Minneapolis & St. Paul City Living Down Payment Assistance
City Limits of St. Paul or Minneapolis with assistance of up to 2% of the 1st mortgage to be used for closing costs and down payment. The assistance has a 0% interest loan requiring no payments due until the sale or refinancing of the home. After 7 years of living in the home it will be forgiven.
- Must be a 1st time home buyer (not owned home in previous 3 years)
- OR purchase in a targeted area
- OR classified as a qualifying veteran (serviced active duty released or discharged other than dishonorable)
- OR performing at least 1/3 of the current federal tax basis or value of the house in renovation work
We can use some of the funds for rehab home improvements
Non Targeted Household Income Limits
- 1-2 ppl $83,900
- 3+ ppl $92,290
Target areas all household sizes income limit of $92,290
Maximum purchase price 1 unit $276,870 2 unit $389,205
Targeted areas 1 unit $369,160 2 unit $553,740
Federally Designated Targeted Areas
Property Address lookup for census tract http://www.ffiec.gov/Geocode/default.aspx
Minneapolis 22, 33, 35.01, 59.01, 59.02, 68, 73.01, 77, 78.01,78.02, 79, 83, 84, 1014, 1015, 1016, 1021,1028, 1029, 1034, 1041, 1048, 1054, 1057,1060, 1069, 1070, 1071, 1072
Saint Paul 305, 327, 329, 331, 337
Ben Coulter
612.384.7818
Ben@UptownFinancial.com
Minnesota First Time Home Buyer Down Payment Assistance Program
Serving Mankato, North Mankato, Northfield, Minneapolis, St. Paul, Brainerd, St. Cloud, Rochester, Duluth and all other cities in Minnesota.
Minnesota First Time Home Buyer Down Payment Assistance Program
