The Downpayment Assistance Program provides financial assistance for homebuyers at or below 60% Area Median Income (AMI). Qualified homebuyers can receive up to $40,000 for a home downpayment, closing costs, and/or property inspection.
The program was developed to protect and preserve naturally occurring affordable housing in neighborhoods vulnerable to displacement and gentrification pressures.
- Owner occupy and register as a homestead with Ramsey County throughout the loan term;
- Have net assets at or under $25,000; and,
- Earn at or less than 60% Area Median Income (AMI). AMI is based on the number of people in a household:
- 1 person: $43,440
- 2 people: $49,680
- 3 people: $55,860
- 4 people: $62,040
- 5 people: $67,020
- 6 people: $72,000
- 7 people: $76,980
- 8 people: $81,900
- 9 people: $86,900
- 10 people: $91,850
- 11 people: $96,800
- 12 people: $101,750
Home must be:
- In compliance with current zoning and code requirements;
- 2 units or less;
- Single unit homes include single-family detached homes, individual condominium units, townhome units, and cooperative housing units.
- Two-unit homes include duplexes. Homebuyer must complete Landlord 101 training with the Department of Safety and Inspections.
- Purchased at or less than $256,000(single-unit) or $328,000 (two-unit); and,
- Within an eligible census tract (Marked in blue in the map below)
Financial assistance can be used for:
- Home downpayment;
- Closing costs; and/or,
- Property inspections
- Type: Combined loan (for downpayment and closing costs) and/or grant (for property inspections)
- Maximum award: $40,000
- Loan terms:
- Interest: 0%
- Term: 30 years, deferred
- Repayment: Due after 30 years, with exceptions (See next bullet or full program guidelines for more information)
- Forgivable if: Net proceeds are less than the loan award (See full program guidelines for more information)
- Grant terms:
- No repayment required
Reservation and Commitment Process
Please note: Downpayment Assistance is NOT for emergency use. If you need immediate help paying your rent, mortgage or utilities contact Ramsey County at (651) 266-4884.
If you are interested in purchasing a home and reserving Downpayment Assistance, contact a housing advisor to begin the process. You can locate a housing advisor on the Minnesota Homeownership Center’s website.
Due to limited resources, the City cannot guarantee funding for everyone who consults with a housing advisor. Contacting a housing advisor is a highly recommended first step to homeownership, even if you do not qualify for Downpayment Assistance. If accepted, funds are sent directly to the closing agent after the purchase of a new home.
For other information not on this webpage, contact a City staff member by either email or phone. You will receive a response within two business days.
- EMAIL: firstname.lastname@example.org
- PHONE: Call one of the following staff members, and leave a message with name, phone number, email address (if applicable), and the best time to call.
- Zong Vang, Loan Specialist
- (651) 266-6564
- Jen Bruntlett, Homeownership Specialist
- 651) 266-6563
- Zong Vang, Loan Specialist