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Bloomington Homebuyer Mortgage Assistance (HMA)

Administered by:

City of Bloomington Housing and Redevelopment Authority
· City · Forgivable Loan

Funding status: Closed

How much assistance

Up to ,500

0% interest, no monthly payment forgivable second mortgage. Forgiven at 20% per year, fully forgiven after 5 years of owner occupancy.

Eligibility

  • Income limits:
    Household income may not exceed 80% Area Median Income, adjusted for household size.
  • First-time buyer required: No
  • Geographic restrictions:
    Property must be a single-family home (attached or detached), townhome, or condominium within Bloomington city limits.
  • Homebuyer education required: Yes

How to Apply for Bloomington Homebuyer Mortgage Assistance (HMA)

Step 1: Apply through NeighborWorks Home Partners at 651-292-8710 or hello@nwhomepartners.org. Buyer must complete HUD-approved homebuyer education plus one-on-one financial homeownership counseling, with a counseling certificate dated at least 30 days before closing. Buyer must occupy the home as a primary residence within 30 days of closing.

Notes

Currently out of funds. Verify current funding status with the Bloomington HRA at 952-563-8937 before relying on this assistance.

Cities Where This Program Is Available