We provide funding to groups that help more than 800 people in Minneapolis each year.

These group offer:

• Homebuyer education
• Foreclosure support
• Financial wellness coaching

General requirements

• The funds are for down payment and standard closing costs.
• Completion of Homebuyer Education and Financial Wellness is required prior to execution of a purchase agreement.
  Eligible homebuyer education programs include:
  • HomeStretch™. (find providers through the Minnesota Homeownership Center website)
  • Framework online education
• Borrowers may not combine two CPED-funded affordability assistance programs on the same property.
• Only City-approved contracts for deed models are eligible. (If applicable)
• Must be an owner-occupied dwelling
• Amount of eligible assistance is based on household income adjusted for household size.
  • Households at or below 80% of the area median income may receive  $10,000 in assistance.
  • Households below 60% of the area median income may receive  $20,000 in assistance.

2023-2024 income limits effective May 1, 2024

The US Department of Housing and Urban Development calculates the area median income for the seven-county metro region annually, adjusting it by household size. This includes all individuals residing at an address. Please note, the rules for calculating income may vary by program. To determine if you qualify, it’s best to consult a loan administrator.

Source: U.S. Department of Housing and Urban Development

Apply

To apply for Minneapolis Homes: Access, contact one of the program administrators:

• BuildWealth MN
• NeighborWorks Home Partners

About

We provide funding to support City of Lakes Community Land Trust’s (CLCLT) Homebuyer Initiated Program, which provides up to $70,000 of assistance to buyers purchasing homes on the open market or current homeowners in need of assistance with deferred maintenance. Homes that use these type of funding are enrolled in a shared equity program under City of Lakes Community Land Trust or the City’s Shared equity program.

General requirements

• Home must be within the City limits of Minneapolis
• Eligible Properties include 1-2 unit homes
• Must complete a CLCLT application

Learn more

Visit the Homebuyer Initiated Program website to learn more

Apply

Apply for a CLCLT home

Minneapolis Homes: Access Down Payment Assistance

• • Guidelines in English  
    • Guidelines in Spanish
    • Guidelines in Hmong
    • Guidelines in Somali
    • Guidelines in Oromo
  • Sample note and sample mortgage
  • Minneapolis Homes: Access Down Payment Assistance flyer

Minneapolis Homes: Financing Affordability Gap

• • Guidelines
  • Sample note and sample mortgage

Perpetually Affordable Housing Land Trust Model

• • Guidelines
  • Sample declaration
  • Manual