With an abundance of homes for sale it is considered a buyer's market. (5 homes for 1 buyer) To go along with the high inventory rates are stable and close to all time lows, tax credit incentives, and several 1st Time Homebuyer Programs to choose to comfortably close your transaction.

Check this page for future reference to the available programs.

Mpls/St Paul City Living 

This program is designed for the buyer that has not owned a property within the last 3 years. The is currently at 4.99% with 3.5% down and FHA financing the borrower may get approved with a less then straight forward file.

This program also has Down Payment Assistance available. The assistance comes in the shape of a 0% deferred loan.

Dakota County Bond

This is the same as the City Living program available in Dakota County.  

Minneapolis Advantage

Down payment and closing costs assistance is available through this program for qualified home buyers. It offers a $10,000 loan at zero percent interest that is forgiven over 5 years.

Dakota County Silver Lining

This is a gap assistance program to help rebuild the housing market in neighborhoods that have had higher than normal levels of mortgage foreclosures. The program offers up to $15,000 in a zero percent interest deferred loan to buyers of foreclosed residential properties.

 MHFA

The Minnesota Housing Finance Agency has available programs to assist the 1st time home buyer the purchase of a primary residence in the entire state. This program is not limited to just one municipality. The program allows for a low competitive rate and down payment assistance. A very valuable Home Buyer class is required.