Funding and Eligibility
The Inheritance Fund layer in the Downpayment Assistance Program is funded through existing dollars in the Housing Trust Fund. The Downpayment Assistance Program offers assistance to all qualifying Saint Paul homebuyers who make up to 80% of the area median income (AMI). However, the Inheritance Fund layer of assistance is available to qualifying Rondo Descendants earning up to 100% AMI. For applicants that meet the requirements of all of the program layers (regular, first generation and Inheritance Fund), up to $110,000 in assistance is available.
The Inheritance Fund layer in the Homeowner Rehab Program is funded through federal Community Development Block Grant dollars. The Homeowner Rehab Program offers assistance to all qualifying Saint Paul homeowners who earn up to 80% AMI. For applicants that meet the requirements of all the program layers (regular and Inheritance Fund), up to $80,000 in assistance is available.
The Inheritance Fund addresses lost generational wealth and lost community wealth separately. Qualifying descendants can receive up to $100,000 in Downpayment assistance to purchase a home anywhere in the city to address lost generational wealth. If they further choose to purchase their home within the boundaries of historic Rondo, they may receive an additional $10,000 in assistance to recognize the lost community wealth being addressed with the homebuyer’s investment in the historic Rondo community.
In the Homeowner Rehab Program, qualifying descendants can receive up to $55,000 in rehab assistance. If the qualifying descendant owns their home within the boundaries of historic Rondo, they may receive an additional $25,000 in assistance to recognize the benefit to the greater community of maintaining and improving the housing stock in Historic Rondo.
For the Downpayment Assistance Program, the property must be a residential one-to-two-unit occupancy that complies with zoning and code requirements. Individual condominium units, townhome units and cooperative housing units are eligible and considered a one-unit occupancy.
Special requirement for two-unit (duplex) properties: At least one unit must be owner-occupied. Under section 40.04 of the Saint Paul Legislative Code, buyers of two-unit (duplex) properties applying for their first fire certificate occupancy are required to complete Landlord 101 training through the City of Saint Paul.
For the Homeowner Rehab Program, the property must be a residential one-to-four unit occupancy that is owner-occupied and complies with zoning and code requirements, unless the rehab is intended to correct any such requirements.
Purchase Price Limits
There is no purchase price limit.