Up to 10% of price (max $32,000). 0% interest, forgiven over 5 years. For first-gen buyers.
Minnesota's First-Generation Homebuyer DPA provides up to $32,000 — one of the highest first-generation-specific amounts in the country. The program targets buyers whose parents do not currently own a home, addressing the generational wealth gap that perpetuates renting.
$32,000 in the Twin Cities market covers the full FHA down payment on homes up to $914,000, and in Greater Minnesota it can represent 15-20% of the purchase price. The program is structured as a forgivable loan, meaning the entire amount becomes a gift if residency requirements are met.
$32K forgiven over 5 years is one of the largest forgivable state DPAs in the country.
We'll show you how to combine MN First-Generation DPA Fund with other programs to maximize your free money — personalized to your ZIP code and income.