Home-Buyer Programs and Assistance

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Being able to save enough money for a down payment and closing costs can be very difficult for many people, especially with the increasing cost of goods and services. But the great news is that many of our City, County, and State Government offices provide financial assistance to people in their communities who are ready for that dream of home-ownership and are qualified (requirements will vary). If you are eligible, you could receive down payment and/or closing costs assistance up to $18,000 depending on your needs, qualifications, and where the home is located. 

Below are just a few down payment assistance programs that you may qualify for.

City of Brooklyn Center Home Buyer Assistance Program:

* up to $10,000 available! 

To qualify, you must

1. Be considered a first time home buyer
2. Meet income qualification limits
3. Be currently in 1 of the following categories:

• Be a current Brooklyn Center resident
• Has a child that attends a school in Brooklyn Center
• Works in Brooklyn Center
• Owns a business in Brooklyn Center

             See Information

Minnesota Housing Finance Agency (Statewide):

                    1. The Start Up Program

This program is for first-time homebuyers who haven't had any ownership interest in a principal residence in the last three years., if you’ve never owned a home before, or it's been over three years since you've been a homeowner. 

See guidelines:

• Income limits 
• Down-payment and Closing Cost Loan options – up to $18,000 available! 
• Minimum credit score  
• Owner-occupancy requirement 
• Purchase price limits 
• Complete an approved homebuyers education course

                  2. The Step Up Program

This program is not for a first-time homebuyer OR  for a first-time homebuyer who exceeds the income and purchase limits for the Start Up Program.

See guidelines: 

• Income limits
• Down-payment and Closing Cost Loan options – up to $18,000 available! 
•  Minimum credit score
• Owner-occupancy requirement 
• Purchase price limits
• Complete an approved homebuyers education course (if all borrowers are first-time homebuyers)

Neighborhood Assistance Corporation of America (NACA): 

NACA has their own affordable mortgage product with great benefits:

• No down-payment
• No closing costs
• No mortgage insurance
• Below market rates (30, 20, or 15 year fixed loans)
• No hidden fees

             Find out more

**Home-buyer education counseling may be required for these assistance programs (cost varies)**

Minnesota Homeownership Center:  Statewide list of Home Stretch workshops and HUD-approved housing counseling agencies. 

CLICK HERE  to see what other assistance you may be eligible for.