Homeownership Opportunity Minneapolis
Potential Minneapolis homebuyers who participate in financial coaching can get an added benefit: up to $10,000 in the form of a 0% interest, due-on-sale loan for a down payment on a home. These loans have no monthly payments and are paid back after 30 years or when the house is sold.
Program Highlights
- Applicants must complete an approved financial wellness program a minimum of three months prior to entering into a purchase agreement on a home.
- Buyers must also attend homebuyer education. NeighborWorks Home Partners offers HomeStretch workshops that meet this requirement.
- Buyers must have an income below 80% of Area Median Income.
- Owner-occupied single family and duplex homes within Minneapolis city limits are eligible. This includes townhomes and condos.
- These funds cannot be layered with these other City of Minneapolis programs.
Read the complete guidelines here.
NeighborWorks Home Partners is an administrator of this program in partnership with the City of Minneapolis.
How to Get Started
Your loan officer will submit an application on your behalf. Please let them know you are interested in Minneapolis HOM Down Payment Assistance and refer them to this page.
