See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated May 4, 2026
Homebuyer Programs in Edina, MN (2026)
Edina is an upscale southwest Minneapolis suburb of about 53,000 residents in Hennepin County, with a median home price near 8,000 — among the highest in the metro. The city's longtime Come Home 2 Edina 2nd Mortgage Program (up to ,000) was suspended on January 31, 2025, when funds ran out, and has not reopened. To fill the gap, the Edina HRA approved a new Heroes Down Payment Assistance Program in November 2025, providing up to 0,000 (25% of purchase price) for buyers who work in Edina in healthcare, education, or as public employees, plus an additional ,000 forgivable loan for first-generation buyers. Edina buyers can 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 options like Homes Within Reach Community Land Trust (Edina is a partner community), Twin Cities Habitat, Welcome Home DPA, and Community Keys Plus, plus federal programs like FHA and VA. Note: Edina is excluded from the Hennepin County HRA program.
City Programs in Edina
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Come Home 2 Edina 2nd Mortgage Program | Deferred Loan | Up to ,000 (25% of purchase price); additional ,000 forgivable loan for first-generation buyers | Yes | View → |
| Edina Heroes Down Payment Assistance Program | Deferred Loan | Up to 0,000 (25% of purchase price); additional ,000 forgivable loan for first-generation buyers | No | View → |
- Type:
- Deferred Loan
- Amount:
- Up to ,000 (25% of purchase price); additional ,000 forgivable loan for first-generation buyers
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to 0,000 (25% of purchase price); additional ,000 forgivable loan for first-generation buyers
- First-time only:
- No
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 |
|---|---|---|---|---|
| Community Keys Plus Impact Down Payment Assistance | Deferred Loan | Up to ,000 | 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
- Amount:
- Up to ,000
- 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
Confirm your eligibility. The Heroes Program requires that you work within the City of Edina in qualifying healthcare, education, or public employee roles AND are buying a home in Edina. The first-generation portion adds an attestation that your parents have not previously owned a home.
Complete a HUD-approved homebuyer education course before closing. Home Stretch (in person) or Framework (online) both qualify for state Minnesota Housing programs.
Apply through the Edina Housing Foundation for the Heroes Program. Visit edinamn.gov/2182/Heroes-Program for details and contact information. Plan to bring at least ,000 of your own money toward down payment, closing costs, or prepaid expenses.
Get pre-approved with a Minnesota Housing approved lender. Use the lender directory at mnhousing.gov to layer the Start Up first mortgage with the Deferred Payment Loan or Monthly Payment Loan.
Find a home located within the City of Edina. Given the high median price, plan carefully — even with substantial assistance, monthly carrying costs can be significant in this market.
If you are open to a Community Land Trust home, contact Homes Within Reach to explore Edina CLT properties. The CLT model removes land cost from the purchase price, often saving tens of thousands.
Submit your final application package and complete underwriting. Coordinate timing carefully between the Heroes Program funding and your first mortgage closing.
Close on your home and stay in it as your homestead.