Homebuyer resources

We give money for people to access homeownership.

Homebuyer education and financial wellness

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

Providers

Services

Website

Minnesota Homeownership Center

Homebuyer Education/
Foreclosure Support/Financial Wellness

Visit the Minnesota Homeownership Center website
NeighborWorks Home Partners

Homebuyer Education/Financial Wellness

Visit the NeighborWorks Home Partners website
BuildWealth, MN Homebuyer Education/Financial Wellness Visit the BuildWealth, MN website
Emerge Financial Wellness  Visit the Emerge website
Capi, INC (Immigrant Focused) Financial Wellness Visit the Capi, INC website
African Development Center (African resident-focused) Homebuyer Education/
Financial Wellness
Visit the African Development Center website
Isuroon (Somali focused) Homebuyer Education/
Financial Wellness 
 

 

Minneapolis Homes: Access Down Payment Assistance

About

We provide up to $20,000, 0%,  30-year deferred mortgage financing to purchase a home in Minneapolis. Amount of assistance awarded is based on household income.   Before executing a purchase agreement, applicants must complete HUD Approved-Homebuyer Education & Financial Wellness counseling. 

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.

Household size 1 2 3 4 5 6
60% AMI $52,200 $59,640 $67,080 $74,520 $80,520 $86,460
80% AMI $68,500 $78,250 $88,050 $97,800 $105,650 $113,450

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

Apply

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

Homebuyer Initiated program

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

Information for lender and realtor partners

Request accessible format

If you need help with this information, please email 311, or call 311 or 612-673-3000.

Please tell us what format you need. It will help us if you say what assistive technology you use.

Contact us

 

Ryan Nestingen

Housing Policy & Development

Community Planning and Economic Development

 

Address

Public Service Building
505 Fourth Ave. S., Room 320
Minneapolis, MN 55415

 
 

 

 

Community Planning & Economic Development (CPED)

Address

Public Service Building
505 Fourth Ave. S., Room 320
Minneapolis, MN 55415