Down Payment Assistance Available for Powderhorn Park Neighborhood
Down Payment Assistance Available In Targeted Minneapolis Neighborhoods
(Minneapolis Advantage Program – Wells Fargo 2)
The City of Minneapolis has received funds from Wells Fargo to provide down payment assistance to homebuyers purchasing a single-family home in targeted neighborhoods – listed below.
Homebuyers may receive up to $5,000 in a no-interest deferred loan. The funds can be used to bring the housing ratio (principal, interest, taxes, homeowner’s insurance and mortgage insurance, if any) to 25% of their gross monthly income. Income restrictions apply.
Targeted Neighborhoods: Audubon Park, Bancroft, Beltrami, Bottineau, Bryant, Cleveland, Columbia Park, Corcoran, East Phillips, Folwell, Harrison, Hawthorne, Holland, Jordan, Lind-Bohanon, Logan Park, Marshall Terrace, McKinley, Midtown Phillips, Near-North, Northeast Park, Phillips West, Powderhorn Park, Regina, Sheridan, Shingle Creek, Standish, Sumner-Glenwood, Ventura Village, Victory, Waite Park, Webber-Camden, Willard-Hay, Windom Park, and partial areas of Field and Lyndale neighborhoods.
For complete guidelines and an application go to www.gmhchousing.org or call the Greater Metropolitan Housing Corporation: HousingResource Center™ -North (612) 558-3033 or HousingResource Center – South (612) 722-7141.