The City of Eden Prairie First-Time Homebuyer Program offers a 0% interest deferred second mortgage of up to $25,000 (with a $35,000 cap across all city homebuyer assistance) to income-qualified first-time buyers purchasing within Eden Prairie city limits. Funded through the City's Housing and Community Services division using CDBG and pooled HRA/affordable housing trust funds, the program covers up to 50% of required down payment, up to 100% of closing costs (max $5,000), and up to 10% of purchase price toward mortgage principal reduction (max $10,000). The loan is fully deferred and repayable on sale, transfer, refinance with cash-out, or loss of owner-occupancy.
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 First-Time Homebuyer Program: what it is, who it is for, when it is repaid, where it applies and how to apply. Based on program data from July 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.