Brooklyn Center First Time Home Buyer Programs
Home Buyers Assistance Program
The Home Buyer Assistance Program offers up to $10,000 in down payment aid to eligible buyers. If the prospect of owning a home seems distant, the program will provide personalized, one-on-one assistance to set you on the journey to becoming a homeowner. This program includes: Assistance with down payments for individuals purchasing a home within the city limits. Individualized guidance to facilitate your path to homeownership.
To qualify, you must:
- Be classified as a first-time homebuyer.
- Meet income requirements.
Fall into one of the following categories:
- Reside in Brooklyn Center currently.
- Be employed within the City of Brooklyn Center.
- Own a business located in the City of Brooklyn Center.
- Have a child attending school in Brooklyn Center.
GMHC - Brooklyn Center Renew Buyer Incentive Program - Grant
The Greater Metropolitan Housing Corporation is offering a ReNew Grant to incentivize buyers to purchase in Brooklyn Center. The grant can cover up to 3.5% of the acquisition costs, no more than $7,000 — this can be used toward the down payment and the closing costs.
Qualified buyers need to be utilizing a FHA 203k Purchase Rehab loan or another approved rehab loan. The property in question needs to be foreclosed and officially registered as vacant. There are also income limits, with 1-2 member households capped at $83,900 and three or more households capped at $96,485.
Summary:
- Property needs to be located in Brooklyn Center.
- Up to $7,000 in closing cost and down payment assistance.
- Must be utilizing a FHA 203k Purchase Rehab loan.
- Property must be foreclosed on.
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!
