The Impact Down Payment Assistance Program helps income-qualified home buyers reduce the upfront costs of purchasing a home. This program is funded by Minnesota Housing and administered by One Roof Community Housing.
This assistance is offered as a 0% interest loan that is forgivable after 20 years. Loan amounts are based on need, with most households receiving ~$20,000.
One Roof has received a limited allocation of $500,000. Therefore, funds are expected to be available for only one to two years and will be awarded on a first-come, first-served basis.
To be eligible, borrowers must have a household income at or below 80% of the Area Median Income (AMI), based on statewide income levels. The current maximum income allowed is $93,500.
Prospective applicants for this program must complete One Roof’s Homebuyer Education Workshop before closing. Learn more about our Homebuyer Education Workshop.
First mortgage loan officers can fill out our online application. Please note that this form is for the loan officer to complete and submit to appropriate One Roof staff.
For more information on our loan programs, please call (218) 727-5372.
NMLS: 380490
