land Trust or purchasers of a co-operative are ineligible. No match is required. The maximum loan amount is $5,000 and the minimum amount is $2,000. There is a 0% interest rate and the loan is forgiven after 5 year if the property remains owner-occupied during the five year period.