Impact Down Payment Assistance Program
The Impact Down Payment Assistance Program helps income-qualified home buyers reduce the upfront costs of purchasing a home. This assistance is offered as a 0% interest loan, forgivable after 20 years.
Program Overview
- This program is funded by Minnesota Housing and administered by One Roof Community Housing.
- Loan amounts are based on need, with most households receiving approximately $20,000.
- Funding is limited with an allocation of $500,000. Funds are expected to be available for only 1-2 years and awarded on a first-come, first-served basis.
Who Is Eligible?
To qualify for Impact Down Payment Assistance, applicants 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 must complete One Roof’s Home Stretch Homebuyer Education Workshop before closing.
How To Apply
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