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Welcome to Minnetonka Homebuyer Program

Administered by:

City of Minnetonka
· City · Deferred Loan

Funding status: Active

How much assistance

Up to ,000

Deferred loan; specific repayment/forgiveness terms set by city.

Eligibility

  • Income limits:
    Total household income may not exceed 120% of Area Median Income by household size. Gross monthly debt cannot exceed 50% of gross monthly income.
  • First-time buyer required: Yes —
    Must not have owned a home in the past 3 years and cannot own a second property.
  • Geographic restrictions:
    Property must be located within the City of Minnetonka, MN, and must be owner-occupied.
  • Homebuyer education required: Yes

How to Apply for Welcome to Minnetonka Homebuyer Program

Step 1: Contact Minnetonka Housing Coordinator Kendyl Larson at 952-939-8267. Borrower must contribute at least 1% of total purchase price from their own funds or gift funds. Must complete a Home Stretch workshop prior to final purchase.

Cities Where This Program Is Available