hey prescott.
See what you qualify for

Brooklyn Park Down Payment Assistance Loan

Brooklyn Park Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE) · Brooklyn Park, Minnesota

Last verified
See what you qualify forOfficial program site →
Assistance

$10,000

The maximum the program publishes — not an offer

Income limit

115% AMI

Of area median income; varies by county and household size

Price cap

$515,200

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 10 years

What is Brooklyn Park Down Payment Assistance Loan?

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

  • The City of Brooklyn Park EDA, through CEE, offers a 0% APR deferred forgivable loan for down payment and closing costs to first-time homebuyers purchasing a 1-4 unit owner-occupied home in Brooklyn Park. Amounts are up to $7,500 for those moving to Brooklyn Park and up to $10,000 for current residents, with no monthly payments. Fully forgiven after 10 years of continuous owner-occupancy.
  • 0% APR.
  • No monthly payments.
  • Deferred 10-year loan, fully forgiven.
  • For down payment and/or closing costs.
  • Funding comes from City of Brooklyn Park Economic Development Authority (EDA).

How much assistance does it provide?

Brooklyn Park Down Payment Assistance Loan offers up to $10,000 in assistance.

  • Award tiers: Up to $7,500 for borrowers moving to Brooklyn Park; up to $10,000 for current Brooklyn Park residents.
  • Buyer contribution: Borrower must contribute the lesser of $1,000 or 1% of the purchase price.
  • Amounts are the program's published maximums, not an offer — Brooklyn Park Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE) determines any individual award.

Do you have to pay it back?

Brooklyn Park Down Payment Assistance Loan is forgiven after 10 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by 100% due if property is sold, ownership transferred, or no longer primary residence within 10 years; also on refinance without consent or rental. Fully forgiven after 10 years of owner-occupancy.
  • The assistance is recorded in Second (subordinate to senior/first mortgage) position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Brooklyn Park Down Payment Assistance Loan 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: First-time homebuyer per HUD: no ownership interest in a principal residence within the last three years.
  • The home is occupied as a primary residence
  • On credit: Not specified by program; borrower must qualify for and meet first mortgage lender requirements.
  • A completed homebuyer education course, through Home Stretch workshop or HUD-approved counseling agency course; certificate dated within 12 months of closing (hocmn.org).
  • Residency: Property within City of Brooklyn Park; loan tier depends on current residency.
  • Citizenship or immigration status: All borrowers must be legal residents of the U.S. with a Social Security Number (citizens, permanent and non-permanent resident aliens). ITINs not acceptable; foreign nationals ineligible.
  • DRAFT (dpa-gap-finder 2026-06-12): pending review. Fully executed purchase agreement and application at least 4 weeks (28 days) before closing; DPA process completed within 28 days; HUD-approved homebuyer education certificate (within 12 months) for all borrowers; contribute lesser of $1,000 or 1% of purchase price; no cash to borrower; no more than 49% of residence used for trade/business.

The program excludes

  • Manufactured homes
  • Purchases above the $515,200 price cap
  • Households above 115% of area median income

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?

Brooklyn Park Down Payment Assistance Loan limits household income to 115% of the area median income, which varies by county and household size.

  • 115% of Area Median Income; income determined by Adjusted Gross Income from most recent tax return and household size.
  • 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?

Brooklyn Park Down Payment Assistance Loan caps the purchase price at $515,200.

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

Where does it apply?

Brooklyn Park Down Payment Assistance Loan serves buyers purchasing in Brooklyn Park, Minnesota.

How do you apply?

Applications for Brooklyn Park Down Payment Assistance Loan go through Brooklyn Park 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. Take a homebuyer education course

    Required by the program, through Home Stretch workshop or HUD-approved counseling agency course; certificate dated within 12 months of closing (hocmn.org)..

  2. Contact Brooklyn Park Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE) to reserve funds

    Funds are reserved through CEE issues Conditional Commitment within 10 business days; DPA process completed within 28 days; application at least 4 weeks before closing., 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.

Learn this program

Short reads on how it works, in plain language. Free, no sign-up needed to read.

Free course from Hey Prescott

Brooklyn Park Down Payment Assistance Loan, explained

A short, free course on Brooklyn Park Down Payment Assistance Loan: what it is, who it is for, how it is forgiven, where it applies and how to apply. Based on program data from July 2026. About ten minutes.

5 modules · About 10 minutes

Read the course

90-second match

Not sure which you qualify for?

Answer 9 questions and we'll match you to every program you can actually use — in about 90 seconds. No SSN, no credit pull.

Find my programs