Minneapolis Neighborhood First Time Home Buyer Programs

There are several programs and grant monies available for specific neighborhoods in Minneapolis.

Minneapolis Advantage

( Out of Funds )

The Minneapolis Advantage loan program is a down payment and closing cost assistance program to help rebuild the housing market in key neighborhoods that have experienced mortgage foreclosures.  The program offers a $10,000 zero-percent interest rate loan that is forgivable over five years to anyone buying a foreclosed, vacant or short-sale single family home in eligible neighborhoods (no Townhomes or Condos). 

Those neighborhoods are Beltrami, Central, Cleveland, East Phillips, Folwell, Harrison, Hawthorne, Holland, Jordan, McKinley, Midtown Phillips, Near North, Phillips West, Powderhorn Park, Ventura Village, Webber-Camden, Whittier, and Willard-Hay.  Additional assistance offered up to $4,000 through individual neighborhood associations may be available to homebuyers purchasing homes in Harrison, McKinley, Folwell and Webber-Camden.

First Time Home Buyer Grants Available in Minneapolis

The following programs also offer monetary assistance to first time home buyers:

  • Cedar-Riverside - Homebuyer's Assistance Loan and Grant Program ($2,000 to $15,000 at 0% interest)

  • Cedar-Riverside - University District Partnership Alliance  (Up to $10,000)

  • Folwell - Minneapolis Folwell Neighborhood Association’s First Time Home Assistance Program (up to $4,000)

  • Harrison - Entry Cost Assistance Deferred Loan ( up to $4,000 3% interest )

  • Harrison - Purchase/Rehab Subsidy Deferred Loans ($5,000 to $15,000 at 2% )

  • Hawthorne - Hawthorne Advantage Program (Up to $4,000 for non-foreclosure home, $5,000 for foreclosure home )

  • Jordan - Jordan Advantage (Up To $5,000 )

  • Lyndale - Home Buyers Assistance Program (HAP) (Up To $3,000)

  • Lyndale - Minneapolis Lyndale Neighborhood Homebuyer Assistance Program (up to $2,500)

  • Marcy Holmes - University District Partnership Alliance  (Up to $10,000)

  • McKinley - Homebuyer Assistance Program (Up to $4,000)

  • Near North & Willard Hay - Down Payment Assistance Deferred Loans (up to $5,000 at 2%)

  • Phillips -  Minneapolis Phillips Partnership Down Payment Assistance Program ( up to $10,000)

  • Sheridan - Homebuyer Assistance Program (Up to $5,000)

  • Southeast Como - University District Partnership Alliance  (Up to $10,000)

  • Ventura Village - Ventura Village Homebuyer Program (Up To $5,000)

  • Webber-Camden Homebuyer Assistance Program ( Up To $4,000)

  • Zip Codes 55411 and 55412 - Pohlad Foundation (up to $8,000 – don’t have to be a First Time Home Buyer)

Buying your first home can be overwhelming. Let us help!  We are committed to finding you any grant monies or assistance programs available to you.  Our buyer agent services are FREE!  Please contact us for more information.  We have assisted hundreds of first time home buyers and look forward to the opportunity to assist you!  


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