Minneapolis: Webber-Camden Down Payment Assistance Loan

Minneapolis: Webber-Camden Down Payment Assistance Loan is a forgivable loan for homebuyers in Minneapolis, Minnesota, administered by Center for Energy and Environment (CEE), on behalf of the City of Minneapolis. A neighborhood-specific down payment and closing cost assistance program for buyers purchasing a 1-4 unit owner-occupied property within the Webber-Camden neighborhood of Minneapolis. Administered by CEE using City of Minneapolis NRP funds, it provides a 0% APR deferred loan of up to $6,000 with a 5-year term. Forgiven after 5 years; 100% of principal due if the borrower sells, transfers title, ceases owner-occupancy, or refinances before the 5-year anniversary. No income limits. 0% APR. Up to $6,000. 5-year forgivable deferred loan (no payments). No income limits. Funding comes from Webber-Camden Neighborhood Revitalization Program (NRP) funds via the City of Minneapolis.

Minneapolis: Webber-Camden Down Payment Assistance Loan offers up to $6,000 in assistance. The program can be combined with First mortgage (operates as DP/closing cost assistance behind a first mortgage). Amounts are the program's published maximums, not an offer — Center for Energy and Environment (CEE), on behalf of the City of Minneapolis determines any individual award.

Minneapolis: Webber-Camden Down Payment Assistance Loan is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by 100% of original principal due if borrower sells, transfers title, the home is no longer the primary residence, or upon refinance prior to the 5-year anniversary. 100% forgiven after 5 years. The assistance is recorded in Second mortgage (mortgage in name of City of Minneapolis) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Minneapolis: Webber-Camden Down Payment Assistance Loan is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Loan approval subject to credit and program guidelines (no specific minimum stated). A homebuyer education course is required, through HUD-approved Homebuyer Course (all borrowers must attend). Citizenship or immigration status: All borrowers must be legal residents; Foreign Nationals and non-legal residents ineligible. Signed purchase agreement and application at least 4 weeks (28 days) before closing; all borrowers must be legal residents and complete a HUD-approved homebuyer education course; property within Webber-Camden boundaries and owner-occupied; one loan per property/borrower.

Minneapolis: Webber-Camden Down Payment Assistance Loan sets its income limit as follows: No income limits. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Minneapolis: Webber-Camden Down Payment Assistance Loan caps the purchase price as follows: Not specified; loan amount/approval determined based on the first-mortgage approval. Eligible property types include Single Family, 2-4 Unit, Condo, and Townhouse. Manufactured homes are not eligible.

Minneapolis: Webber-Camden Down Payment Assistance Loan serves homebuyers purchasing in Minneapolis, Minnesota. The program targets specific areas: Limited to properties within the Webber-Camden neighborhood of Minneapolis (a Neighborhood Revitalization Program area). Targeted neighborhoods: Webber-Camden neighborhood, Minneapolis.

Applications for Minneapolis: Webber-Camden Down Payment Assistance Loan go through Center for Energy and Environment (CEE), on behalf of the City of Minneapolis, which publishes the current terms and the application steps on its own site. Funds are reserved through Application via CEE at least 4 weeks (28 days) before closing with signed purchase agreement; Conditional Commitment within 10 business days. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.