See programs you qualify for
Get Matched Free →Bloomington HRA Rental Homes for Future Homebuyers Program
Funding status: Active
How much assistance
A portion of monthly rent is escrowed for the future down payment over a 5-year period
Rent-to-buy structure. Renter accumulates an escrowed down payment over a 5-year track and uses it to purchase a home at the end of the term.
Eligibility
- Income limits: Income limits set by the Bloomington HRA based on household size.
- First-time buyer required: Yes — A buyer who has not had ownership interest in a principal residence in the last 3 years.
- Geographic restrictions: HRA-owned 3-bedroom single-family homes located throughout Bloomington.
- Homebuyer education required: Yes
How to Apply for Bloomington HRA Rental Homes for Future Homebuyers Program
Apply through the Bloomington HRA at 952-563-8937 or HRA@bloomingtonmn.gov. Households move into an HRA-owned single-family rental, complete homebuyer education and counseling, and accumulate down payment savings over 5 years.
Free eligibility check
See every program you may qualify for
How soon are you looking to buy?
Question 1 of 6
housebuyerguides