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St. Cloud HRA Core Neighborhood Down Payment Assistance

Administered by:

St. Cloud Housing and Redevelopment Authority
· City · Deferred Loan

Funding status: Active

How much assistance

$3,000 deferred loan

Interest-free; no monthly payment; due and payable in full at sale, refinance, or when the home ceases to be the owner's primary residence.

Eligibility

  • Income limits:
    Annual household income eligibility requirements apply; verify current limits with St. Cloud HRA
  • First-time buyer required: No
  • Geographic restrictions:
    Property must be located in a designated St. Cloud Core Neighborhood and the homebuyer must homestead the property; check the Core Neighborhood map on the St. Cloud HRA website.
  • Homebuyer education required: No

How to Apply for St. Cloud HRA Core Neighborhood Down Payment Assistance

Step 1: Confirm the property you are considering is in a designated St. Cloud Core Neighborhood (the HRA publishes a map).

Step 2: Confirm income eligibility with the St. Cloud HRA.

Step 3: Get pre-approved with traditional financing (no Contract for Deed or ARM financing allowed).

Step 4: Plan to contribute at least half of the down payment required by the first mortgage from your own funds.

Step 5: Apply through the St. Cloud HRA. A $150 administration fee applies and can be included in closing costs.

Notes

Loan amount, eligibility rules, and Core Neighborhood geographic restriction sourced via the St. Cloud Housing Authority via findhelp.org. Verify current income limits and the boundaries of the Core Neighborhood map directly with the St. Cloud HRA before relying on a specific eligibility determination.

Cities Where This Program Is Available