Growing Affordable, Inclusive Neighborhoods (GAIN) in Olmsted County

What is Growing Affordable, Inclusive Neighborhoods (GAIN) in Olmsted County?

Growing Affordable, Inclusive Neighborhoods (GAIN) in Olmsted County is a forgivable loan for homebuyers in Rochester, Minnesota, administered by Olmsted County Housing & Redevelopment Authority (OCHRA) / Olmsted County Housing Department.

• GAIN, administered by the Olmsted County HRA and funded with $5 million in federal ARPA dollars, provides qualifying buyers a $10,000 down-payment assistance loan at 0% interest, forgivable incrementally over the first five years, for the construction or purchase of an affordable new home in Olmsted County. Households must earn at or below 80% of HUD AMI. Applicants need not be first-time homebuyers; homes must be owner-occupied homesteaded residences. The program was revised in 2024 to also incentivize affordable home construction by developers (homes under $350,000).
• $10,000 forgivable DPA loan.
• 0% interest.
• Forgiven over five years.
• Stackable with other DPA and community land trust programs.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from $5 million in Olmsted County ARPA (American Rescue Plan Act) federal funds (approved Nov. 2, 2021).

How much assistance does it provide?

Growing Affordable, Inclusive Neighborhoods (GAIN) in Olmsted County offers up to $10,000 in assistance.

• The program can be combined with Designed to be matched with other DPA programs and the First Homes community land trust.
• Amounts are the program's published maximums, not an offer — Olmsted County Housing & Redevelopment Authority (OCHRA) / Olmsted County Housing Department determines any individual award.

Do you have to pay it back?

Growing Affordable, Inclusive Neighborhoods (GAIN) in Olmsted County is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Forgiven incrementally over the first five years; balance generally repayable if owner-occupancy/homestead status ends (sale or transfer) before forgiveness completes.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Growing Affordable, Inclusive Neighborhoods (GAIN) in Olmsted County is open to buyers who will live in the home as their primary residence.

What are the income limits?

Growing Affordable, Inclusive Neighborhoods (GAIN) in Olmsted County limits household income to 80% of the area median income, which varies by county and household size.

• Gross annual household income less than 80% of AMI (HUD, by household size). 2025 80% AMI (eff. 04-01-2025): 1p $70,350; 2p $80,400; 3p $90,450; 4p $100,500; 5p $108,550; 6p $116,600; 7p $124,650; 8p $132,700. Original ARPA criteria also allowed qualification via HUD qualified census tract or COVID-impacted-industry employment.
• 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?

Growing Affordable, Inclusive Neighborhoods (GAIN) in Olmsted County caps the purchase price at $350,000.

• Eligible property types include Single Family, Townhouse, Condo, Duplex, Modular, and Manufactured.
• New construction is eligible.
• Manufactured homes are eligible.

Where does it apply?

Growing Affordable, Inclusive Neighborhoods (GAIN) in Olmsted County is a federal program, so it is not limited to Minnesota.

• The program targets specific areas: Original 2021 ARPA criteria allowed qualification via HUD-defined qualified census tract; revised program targets blighted/blighting areas.

How do you apply?

Applications for Growing Affordable, Inclusive Neighborhoods (GAIN) in Olmsted County go through Olmsted County Housing & Redevelopment Authority (OCHRA) / Olmsted County Housing Department, which publishes the current terms and the application steps on its own site.

1. 1

   Contact Olmsted County Housing & Redevelopment Authority (OCHRA) / Olmsted County Housing Department to reserve funds

   Funds are reserved through Application led by builder or applicant; buyer applies once they have a signed contract with a builder or executed purchase agreement for new construction; funds allocated directly to the builder at closing., and are subject to availability.

2. 2

   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.