The path to homeownership is this way >>>>>>>>>

Minnesota Housing: For First Time Home Buyers and Foreclosure Support

http://www.mnhousing.gov/sites/homebuyers/startup

Home Buyer Down Payment Assistance Programs

Homebuyer Down Payment Assistance provides closing costs and reduces the amount of your first mortgage. Eligible homebuyers have access to down payment and closing cost loan programs offered by the City of Minneapolis. Additional eligibility requirements may apply.

Area Median Income (AMI) limits are based on Minnesota Housing. Limits are updated annually.

Minneapolis Homes Homebuyer Assistance Programs information (PDF)

Requirements:

  • Used for down payment and normal closing costs
  • Homebuyer education is required
  • Borrowers may receive only one Minneapolis Homes Homebuyer Assistance program at a time
  • Only City-approved Contract for deed models eligible
  • Must be an owner-occupied dwelling

NOTE: Borrowers do not have to be first-time homebuyers

Grow North Guidelines (PDF)

Minneapolis Homes Affordability Gap Homebuyer Assistance Guidelines (PDF)

Homeownership Opportunity Minneapolis (HOM) Guidelines (PDF)

Home Ownership Works (HOW) Guidelines (PDF)

Minneapolis Homes BUILD Homebuyer Incentive Guidelines (PDF)

Minneapolis Homes REHAB Homebuyer Assistance Guidelines (PDF)

For more information contact Aarica Coleman, (612) 673-5078

Own Your Future Own Your Home!

Maybe you’ve thought homeownership wasn’t possible, or you didn’t know where to start. Maybe you thought your credit wasn’t good enough or you haven’t saved enough for a down payment. We can help!

The City of Minneapolis is partnering with Minnesota Housing and the Minnesota Homeownership Center to provide access to down payment assistance, quality, affordable mortgages and free, non-biased housing experts that can help you become a successful homeowner!

Quality, Affordable Mortgages and Down Payment Assistance

Minnesota Housing, the State’s Housing Finance Agency, offers mortgage loans for first-time homebuyers with affordable interest rates.

Free Homeownership Advisors

Talking one-on-one with a FREE non-biased, non-profit housing expert can provide that extra boost of confidence you need to become a successful homebuyer. We’ll connect you with a Homeownership Advisor and specialized workshops for first-time buyers to make sure that YOUR questions get answered… and you have the tools and knowledge necessary to own your future!

Homebuyer Education

If you are a first time home buyer, the City of Minneapolis requires all first-time homebuyers (for this program or any of the City of Minneapolis’ assistance programs) to attend homebuyer education. Low-cost home buying workshops are available from Home Stretch or Framework in multiple languages. Counselors will work with home buyers to determine affordability, credit issues, and make lender referrals. More information

Financial Counseling

If you do not qualify for a mortgage loan and would like assistance to build or repair credit, manage debt and build a strong financial plan, contact financial counselors through Minnesota Housing or the Minnesota Homeownership Center.

More Information:
Own Your Future Own Your home call
651-659-9336

BuildWealth Minnesota, Inc.

http://www.buildwealthmn.org/

RENTAL INFORMATION

Metro HRA – www.WaitlistCheck.com/METRO

The Metro HRA will place 2,000 applicants on the waiting list through a random drawing from all applications received. Metro HRA will award 95% of waiting list placements to applicants who live, work or attend school full-time in the 7-county, Twin Cities metro area (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington Counties). The remaining 5% of waiting list placements will be awarded to any other applicant.

Minneapolis – www.WaitlistCheck.com/MPHA

The Minneapolis Public Housing Authority will place 2,000 applicants on the waiting list through a random drawing from all applications received. The housing authority will award 95% of waiting list placements to applicants who live, work, or attend school in Minneapolis. The remaining 5% of waiting list placements will be awarded to any other applicant. The residency preference does not have the purpose or effect of delaying or otherwise denying admission based on race, color, ethnic origin, gender, religion, disability, or age of any member of the applicant family.

St. Paul – www.WaitlistCheck.com/STPAUL

The St. Paul Public Housing Agency will place 3,500 applicants on the waiting list through a random drawing from all applications received. The housing agency will award 95% of waiting list placements to applicants whose head of household or spouse lives, works, or attends school in St. Paul, or to applicants who have been deemed “homeless” through Ramsey County’s Coordinated Entry System. The remaining 5% of waiting list placements will be awarded to any other applicant.

The Section 8 Housing Choice Voucher program provides rental assistance to households with very low incomes. In order to qualify, annual gross household income cannot exceed:

  • 1 person:    $35,000           
  • 2 persons:   $40,000
  • 3 persons:   $45,000
  • 4 persons:  $50,000
  • 5 persons:  $54,000
  • 6 persons:  $58,000
  • 7 persons:  $62,000
  • 8 persons:  $66,000

Are you familiar with HousingLink’s Housing Authority Waiting List (https://www.housinglink.org/SubsidizedHousing/HousingAuthorityWaitingList) that shows open waiting lists for Public Housing in the Twin Cities area? If a Section 8 Housing Choice Voucher waitlist opens, it will be listed here as well.

The National Low Income Housing Coalition’s 2019 Advocates’ Guide: A Primer on Federal Affordable Housing & Community Development Programs is now available to download free (452 pages) at:https://nlihc.org/explore-issues/publications-research/advocates-guide

               The Advocates’ Guide: A Primer on Federal Resources Related to Affordable Housing Programs and Community Development is, as the title suggests, a guide to affordable housing. But on many levels, it is much more than that. The guide comprises hundreds of pages of useful resources and practical know-how, written by leading experts in the affordable housing and community development field, with a singular purpose: to educate residents, advocates, and affordable housing providers of all kinds about the programs and policies that make housing affordable to low-income people across America.

Chapter 1: Introduction

Chapter 2: Advocacy Resources

Chapter 3: National Housing Trust Fund

Chapter 4: Rental Housing Programs for the Lowest Income Households

Chapter 5: Affordable Housing Programs

Chapter 6: Special Housing Issues

Chapter 7: Housing Tools

Chapter 8: Community Development Resources

Chapter 9: Income Programs and Laws

Chapter 10: About NLIHC

Chapter 11: Appendix

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