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By Tyler Thompson · Licensed Real Estate Agent · Updated May 4, 2026

Homebuyer Programs in Edina, MN (2026)

Population: 53,262 | Median home price: $788,000 | Est. closing costs: ,000 - ,500

Skyline of Edina, MN

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

Come Home 2 Edina 2nd Mortgage Program
Type:
Deferred Loan
First-time only:
Yes
Edina Heroes Down Payment Assistance Program
Type:
Deferred Loan
First-time only:
No

State Programs in Minnesota

Minnesota First-Generation Homebuyer Loan Program
Type:
Deferred Loan
First-time only:
Yes
Minnesota Housing Deferred Payment Loan
Type:
Deferred Loan
First-time only:
Yes
Minnesota Housing Monthly Payment Loan
Type:
Repayable Loan
First-time only:
No
Minnesota Housing Start Up Program
Type:
Government-Insured Mortgage
Amount:
First mortgage with as little as 3% down
First-time only:
Yes
Minnesota Housing Step Up Program
Type:
Government-Insured Mortgage
Amount:
First mortgage; can also be used to refinance
First-time only:
No

Federal Programs

FHA Loans
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
Good Neighbor Next Door (HUD)
Type:
Government Property Sale Program
Amount:
50% discount off the list price of HUD-owned homes
First-time only:
Yes
Home Possible Mortgage (Freddie Mac)
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
HomeReady Mortgage (Fannie Mae)
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
HUD $100 Down Program
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
USDA Rural Development Loans
Type:
Government-Guaranteed Mortgage
Amount:
100% financing (no down payment required); loan amount up to appraised value
First-time only:
No
VA Loans
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

Community Keys Plus Impact Down Payment Assistance
Type:
Deferred Loan
First-time only:
No
Homes Within Reach Community Land Trust
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
Twin Cities Habitat for Humanity Homeownership Program
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
Welcome Home Down Payment Assistance
Type:
Forgivable Loan
Amount:
Varies by household need
First-time only:
Yes

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18 programs available in Edina. See which ones you qualify for.

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How to Apply

Step 1: 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.

Step 2: Complete a HUD-approved homebuyer education course before closing. Home Stretch (in person) or Framework (online) both qualify for state Minnesota Housing programs.

Step 3: 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.

Step 4: 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.

Step 5: 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.

Step 6: 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.

Step 7: Submit your final application package and complete underwriting. Coordinate timing carefully between the Heroes Program funding and your first mortgage closing.

Step 8: Close on your home and stay in it as your homestead.

Frequently Asked Questions

How much down payment assistance can I get in Edina?+
The Edina Heroes Program offers up to 0,000 (25% of purchase price) for qualifying workers, plus a ,000 forgivable loan for first-generation buyers. Add the Minnesota Housing Deferred Payment Loan (up to ,500), Monthly Payment Loan (up to ,000), or First-Generation Loan (up to ,000), and stacked assistance can be substantial — though Edina's high home prices still require strong personal financial readiness.
Is the Come Home 2 Edina program still available?+
No. The Come Home 2 Edina 2nd Mortgage Program was suspended on January 31, 2025, when funds ran out, and remains paused as of May 2026. There is no announced reopening date. The Heroes Program (launched November 2025) is the city's primary active option.
Who qualifies for the Edina Heroes Program?+
Heroes Program eligibility is tied to your job — not just residency. Eligible occupations include nurses, doctors, surgeons, specialists, technicians, and other healthcare workers; teachers, professors, school assistants, counselors, librarians, school food service, custodians, and administrators; and law enforcement, Fire Department staff, and other City of Edina public employees. You must work in Edina AND purchase a home in Edina.
Do I have to be a first-time homebuyer?+
The Heroes Program does not strictly require first-time buyer status, but the additional ,000 forgivable loan is reserved for first-generation buyers (where neither applicant nor parents have owned a home). Most Minnesota Housing programs (Start Up, Deferred Payment Loan, First-Generation Loan) require first-time buyer status — defined as not having owned a home in the past 3 years.
What homebuyer education is required?+
HUD-approved homebuyer education is required before closing. Home Stretch (in person) and Framework (online) are widely accepted. The Community Action Partnership of Suburban Hennepin (CAPSH) is a common provider for west metro buyers.
Can a Community Land Trust help me buy in Edina?+
Yes. Homes Within Reach is an active CLT in suburban Hennepin County and lists Edina among its 14 partner communities. The CLT removes the land value from the purchase price, often saving tens of thousands. Eligibility is generally for households at or below 80% AMI.

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