Near North/Willard-Hay Homebuyer Entry Cost Assistance

What is Near North/Willard-Hay Homebuyer Entry Cost Assistance?

Near North/Willard-Hay Homebuyer Entry Cost Assistance is a deferred second loan for homebuyers in Minneapolis, Minnesota.

• Near North/Willard-Hay Homebuyer Entry Cost Assistance is a neighborhood-targeted DPA loan administered by NeighborWorks Home Partners in partnership with the Northside Residents Redevelopment Council (NRRC). Up to $10,000 as a 0% interest deferred second-mortgage loan supports first-time buyers purchasing in the Near North or Willard-Hay neighborhoods of North Minneapolis. Funded jointly by NRRC and the City of Minneapolis CPED. Repayable on early exit (sale, refinance with cash-out, transfer, or loss of owner-occupancy). Reported out of funds as of late 2023; verify status with NWHP.
• Up to $10,000 in down payment and closing-cost assistance as a 0% interest deferred second-mortgage loan, available for buyers purchasing in the Near North or Willard-Hay neighborhoods of North Minneapolis. Funds may be used for down payment, closing costs, or principal reduction to reach an affordable monthly payment. Note: per April 2026 NWHP page, program reported out of funds since 11/3/2023.
• check funding status before applying.
• Funding comes from Local Government, CPED, NRRC, and HRA.

How much assistance does it provide?

Near North/Willard-Hay Homebuyer Entry Cost Assistance offers up to $10,000 in assistance.

• 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?

Near North/Willard-Hay Homebuyer Entry Cost Assistance is forgiven after 7 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Due in full at sale, transfer of title, refinance with cash-out, or loss of owner-occupancy.
• 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?

Near North/Willard-Hay Homebuyer Entry Cost Assistance is open to buyers who will live in the home as their primary residence.

What are the income limits?

Near North/Willard-Hay Homebuyer Entry Cost Assistance sets its income limit as follows: Income limits per Minneapolis CPED / NRRC guidelines; typically aligned with 80% HUD AMI for Minneapolis-St. Paul-Bloomington MSA.

• 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?

Near North/Willard-Hay Homebuyer Entry Cost Assistance caps the purchase price as follows: No fixed program cap; subject to first-mortgage product limits.

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

Where does it apply?

Near North/Willard-Hay Homebuyer Entry Cost Assistance serves buyers purchasing in Minneapolis, Minnesota.

• The program targets specific areas: Near North and Willard-Hay neighborhoods of North Minneapolis (Hennepin County), MN.

How do you apply?

Applications for Near North/Willard-Hay Homebuyer Entry Cost Assistance go through the administering agency, 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 Minnesota Homeownership Center / Framework / HUD-approved counseling agency..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through First-come, first-served via NWHP intake; 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.