Minnetonka Economic Development Authority (EDA); administered by Center for Energy and Environment (CEE)
Up to $75,000 toward a down payment in MN.
A 0% fixed-rate deferred, forgivable second-mortgage loan from the City of Minnetonka and its EDA (administered by CEE) providing down payment and closing cost assistance to first-time homebuyers (no homeownership in the past 7 years) purchasing a primary residence in Minnetonka. Assistance is tiered by household AMI band (10%-25% of purchase price, up to $50,000-$75,000). Forgives 5% per year and is 100% forgiven after 20 years of continuous 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 Minnetonka Pathways to Homeownership Program: what it is, who it is for, how it is forgiven, 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.