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Eden Prairie First-Time Homebuyer Program

Administered by:

City of Eden Prairie Housing and Community Services
· City · Deferred Loan

Funding status: Active

How much assistance

Up to ,000

Zero-interest deferred loan. Repayment is required if the home is sold or no longer homesteaded within the first 30 years of ownership.

Eligibility

  • Income limits:
    Household income may not exceed maximum income limits by household size, based on gross earnings (revised annually to current CDBG income limits). Gross assets cannot exceed ,000 (excluding one automobile).
  • First-time buyer required: Yes —
    Must be a first-time homebuyer (has not owned a home within the past 3 years).
  • Geographic restrictions:
    Property must be located within the City of Eden Prairie, MN.
  • Homebuyer education required: Yes

How to Apply for Eden Prairie First-Time Homebuyer Program

Step 1: Contact Eden Prairie Housing and Community Services staff at 952-949-8486. Borrowers must invest at least ,000 of their own funds toward the purchase price and complete a homebuyer training course before closing (offered by the Community Action Partnership of Suburban Hennepin).

Notes

Funded by the City of Eden Prairie's Community Development Block Grant (CDBG) program. Funds may be used for up to 50% of required down payment, 100% of allowable closing costs up to ,000, and reduction of mortgage principal.

Cities Where This Program Is Available