See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated May 5, 2026
Homebuyer Programs in Chanhassen, MN (2026)
Chanhassen is an affluent west-suburban Twin Cities community located primarily in Carver County (with a small portion extending into Hennepin County), about 15 miles southwest of Minneapolis, with a population of roughly 26,500 and a median home price near $560,000. Despite the higher price point, first-time buyers in Chanhassen have access to one of the most generous county-level DPA programs in Minnesota: the Carver County CDA Down Payment and Closing Cost Assistance Program offers up to 25% of the purchase price (capped at $50,000) as a forgivable second mortgage at 0% interest, with 5% of principal forgiven annually over 20 years. The Carver County Community Land Trust provides additional permanently affordable home options. Twin Cities Habitat for Humanity also serves Carver County through its TruePath Mortgage and homeownership program, and NeighborWorks Home Partners' Welcome Home Down Payment Assistance offers up to 30% of the purchase price (capped at $50,000) as a zero-interest forgivable loan over ten years. Combined with state programs from Minnesota Housing, eligible Chanhassen buyers can stack up to $50,000+ in down payment and closing cost help.
County Programs in Carver County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Carver County CDA Down Payment and Closing Cost Assistance Program | Forgivable Loan | Up to 25% of purchase price, not to exceed $50,000 | Yes | View → |
| Carver County Community Land Trust | Deferred Loan | Subsidized purchase price on permanently affordable CLT homes; subsidy varies by home and household | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to 25% of purchase price, not to exceed $50,000
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Subsidized purchase price on permanently affordable CLT homes; subsidy varies by home and household
- First-time only:
- Yes
State Programs in Minnesota
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Minnesota First-Generation Homebuyer Loan Program | Deferred Loan | Up to ,000 | Yes | View → |
| Minnesota Housing Deferred Payment Loan | Deferred Loan | Up to ,500 | Yes | View → |
| Minnesota Housing Monthly Payment Loan | Repayable Loan | Up to ,000 | No | View → |
| Minnesota Housing Start Up Program | Government-Insured Mortgage | First mortgage with as little as 3% down | Yes | View → |
| Minnesota Housing Step Up Program | Government-Insured Mortgage | First mortgage; can also be used to refinance | No | View → |
- Type:
- Deferred Loan
- Amount:
- Up to ,000
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to ,500
- First-time only:
- Yes
- Type:
- Repayable Loan
- Amount:
- Up to ,000
- First-time only:
- No
- Type:
- Government-Insured Mortgage
- Amount:
- First mortgage with as little as 3% down
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- First mortgage; can also be used to refinance
- First-time only:
- No
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Twin Cities Habitat for Humanity Homeownership Program | Repayable Loan | Affordable mortgage with monthly payments at or below 30% of household income; option to use TruePath Mortgage on the open market or purchase a Habitat-built or Habitat-renovated home | No | View → |
| Welcome Home Down Payment Assistance | Forgivable Loan | Varies by household need | Yes | View → |
- Type:
- Repayable Loan
- Amount:
- Affordable mortgage with monthly payments at or below 30% of household income; option to use TruePath Mortgage on the open market or purchase a Habitat-built or Habitat-renovated home
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Varies by household need
- First-time only:
- Yes
How to Apply
Check your eligibility. The Carver County CDA program requires first-time homebuyer status (no homeownership in the past three years), household income at or below 100% AMI (currently $132,400), liquid assets under $50,000 after closing, and a purchase price at or below $415,000.
Complete homebuyer education. Approved Home Stretch courses are available through nonprofit partners across the Twin Cities Metro. Carver County CDA can refer you to approved providers; call Melodie Bridgeman at 952-556-2778 for guidance.
Contact Melodie Bridgeman at the Carver County CDA at 952-556-2778 or melodieb@carvercda.org to confirm current funding availability and start your application. Note
Get pre-approved for a mortgage with a Minnesota Housing-approved lender. Ask about pairing the Carver County CDA assistance with Minnesota Housing first mortgage products and additional state DPA loans.
Find a home in Chanhassen within Carver County CDA price limits ($415,000 cap). For higher-priced homes outside CDA limits, ask about NeighborWorks Home Partners' Welcome Home program (up to 30% / $50,000 cap) and Twin Cities Habitat's TruePath Mortgage.
Submit your applications and close on your home as your primary residence. Most programs require ongoing primary residency for the life of the assistance loan.