Blaine Down Payment Assistance Loan

What is Blaine Down Payment Assistance Loan?

Blaine Down Payment Assistance Loan is a forgivable loan for homebuyers in Blaine, Minnesota, administered by City of Blaine Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE).

• The City of Blaine EDA, through CEE, offers a 0% interest deferred forgivable loan for down payment and closing costs to first-time homebuyers purchasing a 1-4 unit owner-occupied home in Blaine (Anoka County). Loans are up to $10,000 for current Blaine residents or people employed in Blaine, and up to $5,000 for all others. Forgiven after 30 years of continuous owner-occupancy; 100% due on sale, transfer, or loss of owner-occupancy before then.
• 0% APR.
• No monthly payments.
• Deferred 30 years, fully forgivable.
• No prepayment penalty.
• Larger amount for local residents/employees.
• Funding comes from City of Blaine Economic Development Authority (local funds).

How much assistance does it provide?

Blaine Down Payment Assistance Loan offers between $5,000 and $10,000 in assistance.

• Award tiers: Up to $10,000 for current Blaine residents or persons employed in Blaine; up to $5,000 for all others.
• Buyer contribution: Borrower must contribute at least 1% of the purchase price with their own funds.
• The program can be combined with Intended to supplement MHFA, CEE, private lender first-mortgage programs.
• Amounts are the program's published maximums, not an offer — City of Blaine Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE) determines any individual award.

Do you have to pay it back?

Blaine Down Payment Assistance Loan is forgiven after 30 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by 100% due if borrower sells, transfers title, or property is no longer primary residence before 30-year maturity; fully forgiven at 30 years.
• The assistance is recorded in Second mortgage (subordinate to first) position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Blaine Down Payment Assistance Loan is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Blaine Down Payment Assistance Loan limits household income to 90% of the area median income, which varies by county and household size.

• Household income must not exceed 90% of Area Median Income based on household size and adjusted gross income from the most recent tax return.
• 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?

Blaine Down Payment Assistance Loan caps the purchase price at $450,000.

• Eligible property types include Single Family, 2-4 Unit, Townhouse, Twinhome, and Condo.
• Manufactured homes are not eligible.

Where does it apply?

Blaine Down Payment Assistance Loan serves buyers purchasing in Blaine, Minnesota.

How do you apply?

Applications for Blaine Down Payment Assistance Loan go through City of Blaine Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Home Stretch workshop or a HUD-approved counseling agency course (e.g., via hocmn.org); certificate required prior to closing..

2. 2

   Contact City of Blaine Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE) to reserve funds

   Funds are reserved through Application via CEE through first-mortgage lender; signed purchase agreement and application at least four weeks before closing; subject to fund availability., and are subject to availability.

3. 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.