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Get Matched Free →Brooklyn Park Down Payment Assistance Loan
Funding status: Active
How much assistance
$5,000, $10,000, or $15,000 for down payment or closing costs
Interest-free deferred loan; full loan amount recaptured upon maturity or default of first mortgage, sale of property, refinance, or vacating the property.
Eligibility
- Income limits: At or below 120% of the area median income (AMI)
- First-time buyer required: Yes — HUD definition of first-time homebuyer (no ownership interest in a primary residence in the past 3 years).
- Geographic restrictions: Property must be located in the City of Brooklyn Park and used as the buyer's primary residence.
- Homebuyer education required: Yes
How to Apply for Brooklyn Park Down Payment Assistance Loan
Step 1: Confirm you meet the first-time buyer and 120% AMI income test. Step 2: Complete a Home Stretch workshop or other HUD-approved homebuyer education course. Step 3: Apply through the Center for Energy and Environment (CEE), which administers the program for the Brooklyn Park EDA. Step 4: Get pre-approved with a lender willing to accept a subordinate deferred loan. Step 5: Find an eligible property in Brooklyn Park and close on the home with CEE coordinating the second mortgage at closing.
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