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Get Matched Free →First Homes Gap Loan
Funding status: Active
How much assistance
0% interest. Repaid in full after 30 years, on refinancing, or on sale of the home (whichever occurs first).
Eligibility
- Income limits: At or below 80% Area Median Income, updated annually by HUD.
- First-time buyer required: Yes — A buyer who has not had ownership interest in a principal residence in the last 3 years.
- Geographic restrictions: Rochester, Minnesota and surrounding service area. Designed for buyers purchasing First Homes Community Land Trust homes.
- Homebuyer education required: Yes
How to Apply for First Homes Gap Loan
Submit a Gap Loan Application to First Homes' Program Associate at emily@rochesterarea.org. Buyers should also complete homebuyer education and qualify with a partner lender.
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