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Woodbury First-Time Homeownership Program

Administered by:

Woodbury Housing and Redevelopment Authority (HRA), administered by Washington County CDA
· City · Deferred Loan

Funding status: Active

How much assistance

Up to 3.5% of the purchase price toward down payment and closing costs

Below-market fixed simple-interest loan with monthly interest-only payments; principal deferred until sale, transfer of title, primary mortgage payoff, or when the property ceases to be owner-occupied. Loan term not to exceed 30 years.

Eligibility

  • Income limits:
    Total gross annual household income at or below $158,000
  • Purchase price limit: $451,500
  • First-time buyer required: Yes —
    A person or household that has not owned a home within the last three years.
  • Geographic restrictions:
    Property must be in the City of Woodbury and used as the buyer's primary residence; eligible types include single-family homes, townhomes, twin homes, and condominiums.
  • Homebuyer education required: Yes

How to Apply for Woodbury First-Time Homeownership Program

Step 1: Confirm income at or below $158,000, debt-to-income ratio at or below 50%, and first-time-buyer status.

Step 2: Complete 8 hours of pre-purchase homebuyer education (in person or online equivalent).

Step 3: Contact the Washington County Community Development Agency (CDA), which administers the program for the Woodbury HRA, to request the application packet.

Step 4: Get pre-approved with a lender willing to work alongside the Woodbury HRA second mortgage.

Step 5: Identify a property in Woodbury within the $451,500 purchase price limit.

Step 6: Contribute at least $1,000 of your own funds, submit your application, and close. Veterans and buyers age 65+ receive a discounted rate; first-generation homebuyers receive a 0% interest rate.

Notes

Program details, including the $158,000 income cap, $451,500 purchase price limit, $1,000 minimum buyer contribution, and special rate tiers for veterans, age 65+, and first-generation buyers, sourced from the City of Woodbury's First-Time Homeownership Program page. Verify current rate and limits with Washington County CDA before relying on a specific number.

Cities Where This Program Is Available