As a Realtor®, you know firsthand how homeownership can change lives—not just by building generational wealth, but by opening doors to new opportunities. Still, navigating the maze of down payment assistance programs can feel overwhelming for both you and your clients. With so many options out there and constantly shifting funding, it’s easy for buyers to miss an opportunity.
We’ve simplified things by rounding up the latest down payment assistance programs available in our area. With the spring market heating up, this is your chance to guide your buyers toward financial support that can make the home-buying process a bit less daunting.
Things to know: Not all programs are just for first-time homebuyers. These programs can offer loans or grants that can cover some—or even all—of the down payment and closing costs, tackling the biggest obstacle many buyers face.
As a Realtor®, staying updated on downpayment assistance programs is key to better advising your clients and helping them take the next steps toward homeownership.
Click each link below to get the latest details on eligibility, repayment options, and more:
First Generation Homebuyers Community Down Payment Assistance Fund
- Who qualifies? First-generation home buyers, current residents of Minnesota with income below a certain threshold.
- How much assistance can they get? Up to ten percent of a home’s purchase price, capped at $32,000
- Repayment details: The down payment assistance provided is a zero-interest loan that is forgiven over five years as long as the homebuyer lives in the home as their primary residence.
- What type of property can be purchased? A one or two-unit home located anywhere in Minnesota. Shared equity, community land trusts, and other resale-restricted purchases are permitted.
HUD Good Neighbor Next Door Program
- Who qualifies? Law enforcement officers, teachers, firefighters and emergency medical technicians.
- How much assistance can they get? A discount of 50% from the list price of the home.
- Repayment details: Deferred 3-year forgivable loan as second mortgage, 0% interest rate. After 3 years, buyers can sell their home and keep any equity or appreciation.
- What type of property can be purchased? Single-family homes in revitalization areas that are listed through the Good Neighbor Next Door Sales program.
Twin Cities Habitat for Humanity Advancing Black Homeownership Program
- Who qualifies? Black or African American Minnesotans who are descendants of slavery in the United States and Habitat clients.
- How much assistance can they get? Up to $50,000.
- Repayment details: Deferred, 5-year forgivable loan as second mortgage, 0% interest rate.
- What type of property can be purchased? Newly built or rehabbed property.
Midwest Minnesota Community Development Corporation First Generation Homebuyers Community Down Payment Assistance Fund
- Who qualifies? First-generation homebuyers who are current MN residents with income below a certain threshold.
- How much assistance can they get? Up to ten percent of the home’s purchase price (capped at $32,000).
- Repayment details: 5-year, forgivable loan, 0% interest rate.
- What type of property can be purchased? A one or two-unit home anywhere in Minnesota.
Minnesota Housing Start Up and Step Up Programs
- Who qualifies? First-generation homebuyers, a household of four or more people, a person with a disability, or a head of household with one eligible dependent, with a maximum income of 28% of the area median income.
- How much assistance can they get? Up to $18,000.
- Repayment details: Monthly payment loan: 10-year repayment term with interest rate equal to the first mortgage. Deferred payment loan: no interest, balloon payment due at the end of the mortgage term.
Anoka Down Payment Assistance Deferred Loan
- Who qualifies? Homebuyers with income below 80% of the HUD median family income.
- How much down payment assistance can they get? Up to $2,500.
- Repayment details: 0% interest loan with no monthly payments. 100% of the loan is forgiven if the homebuyer lives in the home for 30 years.
- What type of property can be purchased? 1-4 unit homes in Anoka.
Blaine Down Payment Assistance Loan
- Who qualifies? Homebuyers who are legal residents of the U.S.
- How much down payment assistance can they get? Up to $10,000.
- Repayment details: 0% interest loan with no monthly payments. 100% of the loan is forgiven if the homebuyer lives in the home for 30 years.
- What type of property can be purchased? 1-4 unit homes in Blaine with purchase price not exceeding $450,000.
Brooklyn Park Down Payment Assistance Loan
- Who qualifies? Homebuyers who are legal residents of the U.S.
- How much down payment assistance can they get? Up to $10,000.
- Repayment details: 0% interest loan with no monthly payments. 100% of the loan is forgiven if the homebuyer lives in the home for 10 years.
- What type of property can be purchased? 1-4 unit homes in Brooklyn Park with purchase price not exceeding $515,200.
