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Minneapolis Homes: Access Down Payment Assistance

Minneapolis, Minnesota

Last verified
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Assistance

$20,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 30 years

What is Minneapolis Homes: Access Down Payment Assistance?

Minneapolis Homes: Access Down Payment Assistance is a deferred second loan for homebuyers in Minneapolis, Minnesota.

  • Minneapolis Homes: Access Down Payment Assistance is the City of Minneapolis CPED's primary income-tiered DPA program, administered by NeighborWorks Home Partners. The 0% interest deferred second-mortgage loan provides up to $40,000 (50% AMI tier) or up to $20,000 (51-80% AMI tier) for buyers purchasing in the City of Minneapolis. Funded by City of Minneapolis affordable housing trust funds and HUD HOME Consortium funds. Repayable at end of first-mortgage life, refinance with cash-out, transfer, or 30-year deferment - whichever occurs first. Mandatory homebuyer education plus 1:1 financial advising.
  • Up to $40,000 (50% AMI tier) or up to $20,000 (51-80% AMI tier) as a 0% interest deferred second-mortgage loan with no monthly payment. Loan is repayable at the end of the life of the first mortgage, refinance with cash-out, transfer of title, or end of 30-year deferment period. Applies to homes purchased within City of Minneapolis. Requires homebuyer education certificate and 1:1 financial wellness advising prior to purchase agreement.
  • Funding comes from HOME, Local Government, and CPED.

How much assistance does it provide?

Minneapolis Homes: Access Down Payment Assistance offers up to $20,000 in assistance.

  • Buyer contribution: Minimum buyer contribution per CPED guidelines.
  • 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?

Minneapolis Homes: Access Down Payment Assistance is forgiven after 30 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Due in full at end of first-mortgage life, refinance with cash-out, transfer of title, loss of owner-occupancy, or end of 30-year term.
  • The assistance is recorded in 2 position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Minneapolis Homes: Access Down Payment Assistance 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: Open to non-first-time buyers per Minneapolis Homes Access guidelines (with priority for first-time).
  • The home is occupied as a primary residence
  • On credit: Per first-mortgage lender; typically 620+
  • A completed homebuyer education course, through Minnesota Homeownership Center / Framework, plus mandatory 1:1 financial wellness advising session through NWHP or partner agency.
  • Residency: Property must be located in City of Minneapolis and used as borrower's principal residence.
  • Citizenship or immigration status: U.S. citizen or qualified non-citizen per HUD HOME rules
  • Property must be within City of Minneapolis. Income tiered: 50% AMI receives larger assistance, 51-80% AMI receives smaller. Income at or below 80% HUD AMI: 1-person ~$52,150 (50% AMI) to 8-person ~$129,100 (80% AMI). Required: homebuyer education certificate AND 1:1 financial wellness advising session prior to executing purchase agreement. Owner-occupancy.

The program excludes

  • Manufactured homes
  • Households above 80% 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?

Minneapolis Homes: Access Down Payment Assistance limits household income to 80% of the area median income, which varies by county and household size.

  • Household income at or below 80% HUD AMI for Minneapolis-St. Paul-Bloomington MSA. 50% AMI tier and 51-80% AMI tier each have separate caps. Range: 1-person $52,150 (50% AMI) to 8-person $129,100 (80% AMI) FY2025.
  • The limit applies to total household income, not only the borrower’s.
  • The program lists a maximum household size of 8.
  • 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?

Minneapolis Homes: Access Down Payment Assistance caps the purchase price as follows: Subject to City of Minneapolis CPED Minneapolis Homes maximum acquisition cost.

  • Eligible property types include Single-family detached, Duplex, Triplex, Fourplex, Townhome, and Condominium.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Minneapolis Homes: Access Down Payment Assistance serves buyers purchasing in Minneapolis, Minnesota.

How do you apply?

Applications for Minneapolis Homes: Access Down Payment Assistance 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 Minnesota Homeownership Center / Framework, plus mandatory 1:1 financial wellness advising session through NWHP or partner agency..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Reservation through NWHP via approved lender; subject to fund availability., 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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