See programs you qualify for

Get Matched Free →

Three Rivers Community Action Gap Financing

Administered by:

Three Rivers Community Action
· Nonprofit · Deferred Loan

Funding status: Closed

How much assistance

Up to ,000 based on household need

0% interest, deferred 30 years (or until sale of the home), or 0% interest forgivable structure depending on funding source.

Eligibility

  • Income limits:
    Below 80% of the statewide median income, adjusted for household size.
  • First-time buyer required: Yes —
    A buyer who has not had ownership interest in a principal residence in the last 3 years.
  • Geographic restrictions:
    20-county southeastern Minnesota service area, including Olmsted County and Rochester.
  • Homebuyer education required: Yes

How to Apply for Three Rivers Community Action Gap Financing

Step 1: Apply through Three Rivers Community Action. Buyers must complete the 8-hour Home Stretch homebuyer education course. Contact the Rochester office at 1926 Collegeview Rd E, Suite 1302 or 507-316-0610.

Notes

Currently out of funds for the affordability gap downpayment assistance program. Verify current funding status with Three Rivers Community Action before relying on this assistance.

Cities Where This Program Is Available