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St. Louis Park First Generation Down Payment Assistance Loan

Administered by:

City of St. Louis Park (administered by Center for Energy and Environment)

· City · Forgivable Loan

Funding status: Active

How much assistance

Zero-interest deferred loan forgiven at 5% per year over a 20-year owner-occupancy period. After 20 years the loan is 100% forgiven.

Income limits: 1- and 2-person household income limit ,300; 3+ person household ,900.
First-time buyer required: Yes — Must be a first-generation homebuyer (neither applicant nor parents have previously owned a home) AND a first-time homebuyer (not owned a home in the past 3 years).
Geographic restrictions: Property must be located within the City of St. Louis Park, MN.
Homebuyer education required: Yes