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Get Matched Free →St. Cloud HRA Core Neighborhood Down Payment Assistance
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.
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