City of New Ulm Economic Development Authority (EDA)
Up to $10,000 toward a down payment in MN.
The City of New Ulm EDA offers 0% interest, deferred-payment loans of 5% of the purchase price up to $10,000 to first-time homebuyers who live or work in New Ulm. Funds may be used for down payment and/or closing costs. The loan has a 10-year term with up to 5-year deferred payments and requires a fixed-rate first mortgage.
Short reads on how it works, in plain language. Free, no sign-up needed to read.
Free course from Hey Prescott
A short, free course on City of New Ulm Homebuyer Assistance Loan Program: what it is, who it is for, when it is repaid, where it applies and how to apply. Based on program data from August 2026. About ten minutes.
5 modules · About 10 minutes
Program details are sourced from public agency data and may change. Confirm eligibility with a Hey Prescott loan officer before applying.