Down Payment Assistance Programs
Did you know if you’re a first time home buyer that you may qualify for Down Payment Assistance (DPA)?
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GENERAL OVERVIEW
Buyers must qualify for each Down Payment Assistance Program, and each program may have their own requirements.
Oftentimes, you can layer DPA programs to stack assistance and increase financial help.
“First Time Homebuyer” refers to any buyer who has not had ownership interest in a home in the last 3 years. So, you might have owned real estate in the past.
There are additional support resources available for 1st Generation Homebuyers (often in addition to other First Time Homebuyer assistance).
Different Cities and municipalities may offer their own assistance as well.
Assistance can come in the form of interest-free loans, and/or forgivable loans (often forgiven after owning the home for a certain number of years).
Depending on if/how you qualify - and for what programs, you may be able to purchase a home with as little as $1000.00 of your own money.
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RESOURCES FOR DPA IN MINNESOTA
Down Payment Assistance Program Search Tool
Search for programs in the area you are buying!
City-Specific Down Payment Assistance Information
Find more information of city-specific programs in Anoka, Blaine, Brooklyn Center, Brooklyn Park, Coon Rapids, Fridley, Minnetonka, Roseville, and St. Louis Park