Columbia Park Down Payment Assistance Loan
- Who qualifies? Homebuyers with income below 100% of the HUD median income.
- How much down payment assistance can they get? Up to $5,000.
- Repayment details: 0% interest loan with no monthly payments. 100% of the loan is forgiven if the homebuyer lives in the home for 10 years.
- What type of property can be purchased? 1-4 unit homes in the Columbia Park neighborhood of Minneapolis.
Coon Rapids Down Payment Assistance Loan
- Who qualifies? Homebuyers with income at or below 110% of the area median income.
- How much down payment assistance can they get? Up to $5,000.
- Repayment details: 0% interest loan with no monthly payments, deferred until the home is sold or no longer occupied by the owner.
- What type of property can be purchased? 1-4 unit homes in Coon Rapids.
Fridley Down Payment Assistance Deferred Loan
- Who qualifies? Homebuyers with income below 110% of the area median income who are legal residents of the U.S.
- How much down payment assistance can they get? Up to $10,000.
- Repayment details: 0% interest loan with no monthly payments. 100% of the loan is forgiven if the homebuyer lives in the home for 30 years.
- What type of property can be purchased? 1-4 unit homes, townhomes, and condos in Fridley.
Hawthorne Down Payment Assistance Loan
- Who qualifies? Homebuyers who live in the U.S. No income limits.
- How much down payment assistance can they get? Up to $7,500.
- Repayment details: 0% interest loan with no monthly payments. 100% of the loan is forgiven if the homebuyer lives in the home for 10 years.
- What type of property can be purchased? 1-4 unit homes, townhomes, and condos in the Hawthorne Neighborhood of Minneapolis.
Minnetonka Down Payment Assistance Deferred Loan
- Who qualifies? Homebuyers who are legal residents of the U.S. who have a social security number, with income at or below 120% of the area median income.
- How much down payment assistance can they get? Up to $50,000.
- Repayment details: 0% interest loan with no monthly payments. 100% of the loan is forgiven if the homebuyer lives in the home for 30 years.
- What type of property can be purchased? Singe-family homes in Minnetonka with purchase price not exceeding $485,000.
Minnetonka Pathways to Homeownership Program
- Who qualifies? Homebuyers who have not owned a home in the past seven years with income at or below 120% of the area median income.
- How much down payment assistance can they get? Up to $75,000.
- Repayment details: 0% interest loan with no monthly payments. 100% of the loan is forgiven if the homebuyer lives in the home for 20 years.
- What type of property can be purchased? Single-family homes in Minnetonka with a purchase price not exceeding $485,000.
City of Shoreview First Time Homeowners Down Payment Assistance
- Who qualifies? Homebuyers with an annual household income below 120% (amortizing loan) or 80% (due-on-sale loan) of the area median income who have not owned a home in 3 years.
- How much down payment assistance can they get? Up to $30,000 (amortizing loan) or $20,000 (due-on-sale loan).
- Repayment details: An amortizing loan is paid back in monthly payments. A due-on-sale loan is paid back when the house is sold or no longer owner-occupied with 0% interest and no payments.
- What type of property can be purchased? Single-family homes, townhomes, duplexes, and condominiums in Shoreview. Purchase price must not exceed $425,000.
St. Louis Park Down Payment Assistance Deferred Loan
- Who qualifies? Homebuyers with income at or below 100% of the area median income for a household size of 2 or less, or income at or below 115% of the area median income for a household size of 3 or more who have not owned a home in 3 years.
- How much down payment assistance can they get? Up to $20,000.
- Repayment details: 0% interest loan with no monthly payments. 100% of the loan is forgiven if the homebuyer lives in the home for 20 years.
- What type of property can be purchased? 1-2 unit homes, townhomes and condos in St. Louis Park.
St. Louis Park First Generation Down Payment Assistance Deferred Loan
- Who qualifies? First-generation homebuyers who are legal residents of the U.S. with a social security number and have a household income not exceeding 80% of the area median income.
- How much down payment assistance can they get? Up to $75,000.
- Repayment details: 0% interest loan with no monthly payments. 100% of the loan is forgiven if the homebuyer lives in the home for 20 years.
- What type of property can be purchased? Single-family homes, condos or townhomes and duplexes in St. Louis Park.
The information above is just the basics—each program may have additional eligibility criteria like homebuyer education, credit score requirements, lender requirements, and more. Click each link for more details.