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Richfield First-Time Homebuyer Program

Administered by:

City of Richfield Community Development Department
· City · Deferred Loan

Funding status: Active

How much assistance

Up to ,000 (,000 base + ,000 bonus for current Richfield renters, households with a documented disability, or households with dependents under age 18)

Zero-interest loan; specific repayment/forgiveness terms set by the City of Richfield.

Eligibility

  • Income limits:
    Income limits set by the City of Richfield. Confirm current limits with Community Development.
  • First-time buyer required: Yes —
    Must not have owned a home in the past 3 years.
  • Geographic restrictions:
    Property must be located within the City of Richfield, MN.
  • Homebuyer education required: Yes

How to Apply for Richfield First-Time Homebuyer Program

Step 1: Apply through the City of Richfield Community Development Department. Visit richfieldmn.gov for current contact information and application materials.

Notes

Layering rule: gift funds and other down payment or purchase assistance cannot exceed ,000 when used in conjunction with Richfield funds. Funds cannot be used if more than ,000 in other debt is paid off at closing. Verify current rules with the City.

Cities Where This Program Is Available