hey prescott.
See what you qualify for

First-Time Homebuyer Grant Program

Shakopee, Minnesota

Last verified
See what you qualify forOfficial program site →
Assistance

$8,000

The maximum the program publishes — not an offer

Income limit

$142,800

The household income limit the program publishes

Price cap

$405,000

Highest purchase price the program allows

Repayment

Grant

Not repaid

What is First-Time Homebuyer Grant Program?

First-Time Homebuyer Grant Program is a grant for homebuyers in Shakopee, Minnesota.

  • Scott County CDA non-repayable grant. Up to $10,000. Max PP $405,000. Income $124,200-$142,800. 640 FICO. FTHB required.
  • The Scott County Community Development Agency (CDA) First-Time Homebuyer Grant Program provides up to $10,000 in NON-REPAYABLE GRANT down payment and closing-cost assistance to first-time homebuyers purchasing a primary residence within Scott County, Minnesota (Shakopee, Savage, Prior Lake, New Prague, Belle Plaine, Jordan, and unincorporated areas). Funded through Scott County CDA local levy and Scott County HRA contributions, the assistance is a true grant - no repayment, no forgiveness period, no compliance period. Maximum purchase price $405,000. Income up to $124,200 (1-2 person) - $142,800 (3+ person).
  • Funding comes from Local Government.

How much assistance does it provide?

First-Time Homebuyer Grant Program offers up to $8,000 in assistance.

  • The program asks buyers to contribute $1,000 minimum borrower contribution from own funds.
  • 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?

First-Time Homebuyer Grant Program is structured as a grant, so it is not repaid.

  • Repayment is triggered by NON-REPAYABLE GRANT. No repayment trigger - assistance is a true grant with no compliance period or forgiveness schedule.
  • The assistance is recorded in Grant - No 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?

First-Time Homebuyer Grant 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: FTHB requirement may be waived for qualifying veterans.
  • The home is occupied as a primary residence
  • On credit: 640 minimum FICO per first-mortgage product overlay.
  • A completed homebuyer education course, through NeighborWorks Home Partners or Three Rivers Community Action (HUD-approved) - pre-purchase 8-hour homebuyer education and one-on-one counseling required.
  • Residency: Property must be in Scott County, MN (Shakopee, Savage, Prior Lake, New Prague, Belle Plaine, Jordan, unincorporated areas).
  • Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays.
  • First-time homebuyer required (no ownership of a primary residence in the prior 3 years). Property must be located within Scott County, Minnesota. Maximum purchase price $405,000. Income up to $124,200 (1-2 person) - $142,800 (3+ person). Must complete HUD-approved homebuyer education. $1,000 minimum borrower contribution. NON-REPAYABLE GRANT - no forgiveness period or compliance period. Property must be primary residence within 60 days of closing.

The program excludes

  • Purchases above the $405,000 price cap
  • Households above $142,800

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?

First-Time Homebuyer Grant Program limits household income to $142,800.

  • 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?

First-Time Homebuyer Grant Program caps the purchase price at $405,000.

  • Eligible property types include Single-family detached, condominium (project-approved), townhouse, PUD, manufactured home (real-property-titled).
  • New construction is eligible.
  • Manufactured homes are eligible.

Where does it apply?

First-Time Homebuyer Grant Program serves buyers purchasing in Shakopee, Minnesota.

How do you apply?

Applications for First-Time Homebuyer Grant 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 NeighborWorks Home Partners or Three Rivers Community Action (HUD-approved) - pre-purchase 8-hour homebuyer education and one-on-one counseling required..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Application via Scott County CDA Homeownership Department., 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.

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