See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated May 4, 2026
Homebuyer Programs in St. Cloud, MN (2026)
St. Cloud is the largest city in central Minnesota, sitting roughly 65 miles northwest of the Twin Cities along the Mississippi River. It spans Stearns, Sherburne, and Benton counties, with the bulk of the city in Stearns County. The median home value in St. Cloud is around $249,000 — substantially more affordable than the Twin Cities metro and a major reason buyers like the area. The St. Cloud HRA offers a $3,000 deferred loan for income-eligible buyers purchasing in designated Core Neighborhoods (no first-time buyer requirement). Central Minnesota Habitat for Humanity serves Stearns, Sherburne, Benton, and Wright counties for households between 40% and 80% AMI. State programs from Minnesota Housing add $11,500-$18,000 in DPA via the Deferred Payment Loan, Monthly Payment Loan, and First-Generation Homebuyer Loan, and the NeighborWorks Welcome Home program (up to $50,000) is available statewide. Note that Twin Cities-only programs like Community Keys Plus Impact and Twin Cities Habitat do not serve St. Cloud — instead, focus on the state programs, the local HRA loan if you're buying in a Core Neighborhood, and Central Minnesota Habitat.
City Programs in St. Cloud
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| St. Cloud HRA Core Neighborhood Down Payment Assistance | Deferred Loan | $3,000 deferred loan | No | View → |
- Type:
- Deferred Loan
- Amount:
- $3,000 deferred loan
- 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 |
|---|---|---|---|---|
| Central Minnesota Habitat for Humanity Homeownership Program | Repayable Loan | Affordable mortgage on a Habitat-built or Habitat-renovated home; sweat equity required | Yes | View → |
| Welcome Home Down Payment Assistance | Forgivable Loan | Varies by household need | Yes | View → |
- Type:
- Repayable Loan
- Amount:
- Affordable mortgage on a Habitat-built or Habitat-renovated home; sweat equity required
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Varies by household need
- First-time only:
- Yes
How to Apply
Check your eligibility. The St. Cloud HRA Core Neighborhood program requires the property to be in a designated Core Neighborhood and the buyer to homestead the home, with annual income limits but no first-time buyer requirement. Most state and nonprofit programs require first-time buyer status (no homeownership in the last 3 years).
Complete homebuyer education. Most assistance programs require a HUD-approved Home Stretch (in person) or Framework (online) course. Central Minnesota Habitat for Humanity and Tri-CAP (Tri-County Action Programs) offer approved courses in the area.
Contact the St. Cloud HRA / Housing Authority to confirm your address is in a Core Neighborhood and to request the application packet for the $3,000 deferred loan.
Get pre-approved with a Minnesota Housing-participating lender. Pairing a Minnesota Housing Start Up first mortgage with the Deferred Payment Loan (up to $11,500), Monthly Payment Loan (up to $18,000), or First-Generation Homebuyer Loan (up to $35,000) is the most common stacking strategy in St. Cloud.
For additional assistance, contact NeighborWorks Home Partners at 651-292-8710 about Welcome Home Down Payment Assistance (up to $50,000), which is available statewide.
If you might qualify for a Habitat home, apply with Central Minnesota Habitat for Humanity at cmhfh.org during their next open application window for Stearns County.