See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated May 4, 2026
Homebuyer Programs in Eden Prairie, MN (2026)
Eden Prairie is a southwest Minneapolis suburb of about 63,000 residents in Hennepin County, consistently ranked among the best places to live in America. With a median home price near 2,000, it is one of the higher-cost markets in the metro, which makes layered assistance especially valuable. Eden Prairie runs two of its own programs: the long-standing First-Time Homebuyer Program providing up to ,000 as a zero-interest deferred loan, and a newer First-Time/First-Generation Homebuyer Program offering ,000 to ,000 for buyers whose parents have never owned. Buyers can also tap the Homes Within Reach Community Land Trust, which actively serves Eden Prairie. Layer in state programs (Start Up first mortgage, Deferred Payment Loan up to ,500, Monthly Payment Loan up to ,000, First-Generation Loan up to ,000), nonprofit support from Twin Cities Habitat, Welcome Home DPA, and Community Keys Plus, and federal mortgage options like FHA and VA, and Eden Prairie buyers can access meaningful stacked assistance. Note: Eden Prairie is excluded from the Hennepin County HRA Homebuyer Assistance Program because the city runs its own.
City Programs in Eden Prairie
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Eden Prairie First-Time Homebuyer Program | Deferred Loan | — | Yes | View → |
| Eden Prairie First-Time/First-Generation Homebuyer Program | Deferred Loan | — | Yes | View → |
- Type:
- Deferred Loan
- First-time only:
- Yes
- Type:
- Deferred Loan
- First-time only:
- Yes
State Programs in Minnesota
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Minnesota First-Generation Homebuyer Loan Program | Deferred Loan | — | Yes | View → |
| Minnesota Housing Deferred Payment Loan | Deferred Loan | — | Yes | View → |
| Minnesota Housing Monthly Payment Loan | Repayable Loan | — | 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
- First-time only:
- Yes
- Type:
- Deferred Loan
- First-time only:
- Yes
- Type:
- Repayable Loan
- 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 → |
| 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:
- 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 |
|---|---|---|---|---|
| Community Keys Plus Impact Down Payment Assistance | Deferred Loan | — | No | View → |
| Homes Within Reach Community Land Trust | Deferred Loan | Subsidized purchase price; CLT removes the cost of land from the home price, typically saving tens of thousands per purchase | No | View → |
| 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:
- Deferred Loan
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Subsidized purchase price; CLT removes the cost of land from the home price, typically saving tens of thousands per purchase
- First-time only:
- No
- 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
Step 1: Confirm your eligibility. Both Eden Prairie programs require you to be a first-time homebuyer (no ownership in the past 3 years). The First-Generation program adds an attestation that your parents have not owned a home. Income limits track current CDBG limits and gross assets cannot exceed ,000 (excluding one car).
Step 2: Complete a homebuyer training course. The Community Action Partnership of Suburban Hennepin (CAPSH) offers the required course. Contact CAPSH directly to register before closing.
Step 3: Contact Eden Prairie Housing and Community Services at 952-949-8486 to start your city program application. Discuss whether the First-Time Homebuyer Program or the First-Time/First-Generation Program fits your situation.
Step 4: Get pre-approved with a Minnesota Housing approved lender. This positions you to layer the Start Up first mortgage with the Deferred Payment Loan or Monthly Payment Loan.
Step 5: Plan to bring at least ,000 of your own funds to closing — Eden Prairie requires a minimum buyer contribution of ,000 of personal money toward the purchase.
Step 6: Find a home located within the City of Eden Prairie. If you're open to a Community Land Trust home, contact Homes Within Reach to explore CLT options that lower your purchase price by removing land cost.
Step 7: Submit your final application package and complete underwriting. Plan for additional time to coordinate the city loan with your first mortgage closing.
Step 8: Close on your home and stay in it as your homestead — repayment is triggered if the home is sold or no longer homesteaded within 30 years.
Frequently Asked Questions
How much down payment assistance can I get in Eden Prairie?+−
Do I have to be a first-time homebuyer?+−
What is the maximum home price for Eden Prairie assistance?+−
What homebuyer education is required?+−
Is Eden Prairie eligible for the Hennepin County HRA program?+−
Can a Community Land Trust help me buy in Eden Prairie?+−
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