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Advancing Black Homeownership Community Fund DPA Program

Multiple, Minnesota

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See what you qualify forOfficial program site →
Assistance

$45,000

The maximum the program publishes — not an offer

Income limit

$132,400

The household income limit the program publishes

Price cap

$659,550

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 5 years

What is Advancing Black Homeownership Community Fund DPA Program?

Advancing Black Homeownership Community Fund DPA Program is a deferred second loan for homebuyers in Multiple, Minnesota.

  • Race-targeted Special Purpose Credit Program (ECOA Reg B) for Foundational Black American first-time homebuyers in the 7-county Twin Cities metro. Up to ~$50,000 in flexible DPA, closing cost, rate-buydown, work order, warranty, and inspection assistance. Income $132,400 max combined. 580 FICO. Liquid assets $50,000 max post-close. Multi-month financial coaching required.
  • The Advancing Black Homeownership Community Fund (ABHCF) DPA Program is a Special Purpose Credit Program (SPCP) under ECOA Regulation B providing flexible down payment, closing cost, and ancillary purchase assistance to Foundational Black American first-time homebuyers in the 7-county Twin Cities metropolitan area. Program currently provides up to approximately $50,000 in flexible support per buyer (the $45,000 figure cited in the seed list reflects the standard Interest Form request cap.
  • total stack including interest-rate buydown, work orders, home warranty, and inspection fees can reach $50,000). Funds may be applied to: down payment and closing costs, principal and permanent first-mortgage interest-rate buydown, required repair / work orders, home warranty, and home inspection fees. Income limit: combined income of all buyers $132,400 or less. Liquid assets cap: $50,000 post-closing. Minimum credit score 580 with alternative credit assessments accepted.
  • lighter DTI overlays. First-time homebuyer required (no homeownership in prior 3 years for any borrower). Pre-purchase homebuyer education and one-on-one financial coaching with an ABHCF partner counselor required. Property must be primary residence in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, or Washington counties. Maximum purchase price aligned with MN Housing Twin Cities metro Start Up limit ($515,200 in lower-cost census tracts up to $659,550 in Twin Cities high-cost tracts). Program partners include Twin Cities Habitat for Humanity, Minnesota Homeownership Center, Build Wealth Minnesota, NeighborWorks Home Partners, and First Independence Bank.
  • Funding comes from Foundation, Philanthropic, and Private.

How much assistance does it provide?

Advancing Black Homeownership Community Fund DPA Program offers up to $45,000 in assistance.

  • Buyer contribution: No published minimum borrower contribution; borrower closing-cost contribution per first-mortgage lender overlay (typically 1% from own funds for FHA / Conv).
  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Advancing Black Homeownership Community Fund DPA Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Structured as a 0% interest deferred / forgivable second-position obligation (terms vary by partner-lender execution and some tranches are pure grants forgiven at closing, others are 0% deferred soft seconds due at sale/refinance/transfer). Per ABHCF, funds are designed to maximize buyer equity capture and minimize repayment burden.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Advancing Black Homeownership Community Fund DPA Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Strict 3-year FTHB lookback for ALL buyers and co-borrowers (no ownership of primary residence in prior 3 years). No published target-area waiver.
  • The home is occupied as a primary residence
  • On credit: 580 minimum FICO; alternative credit data (rent, utility, telecom payment history) accepted as compensating documentation. Lighter DTI overlays under SPCP framework.
  • A completed homebuyer education course, through ABHCF coalition counseling partners: Minnesota Homeownership Center, Twin Cities Habitat for Humanity, Build Wealth Minnesota (culturally-tailored 9-month Sankofa Squared financial coaching curriculum), NeighborWorks Home Partners, and HUD-approved Home Stretch / Framework counselors. Pre-purchase homebuyer education AND one-on-one financial coaching (multi-month engagement) required prior to fund release.
  • Residency: Primary buyer must currently reside in the 7-county Twin Cities metro (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, or Washington counties) at time of application. Property purchased must be located in the same 7-county metro and serve as borrower's primary residence within 60 days of closing.
  • Citizenship or immigration status: Primary buyer must be U.S.-born (per Foundational Black American definition - born in the United States to descendants of enslaved Africans in the U.S.). Co-borrowers may be U.S. citizen or qualifying lawful resident per first-mortgage product overlays.
  • RACE-RESTRICTED SPECIAL PURPOSE CREDIT PROGRAM (SPCP): At least one buyer (primary buyer) must self-identify as a Foundational Black American - a Black or African American Minnesotan who is a U.S.-born descendant of enslaved Africans in the United States. The program is structured as an ECOA Regulation B Special Purpose Credit Program permitting lawful race-targeted credit terms. Per /dpa skill convention there is no schema flag for race/ethnicity - the racial-targeting criterion is documented HERE in special_requirements. Other requirements: primary buyer must currently reside in the 7-county Twin Cities metro (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, Washington); all buyers must be first-time homebuyers (no ownership in prior 3 years); combined income $132,400 or less; liquid assets at completion of closing $50,000 or less; 580 minimum FICO with alternative credit accepted; pre-purchase education AND multi-month one-on-one financial coaching required; pre-approval for fixed-rate first mortgage required before submitting Interest Form; property must be primary residence within the 7-county metro.

The program excludes

  • Manufactured homes
  • Purchases above the $659,550 price cap
  • Households above $132,400

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Advancing Black Homeownership Community Fund DPA Program limits household income to $132,400.

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Advancing Black Homeownership Community Fund DPA Program caps the purchase price at $659,550.

  • Eligible property types include Single-family detached, condominium (project-approved), townhouse, PUD, 2-4 unit owner-occupied (1-unit owner-occupied required), Habitat-built homes. Property must be in 7-county Twin Cities metro.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Is there eligibility for specific groups?

Advancing Black Homeownership Community Fund DPA Program names active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Advancing Black Homeownership Community Fund DPA Program serves buyers purchasing in Multiple, Minnesota.

How do you apply?

Applications for Advancing Black Homeownership Community Fund DPA Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through ABHCF coalition counseling partners: Minnesota Homeownership Center, Twin Cities Habitat for Humanity, Build Wealth Minnesota (culturally-tailored 9-month Sankofa Squared financial coaching curriculum), NeighborWorks Home Partners, and HUD-approved Home Stretch / Framework counselors. Pre-purchase homebuyer education AND one-on-one financial coaching (multi-month engagement) required prior to fund release..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Application via online Interest Form on abhfund.org. Coalition reviews eligibility and routes applicant to assigned counseling and lender partners. Fund disbursement at closing via partner lender / Habitat / NeighborWorks closing agent., and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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