First-time home buyer programs in Minneapolis
2 programs run by local housing agencies help buyers in Minneapolis with the down payment, and the statewide Minnesota programs work here too.
- Programs available locally
- 2
- Largest amount
- $20,000
- Loan or grant
- Loan that is deferred
Down payment help in Minneapolis
| Program | Amount | Loan or grant | Income limit | First-time buyers only |
|---|---|---|---|---|
| City of Minneapolis Down Payment Assistance Loan. Operated by City of Minneapolis Community Planning & Economic Development. | Up to $20,000 | Loan that is deferred | Your household income may be as high as 80% of the area median income ($10,000 with income at or below 80% AMI; $20,000 with income under 60% AMI). | Yes |
| Hennepin County Homebuyer Assistance Program. Operated by Hennepin County Housing and Redevelopment Authority. | See the agency page | Ask the agency | Ask the agency | Ask the agency |
Who can get City of Minneapolis Down Payment Assistance Loan?
- Your household income may be as high as 80% of the area median income ($10,000 with income at or below 80% AMI; $20,000 with income under 60% AMI).
- First-time buyer status is required.
- You must take a homebuyer class before using the funds.
- The home must be meant for your family and you to live in.
- You may not combine more than one City program's funds.
- The City must approve Contract for Deed purchases.
- How much you receive depends on your income and the City funds available.
It is a deferred mortgage with a 30-year term and no interest.
You pay nothing each month with a deferred loan. The full amount is due if you sell the home, refinance it or pay off the first mortgage.
Build Wealth or NeighborWorks Home Partners can serve as a City partner. For the full rules, read City of Minneapolis Community Planning & Economic Development's page for City of Minneapolis Down Payment Assistance Loan.
Who can get Hennepin County Homebuyer Assistance Program?
This round has no funding left.
- Hennepin County (countywide).
Contact NeighborWorks Home Partners ([email protected] or 651-292-8710). Read the full rules on Hennepin County Housing and Redevelopment Authority's page for Hennepin County Homebuyer Assistance Program.
Minnesota's statewide programs are also available in Minneapolis
| Program | Amount | Loan or grant |
|---|---|---|
| Minnesota Deferred Payment Loan Plus (DPL+) | Up to $18,000 | Loan that is deferred |
| Minnesota Monthly Payment Loan | Up to $14,000 | Repayable loan |
| Minnesota Deferred Payment Loan (DPL) | Up to $14,000 | Loan that is deferred |
Minnesota Housing provides all Minnesota first-time home buyer programs. The income figure for Hennepin County appears in our HUD tool for income limits.
Contact a lender with questions about buying in Minneapolis.
Tell us where you're buying and a lender that works with Minnesota's programs can tell you which of these fit you, and which you can combine.
Prefer not to call? The lender will reach you if you send your details.